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Hassle Free Payday Loan Option – No Faxing Is Required

Posted by on 6:06 am in Payday Loans | Comments Off on Hassle Free Payday Loan Option – No Faxing Is Required

Hassle Free Payday Loan Option – No Faxing Is Required

You may have every expense sorted out and made sure that all the costs and bills of the month are within your monthly budget, but what do you do if an urgent expense comes out of nowhere and needs to be dealt with urgently? If your next payday is just a few days off, yet you need the money right now for an urgent unforeseen expense, what can you possibly do? Opt for a loan? It takes too much time, or maybe that’s just a common perception.

If you need instant cash on loan, there are options which can help you, and all without the hassle and tiring procedures involved in regular payday loan options. The answer to your problem is instant payday loan with no faxing!

No Fax Payday Loan Option – What Is It

If you are in need of instant cash for meeting an urgent expense or unpredicted bill, then one of the best options to choose is a quick instant payday loan type which is available with a no fax option from

No Fax Payday LoansThe no fax loans work in a way that you can get your request for loan processed and accepted in a matter of just 15 to 20 minutes. Your credit score does matter, but what online loan providers are more concerned about is whether or not will you be able to return the loan amount on the decided date or not. As long as they are satisfied that you will be able to meet with their payment requirements, they are more than willing to offer you the instant cash loan you need to meet an urgent need.

The no fax loan option has been designed in a way that your request is processed instantly, and the approved loan amount is released within a matter of a few hours. This way, if you need a little bit of urgent help, you know what would suit your immediate need best.

Many loan applicants worry about the long tiring procedures which require submission of a list of official documents and credit checks. But the no fax payday loan option only requires one to show a valid ID to the lender. One great feature of this specific type of loan is that the lender does not go through the entire credit check process, so if you have a credit problem, you can still get an instant loan with no faxing option.

Benefits of Opting For A No Fax Payday Loan Option

This loan option serves as instant relief for many. Need for instant cash can be met without any serious inconveniences, hassle or stressful procedures. Other reasons why a no fax payday loan option is a good choice include,

  • Simple and hassle free application process which doesn’t have any complicated loan processing requirements.
  • Fast loan application processing and approval procedure
  • To request for a loan, one just has to complete the form, submit it and wait for confirmation
  • The payday loan amount is processed in a matter of a few hours which help to meet all urgent cash needs

The upper limit of the no fax payday loan amount is subject to state regulations. Usually, the lower limit is $50 while the upper ceiling may be $1500 or whatever is allowed to the lender as per state law. The no fax payday loan option is a great way for anyone to meet an urgent expense and bridge an urgent expense gap till the next payday.

Types of Loans You Should Avoid

Posted by on 3:15 pm in Credit Cards, Payday Loans | Comments Off on Types of Loans You Should Avoid

We have probably all been in a situation when we needed a significant financial boost and when we considered taking a loan. There are loans intended for most various purposes, with different payout periods, different repayment conditions and interest rates. If your credit rating is satisfactory, you should have no problem with being granted a loan of any kind.

LOANHowever, if you have bad credit rating, there are not many loans that could be granted to you. One of the loans you could take in such situations is guarantor loan, which has certain advantages but also some disadvantages. On the positive side, these loans are granted even to those with bad credit rating, they do not have too high interest rates and they usually cover a relatively short period (1-5 years). They require a guarantor who agrees to repay your debt in case you are unable to do so for any reason. On the bad side, it may not be easy finding a guarantor, and this type of loan puts a lot of responsibility on both the borrower and the guarantor.

If you are in a real need of financial help and you are considering the possibility of taking a loan, a guarantor loan may be the best option. There are many other types of loan, and in this article we will focus on some you should avoid no matter how badly you need money.

Title loans – even though they are easy to be granted, which may seem rather tempting, title loans are extremely risky and have a range of bad sides. If you are a car owner and have a title for it, you allow the lender hold onto the car title and he in exchange gives you a loan. First of all, the amount of this loan is always only a minor part of the car’s worth. The interests and fees are very high, and even if you pay out the full debt, you will pay more than you have borrowed. If you do not pay out the loan, the lender gets the right to take your car.

Payday loans – these loans are short-term loans of small money amounts, used usually to get you through until you receive your next paycheck. You give a lender a post-date check and authorize him to receive the funds equal to the amount you have borrowed, plus an interest. You are given cash immediately, and when the payday is due, the lender receives the money you entitled him to. This type of loan is quite risky, because not only that the fees are high, but also if you do not receive the money you have expected and you are not able to repay the lender you may get caught in a cycle which is difficult to get out of.

Pawn shop loans – pawn shop work in a way that you hand over an item (such as a fine piece of jewelry, a piece of technical equipment, and antique item etc.) and get a percentage of the item’s value in return. It may seem as a good solution since it is quite easy get the money when you pledge an item. However, you get only a minor part of the item’s value, and if you are not able to repay the loan in due time, the pawn shop gets to keep the item.

Criticism of Payday Loans

Posted by on 4:49 pm in Car Finance, Credit Cards, Payday Loans | Comments Off on Criticism of Payday Loans

     Before we start talking about criticism of bad sides of payday loans it would be good to remind everyone what payday loans represent. These loans are short term loans that are unsecured, and they have high interest rate.  Original payday loans were create to help people with financial problems until their salary, and on that day , they would pay off their payday loan. But now, payday loans are not connected to paydays as it was before, only name is kept ( and there are few other names for payday loans, like patrol loans, short term loan and so on ).

   There is high presence of criticism of payday loans present all over the globe, and a lot of that criticism is hitting the mark with its explanations. I will convey some of the more important points of the payday loan that are criticized.

Major criticism of payday loans is that they are draining money from communities that have low income. In reality a family that has steady income will not take payday loan, but they will go and take loan from a bank, which offers several times smaller interest rate for their loans. Users of payday loans are families that can’t fulfill requirements to receive bank loans, and in many cases in USA, those families come from poor communities of Afro-American and Hispanic descent or immigrants. With steady use of payday loans those communities are unable to progress from their financial situations and they remain poor.

    In UK people have complained, and some organizations made official complains on aggressive advertising made by payday loan providers. Major issue with their advertisements was and still is the lack of interest fee in those advertisements. Even though those complains went through, this is still a problem. You will see a lot of payday loan adverts, and each and every one of them will promise loans with lowest interest rate on the market, but they will not display their interest rate, which is in all of the cases really high.

Another issue that received a lot of criticism is too aggressive collection practices of the payday loan lenders. This topic requires its own article, but I will summarize everything important right here. This short term loan practice is nor regulated and due to that the loans are unsecured. Some laws state that lenders must follow the rules that are set to banks that loan money and so on, but that is just in theory. In reality lenders will call borrowers 24/7, make threats and do many other things in order to get their money and interest back. Lenders of these loans have no right in the court, so they will use all possible means, of which most of them are illegal to get money from borrowers.

  Due to lack of regulation, there are no standard interest rates for payday loans. Every lender will decide his own interest rate, and in a lot of cases they will increase it if a borrower fails to return money in agreed time.

Payday Loans-Fake Debt Collectors

Posted by on 10:48 am in Car Finance, Credit Cards, Payday Loans | Comments Off on Payday Loans-Fake Debt Collectors

      There are a lot of stories about fake payday loan debt collectors on the web, and none of them are good, in contrary they are just getting worse as the time goes by. I went through a lot of those stories and I got sick from reading them and listening to stories of people, and it got worse and worse. What they are willing to do has no boundaries, and I will convey some deeds that were done to people. But conveying that story will not be the point of this article, but the general fight against this filth that walks among us.

   loanshark First and most important thing to remember is that those fake collectors are not just amateurs looking for some easy cash, they are professionals who know all tricks of their trade. Once one of them targets you he will use all possible means to gather as much of your personal information as he can. And believe it or not, they will have a lot of your personal data at the end.

    In one of the cases a fake collector targeted a lady who never took a payday loan. But her firm stand and all refuses of paying anything didn’t stop him. He went and called several people from her family, from her brother and husband up to her married sister who changed her last name. Even though the victim and all of her family knew that it was a scam, the number of calls caused stress which is not a surprise.

    Reason for all that is stress is in attitude and voice volume those fake collectors use. None of them will sweet-talk to you. They will shout and make groundless threats of lawsuits, arrests and so on. Some people crumble before those threats and they pay, not being able to withstand all that. And they will call your employer as well, asking him to pay out your debt, or to take out that money off your salary and pay them. Some employers might even do that, and others might take it as offence and get rid of you and your problems. But most of them are smarter than that, and they can recognize a scam, if they couldn’t do that they wouldn’t work on those positions. This video is for all of you who doesn’t know to recognize the fake debt collector.

   There are several ways to defend yourself, but first thing should be to ignore their shouting and threats. Instead of responding to questions you should start asking them. This will unsettle every fake collector. Ask about his name, his telephone number, his address and company he works for. Then ask for papers which will prove that outstanding debt you owe. Make contact with the lender ho gave you a loan, and ask him question as well. I like the aggressive approach to those fake collectors. Try to extract as much information from him as you can and then report him to the law department responsible for that kind of work and hand them all info you managed to gather. And offer your assistance in stopping that fake collector.

The Basics of Loans

Posted by on 3:13 pm in Car Finance, Credit Cards, Payday Loans | Comments Off on The Basics of Loans

The loan-making activities are one of the most important factors for survival of banks and financial institutions. No other function that a bank performs is more important than the extension of credit. Bank loans play a significant role in providing funds for the operation of business, industry and economic activities of all kinds, as well as for the personal financial needs of millions of people. Some businesses borrow only occasionally from banks, or they do it for some special purposes, whereas there are many businesses which were completely built up upon a loan. There are also many businesses which take loans regularly, in order to take care of seasonal needs or to finance an increasing volume of business. In addition, with the growing use of installment credit, which enables individuals to buy many types of durable goods by borrowing from banks, the lending facilities of banks are being used by more and more individuals.

There are various types of landing agreements and arrangements: short-term, medium-term and long-term landings; as well as loans for personal and business purposes. Loans can be taken for various purposes; therefore we have the loans for scholarship (student loans), house loans, car loans, loans for veterans, small business loans and many others. There are even refinancing loans, served to cover the costs of a previous loan. Over the years, a number of principles of sound landing practice have been developed by banks and financial institutions.  No banker could manage his bank in the best interests of his stockholders, depositors and community if he does not understand and follow these principles in granting and extending loan.

Every loan requires signing a loan agreement or a contract, which is a legally binding document. There is no standardized pattern of a loan agreement, because every loan is different depending on the lender, the borrower, the purpose and the amount of the loan etc. However, there are certain elements which every lending agreement must contain, such as: conditions and purpose of the loan, remuneration of the lender, conditions of repayments and prepayments, renewal of loan, taxation, alternative interest rates, procedures in the events of changes in law, events of default etc. the contract is made by a bank or a financial institution which grants the loan, and after it has been carefully considered, adequately stamped and signed by both parties, it is considered valid and legally binding. Watch video and learn more loans.

There are two types of contractual terms: conditions (main terms) and warranties (subordinate terms). Conditions are essential terms of a loan agreement; they may constitute the main purpose of the contract or one of several main purposes. Breach of conditions entitles the injured party to treat the contract as it was terminated. Warranties are subordinate terms of a loan agreement, which means that they are subsidiary to the main purpose of the contract. Breach of warranty entitles the injured party to file a lawsuit for damages, but it is not possible for him to observe the contract as it was terminated, but he still must perform his part of it.

How to Decide Whether to be a Guarantor or Not

Posted by on 2:54 pm in Credit Cards, Payday Loans | Comments Off on How to Decide Whether to be a Guarantor or Not

Guarantor loan in a very common type of bank loans and it requires a signature of a guarantor which vouches for a lender. This means that, if anything goes wrong with the repayment of the loan, the guarantor is required to repay the debt to the full on behalf of the borrower. Naturally, since being a guarantor takes a lot of responsibility, this duty usually falls on the closest family members, but it is not rare that very close friends also take this responsibility.

Agreeing to be a guarantor is a very big decision, and it is not easy to make it since it does not only involve a large payment to be paid potentially, but it also puts a risk upon friendship or family relations. I this article, we will provide you with some advice to help you decide whether to accept being someone’s guarantor or not.

First of all, make sure that you know the person well. This may seem obvious, since it is usually family members or very close friends who are guarantors for each other, but you would be surprised how many people who are not that close to you could ask you to be their guarantor. If you are to vouch for someone or eventually repay a part of their debt, you would not want them to be someone you do not care about enough, or who does not care about you equally.

Then, make sure to find out the motives for taking a loan. Even though it is rude to interfere with personal matter such as the reasons of taking a loan, in the case where you are asked to be a guarantor, you have all the rights to ask for the motives. If you do not agree that the reasons for taking the loan are justified, you should say no, no matter if that may harm the personal relationships. After all, it would be much more harmful if you would get involved into something you disapprove.

guarantorIf you are asked to be a guarantor, you can help the borrower consider whether he has some other alternatives. If they are not familiar with the possible alternatives, you can search for them together and explore the good and bad sides of each of the possible options. On the other hand, if you are capable of helping financially, then you can even lend a part of the loan or the full loan and agree that it will be repaid to you instead to a bank, since this way there will be no interest and other cost for the borrower.

If your credit rating is not ideal, or if you are concerned that it may not be if you agree to be a guarantor, then you should say no to the offer. It is not only in your best interest not to get involved in guaranteeing for someone in such situation, but it is also better for the borrower to find someone with ideal credit rating to be their guarantor, so they can be sure that they have enough financial support if something happens to go wrong with the repayment.