MyPaydayLoans.com can assist you in getting payday loans online when you have a bill that must be paid but do not have the necessary funds. It can be quite a task to budget money, especially in financially tight times. No matter how carefully you plan out your bills, you may still have those occasions when you come up short and a remaining bill needs to be paid after the cash has run out. Or you (may have all of your bills paid, and then a sudden emergency expense comes along without any warning. You do not have the funds to pay the bill, and it requires your immediate attention, which rules out putting the bill off until you get paid again. With MyPaydayLoans.com, you can get the money you need at the time you need it, and the bill will be handled promptly, thus saving you from a financial crisis.
A payday loan is a way of obtaining quick cash between paychecks, enabling you to take care of an emergency bill without the need to borrow from family or friends. You will not need to obtain a loan through a bank or through your credit card, either, which can involve very costly fees and interest that could cause further financial problems for you. The loan will be repaid out of your next paycheck, and your emergency bill will be handled quickly and conveniently when you get your payday loans online. By using an online lender, you will also save yourself the time that it will take to travel to the nearest cash advance store and wait in a long line in order to get the cash you need.
The Advantages of Getting Payday Loans Online
- Bad Credit OK: Credit scores are not required, so poor credit will not hold you back from obtaining a needed loan.
- Streamlined Process: Getting your payday loans online is a very convenient way to get cash, as the transaction takes place over your computer. Many lenders will not require you to fax further documentation to them, making the process even easier.
- Security: Secure sites ensure that your personal information is protected at all times through encryption methods that are used. You can have peace of mind in transmitting sensitive data, knowing that only those individuals for whom the data is intended will see it.
- Minimum Requirements: You will be required to have a valid checking account, and certain lenders will use a savings account if checking is not available. You must also be at least 18 and a resident of the United States. An email account and work and home phone numbers are needed. The only other requirement is that you have a steady income that will leave you with at least $1,000 a month after taxes have been taken out.
- Easy Application: These beneficial loans will provide you with cash promptly. Once your application has been filled out, which takes a matter of minutes to complete, you may obtain immediate approval. The faster you are approved for your loan, the faster you will receive your cash for your emergency expense.
- Direct Deposit: Your loan amount will be electronically deposited into your account. Repayment takes place in the same manner, with the loan amount, fees and interest automatically withdrawn on the due date. For busy individuals who have enough to handle, this can be a very helpful option, as dates will not need to be remembered and checks will not need to be written and mailed.
- Loan Extensions: If you should find yourself in a situation where you will not have sufficient funds to pay back the loan on the date that it is due, you should promptly contact your lender as soon as you are aware of the fact that you need more time. An extension, with an additional fee, can be issued to you.
- Loan Options: You can obtain a second loan while an initial loan is still in effect, but you must remember to mention it on your application. This can be helpful for those occasions when you are hit with several emergency expenses within a short span of time.
- Faster Process for Returning Applicants: If you are a return customer to a site, by submitting your ID number and password, issued to you when you filled out your first application, you will have your completed application provided to you. There will be no need for you to fill it out again. You will just be required to review the information and make any necessary changes and updates.
Upon approval of your loan, you can receive your money by the next business day. Certain lenders can give you even faster service, providing you with your emergency cash within 24 hours of approval. You can be assured of having your bill paid promptly, and it can all be accomplished in the privacy of your home or office when you choose the convenience of getting payday loans online.
Getting Payday Loans Online as a Modern Solution
Life can be enough of a struggle without having to worry about how you will handle sudden expenses that can come up. My Payday Loans can help you to find a lender with reasonable fees who can provide you with the cash you need in the quickest way possible. You can fill out and submit your application any time of the day or night, although you will receive the best service during regular business hours. When you get your payday loans online, you can get out from under those sudden bills that would otherwise present you with a financial dilemma.
APR – Representative Range Explanation
When you take out a fast cash loan, you are charged an annualized interest rate known as the annual percentage rate, or APR. MyPaydayLoans.com is not
a lending service, meaning that it is not in the business of disbursing loans, but it does help consumers find lenders who routinely provide people with cash loans, and it never charges any sort of fees for this professional service. Given the fact that MyPaydayLoans.com does not function as a lender, it simply is not able to provide you with details regarding the APR that will go with your cash loan. You should know that annual percentage rates can vary according to the personal information provided by you as part of your loan request as well as the information you get from your lender.
When you are redirected to the loan agreement during the process of requesting a fast cash loan, the lender with whom you work will provide you with specifics regarding your APR, finance charges and other applicable terms. To get assistance with any MyPaydayLoans.com-related services, you are welcome to contact us.
The APR for a fast cash loan can range from 220 percent to 2,320 percent depending on how exactly that rate is calculated as well as other variables including the loan term, loan renewal options and any fees that are incurred (nonpayment, late penalties, etc.). Please note that the annual percentage range is not the same thing as your finance charge, which your lender will disclose to you at a later juncture in the loan request process.
YOU CAN BORROW $800 FOR 14 DAYS WITH A $40 TO $80 LENDER CHARGE. YOUR ESTIMATED APR WILL BE 130 TO 260 PERCENT.*
In relative terms, fast cash loans are pricey when you compare them with other loan types. They are never recommended as a long-term financial solution, and you should try to only borrow them in emergency situations.
*Calculation: (lender fee / loan amount) x (amount of days in a year / duration of the loan) x 100 Low End Calculation: ($40 / $800) * (365 days / 14 days) x 100 = 130.36 percent High End Calculation: ($80 / $800) * (365 days / 14 days) x 100 = 260.71 percent
Important Implications to Consider
Financial implications (Interest and finance charges)
Once you are approved for a fast cash loan, your lender will let you know about the interest rate and fees connected with that loan before you agree to their offer. As stated earlier, MyPaydayLoans.com is not a lending service, which means that it is not able to inform you of the exact fees and interest rate that you will find as part of the loan offer. Please take notice of the fact that you are never obligated to accept any particular offer that you receive.
Implications of non-payment
Upon accepting the terms and conditions connected to a fast cash loan offer, you are in essence stating that you will pay back the loan principal and loan finance charges in the amount of time specified in your lender’s agreement. Supplemental charges could very well apply if you are not able to pay off your loan in full or if you submit a payment after the date on which it is due. MyPaydayLoans.com does not have the ability to tell you the charges you will see as a result of late payment, nonpayment or partial payment. Furthermore, we have no control whatsoever over knowledge of the particular loan details between you and the lending professional who is assisting you.
Please make sure you peruse the late payment, nonpayment and partial payment policies that are thoroughly detailed in your lender’s loan documents. At MyPaydayLoans.com, our policy is to only maintain partnerships with lenders who carry a high level of reputability and who, as a matter of practice, pursue collections of past-due borrower accounts in a 100 percent fair and reasonable fashion.
Potential impact to credit score
MyPaydayLoans.com maintains a policy of never getting involved in making credit decisions or performing credit checks on potential fast cash loan borrowers. That being said, some of the lenders with whom we have partnerships may choose to run a nontraditional credit check so as to determine whether or not you are eligible for help from them. Usually, the lenders won’t run a credit inquiry through any of the major credit reporting agencies (Equifax, Experian and TransUnion).
When all is said and done, your credit rating may end up being impacted by a lender’s specific actions. If you fail to pay off your cash loan by your scheduled due date, your lender may move to report the delinquency to, at the very least, one of the aforementioned credit bureaus. If they do this, it could hurt your credit rating. MyPaydayLoans.com encourages individuals who have credit problems to consult a professional, reputable credit counseling company.
As stated earlier, MyPaydayLoans.com is not a lending service, and furthermore, we do not engage in debt collection. In the loan documents they give you, your lender will provide clear information concerning their collection practices. If you are not completely certain of the collection practices that a particular fast cash loan lender engages in, then we recommend you discussing the issue directly with that lender. Our policy is to work exclusively with lenders of the utmost reputability who pursue collections of borrowers’ past-due loan accounts in a 100 percent reasonable, fair manner.
LOAN RENEWAL POLICIES
Cash loans should be viewed as a short-term financial instrument only. Here at MyPaydayLoans.com, we encourage all borrowers to pay off their fast cash loan in full and by their predetermined due date so they can avoid late payment and/or nonpayment penalties. Should you believe there is a reasonable possibility that you will have trouble paying back a loan after you borrow it, we recommend that you examine a variety of loan alternatives before you proceed with applying for a cash loan through the MyPaydayLoans.com website.
Category: Payday loans