Why You Should Go for Guaranteed Payday Loans
Many people who apply for guaranteed payday loans with bad credit, get approved for some loan amount. There is no guarantee that you will get a payday loan if you apply for one. Not everyone is approved. You should meet some eligibility criteria for bad credit cash loans guaranteed approval in the US.
Related Article: How a Direct Lender Helps You Get Guaranteed Payday Loans
Why You Should Apply for a Guaranteed Payday Loan vs. Other Ways to Get Cash
- You can’t get a bank loan:
It is estimated that nearly half of Americans cannot qualify for a bank loan, even if they have a mortgage. And the process to get a bank loan is a time consuming one. This doesn’t help those who need cash quickly.
- You have an emergency medical or auto expense:
No one can plan for an emergency medical situation, they happen. And what if your car, the one you just have to get to work, breaks down, and you need some extra cash to get it repaired. When these things happen, you are often put in a real bind and you must get some cash quickly. Payday loans online are one of the surest ways to do so.
- You have a family member or friend who needs emergency cash:
When someone close to you, who you trust, has an emergency you may want to help but you don’t have the cash yourself. Maybe they tried to get an online payday loan but did not qualify. In this case, you might be able to get one, help them, and take care of the repayment later.
- You need to pay everyday bills like rent and utilities:
Almost 70% of those who get payday loans online do so to pay some type of expenses. Often these are utility bills, rent, or credit card payments. If you miss a utility payment you not only face shut-off but the deposits, restart fees and back bills with interest and penalties are more than any online payday loan will cost you.
- You need to pay off credit card debt:
Credit card companies and other loan lenders may send you to collections and you get a bunch of phone calls every day or threatening letters. Getting a payday loan to get collectors off your back may be beneficial. You may be one of the millions who has no available credit left on your credit cards so using them is not an option.
A payday loan is generally not the best loan to get to pay credit card bills because the cost is higher. However, if you are about to be past due and get interest and penalties added then it may be a possible solution.
- You don’t want your credit checked:
If you have bad credit or no credit at all, an online payday loan is still a simple solution for many people. Online payday loan lenders often do not require a credit check. And the amount time to complete an application and receive approval is just minutes so there is no faster way to get a cash loan.
- You don’t want to borrow money from friends and family:
Usually when you are really in need you either ask family and friends for help, but many people are too embarrassed to do so. Applying for an online payday loan is quick, easy and secure and can be done right from your smartphone in a few minutes.
- You want to pay a debt or bill that could cost more if missed:
Depending on the type of bill it is or if it is a bank overdraft (NSF) situation, missing a payment or bouncing checks may result in larger penalties than the cost of the payday loan. Also, repossession of a car or major appliance could be much worse than the cost of the loan. Plus, you could lose all the money you have paid to date on the item, so it is really a big loss to you personally.
- You want to make a time-sensitive payment:
Some payments are very time-sensitive and are very costly if missed. Getting an online payday loan may be the only, and the best solution depending on the circumstances.
- You are okay financially but need the extra cash now:
Rarely, you may find it easier to borrow money than spend what you have available to you. Payday loans online, if paid back on time, maybe more cost-effective than using a credit card depending on interest rates.
Always remember that loan amounts and terms and conditions vary greatly by a state as well as by lender. You can always check your state website for more information about your state regulations.
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