Payday loans are an increasingly popular way for borrowers who need money today to get it quickly and conveniently. As personal and other bank loans have become increasingly difficult to obtain, particularly for those without savings or who have poor credit histories, payday lenders have grown to a $40 billion dollar industry in the United States.
Payday loans can be obtained either online or in person at one of the 22,000 storefront locations that have popped up around the country. The borrower simply provides a bit personal information about themselves, their employment and wages and their bank, and the payday lender provides funds ranging from $50 to $5,000 at a …
Read This Article →Are you looking for an all-encompassing guide to how payday loans work? You’ve found the right place!
A payday loan provides quick funds in a convenient way: when people need money in an emergency, they can simply walk in to a store, call a lender, or apply for a payday loan online. If they meet few requirements and agree to pay back a fee plus the loan amount, they walk out with a check for between $50 and $5,000.
Briefly: The Payday Lending Industry
Payday loans a relatively new phenomenon; payday loan storefronts actually did not exist as recently as the 1990s. But with the economy now slow, and many …
Read This Article →Most college students have to seek out student loans in order to pay for school. Easy student loans – no cosigner needed – are the most sought after type of loan out there because unfortunately not all college students are able to get approved for the money they need. This is because many loans require cosigners, and some students don’t have parents, other relatives, or friends who are willing or able to sign off on loans for them. In spite of the fact that the Wall Street Journal recently reported that student loan debt is higher now than credit card debt, there are still many students who need cash for …
Read This Article →You can get Quick Payday Loans in a few different ways, including in person, over the phone, and online. The quickest payday loan you can get is definitely the kind you apply for online. The majority of payday loans do not require that you wait for more than a few hours at most to learn your approval status, but sometimes you can find out in five minutes or less if you have been approved for a loan online. There are a number of different online companies offering payday loans, but you should do some research before applying for the first one you come across on the Internet.
The Winner Is……
Read This Article →This time Chris in Dallas asks, “Can a payday loan be discharged in bankruptcy?”
Great question! Payday loans are an easy way for people with bad credit to get a loan. The borrower is able to write a personal check for the amount they wish to borrow plus the finance charge, and receive cash for that amount. Borrowers may sign over electronic access to their bank accounts to receive and repay payday loans. Lenders hold the borrower’s check until the next day when the loans and finance charges must be paid in one lump sum by the borrower. Borrowers can pay back the loan by redeeming the check and paying the …
Read This Article →Reader Question: Patrick from Florida recently wrote us with a question, “Can I get a loan at 17? I need money for a car.”
Yes and no. You cannot get an individual loan at age 17. Minors (those under age 18) are not old enough to enter into a legally binding contract because they are not considered adults. Most minors do not have steady jobs because they are still in high school. They also don’t have credit. Lenders view this age group as “too young” and “unable to pay back their loans.”
It is illegal to try to apply for an individual loan as a minor. If you …
Read This Article →Our guide to getting a loan. An overview of loans and cash options available to you, depending on your credit score, income, and how fast you need the money. Includes an overview of lending from banks, pawn stores, and payday/installment lenders.
If you need cash now today and don’t know where to turn next, this article may provide you with some direction. Our first impulse when we need money is typically to seek out a quick loan, but instant-loans.org advises you to always make sure you’ve exhausted all of your options before doing so.
Before You Consider A Loan
How bad do you need the money? Is this to pay …
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Help! I need money today – preferably fast! What are my options?
If you need money desperately and are looking for advice on how to make quick cash fast, you are certainly not alone. A 2010 CareerBuilder survey found that 22% of respondents periodically missed payments on bills, and 77% of workers stated that they were living paycheck to paycheck.
This same survey found that in 2010, workers were: cutting back on entertainment/leisure time (54%); using coupons or shopping at discount stores (48%); driving less (37%); and canceling tv, cable, satellite, and other subscriptions (12%).
With more and more layoffs, pay cuts, increases gas and food …
Read This Article →When you’re looking into getting a line of credit, you might get confused by some of the terms used to describe them. Your lender might discuss “fixed rate loans” and “variable rate loans,” and if you’re pretty new to borrowing money, you might not have any idea what those phrases actually mean. It’s important to understand what they mean because the type of rate you receive could have an impact on the total amount you end up paying back for what you borrow as well as your monthly payment.
What Is a Fixed Rate Loan?
In most cases, a fixed rate loan is a good option. This is because a …
Read This Article →About The Editor
Maria Schubert is the editor of Instant-Loans.org. Originally from San Diego, Maria graduated from USC with a Bachelor's in Accounting, Certificate in Banking, and Certificate in Entreprenurship. Before joining our website, Maria spent time as a lender at a prominent Florida bank.In addition to working with our staff and contributing to Instant-Loans.org, Maria enjoys golfing, asian cuisine, thrifty shopping, the beach, and a great novel.
