Tips to Help Guide You through a Payday Advance

Unexpected bills and unforeseen financial needs can happen to anyone at any time. In this climate of economic uncertainty and the tightening of credit card/loan requirements, it's good to know that there is a place to go for simple, short term payday advance funds. You can rely on the people at to help you find a quick and easy solution to your immediate financial needs. Payday advances can be an excellent way for people with little or bad credit to obtain a quick infusion of cash. But it is important to know all the facts- not only about the lender you are dealing with but also to clearly understand the terms of your payday advance. has an extensive list of payday advance lenders who specialize in just this type of short term loan. They have reviews and information on all their lenders and you are advised to read and learn this information before signing any payday advance paperwork. Payday advance money can be a useful, quick way to get the funds you need in a very short time but it is prudent to have all the facts so that you don't end up in a more serious financial situation than when you started. Following are some tips to guide you through the payday advance process.

Paying lower fees

Obviously, if you are considering a payday advance which will get you quick, easy access to cash, you can expect to pay significantly higher fees than you would if you were applying for a traditional personal loan. You will be paying heavily for the right to borrow and receive the cash extremely fast. However, you should be aware that you should not be expected to pay unreasonably high fees for this service. With the surge in the number of people looking for quick and easy cash access, many states are capping the amount of the fee that payday advance lenders can charge their customers in an effort to protect the consumer.

However, many states do not have this protection in place, and therefore the finance fees charged are basically set by the major payday advance lending companies themselves. is committed to finding you the lowest possible fees for your payday advance. We are here to help you find the best possible solution for your short term money needs, without putting you further in debt. When you apply for your payday advance, you may be asked to provide either a check or your personal bank account information to the lending company. This simplifies the process of repaying your advance when your next payday arrives. However, if you write a check for the repayment of your payday advance when there are insufficient funds in the account to cover the check, you will incur a large penalty fee. The amount of this fee depends on which state you live in. The most important thing to remember when applying for payday advance is that you must be able to repay the entire amount of the advance, along with any fees, on or before the agreed to due date. Otherwise, you will be responsible for any and all fees and penalties that the lending company is authorized to charge you.

Qualifying with little or bad credit

Your credit history is not considered in the application process for payday advance. This is what makes payday advance an attractive choice to those people who have bad credit or very little credit. With the current economic downturn and extremely tight credit market, however, many people who previously would have applied for a traditional personal loan through their bank or credit union, are now also choosing payday advance to help meet their short term financial needs.

Although credit history is not a factor in most payday advance applications, lending companies do rely upon your employment information as a means of determining the amount of your payday advance and whether your application will be approved. Some lending companies ask that you be employed with the same company for at least the previous six months or more, so you should be prepared to provide information about your current job status, including contact names and telephone numbers and also have pay stubs to verify income. As long as you have steady employment and an active checking account, your credit history should not be an issue.

Finding a reputable payday advance lender

As with any financial decision, it is smart to do research and find out all the information you can regarding payday advances and the companies which provide them. The United States Truth in Lending Act was designed to protect the consumer from unwarranted fees and exorbitant interest rates and charges by not only credit card companies, but also by payday advance lending companies. These lending companies must fully disclose all fees, interest rates, loan terms and other items to the consumer. Be sure you read all these disclosures before signing anything concerning your payday advance. You may be given a long list of disclosures, but it is in your best interest to read and understand all of them before agreeing to the terms of your loan and signing the agreement.

It is easy to find information concerning payday advance lenders on the internet. You can find reviews of the various companies online and also visit many websites to see what the different companies offer in the way of payday advances. Each may provide something a bit different so it is smart to shop around before making this all-important decision. Also talk to someone you trust to learn if they have any information about payday advance lenders or have actually used one. This can be a family member or friend. This can be an easy way to find out if a company is honest and reliable. Just remember to get all the information possible before you make your decision about which company to choose. You will enjoy lower rates, better fees, and have the peace of mind that comes from knowing you made a sound financial decision when choosing your payday advance lender.

Protecting yourself from unscrupulous lenders

The payday advance lending business is, overall, a very legitimate one. However, as with any other large industry, there are always those companies looking to take advantage of people and make a quick (dishonest) buck. It is up to consumers to be informed and smart when choosing a payday advance lender.

If a lender asks you to pay any loan fees up front, this should be an immediate warning signal! The old saying about “if it sounds too good to be true, it probably is” is worth remembering when searching for an online payday advance lender. If the interest rate is considerable lower than others you have investigated and the terms seem especially sweet, you should probably be cautious! While payday advances can incur a higher interest rate, most legitimate companies are fairly close in their fees and rates, depending on your circumstances. If an interest rate seems incredibly low for the type of advance you are receiving, the lender might warrant further investigation.

As with most situations, research and solid information are great weapons against these scammers. If at any time during the application process you feel uncomfortable or suspect something isn't quite right, stop the application, step back and do a bit more research. In the long run, it will pay off when you are confident you are dealing with a legitimate lending company. And remember, there is different criteria for the payday advance, so if a lender asks you nothing about your employment record or current employment status, you might want to wary.

Paying off your loan on time should be your number one priority

As a nation, we are seeing the effects of the credit crisis everyday- high unemployment, tightening credit restrictions, sluggish housing and real estate sales. While payday advances can be a good choice for an immediate cash need, they should never be used as a long term solution to credit problems. They simply provide you with almost immediate access to cash, but also cost more in terms of fees and interest rates. So if you choose payday advance for your short term money needs, it is extremely important that you be able to repay the amount fully on or before it is due.

There are varying time limits regarding how long a payday advance loan can run, depending on the state in which you live. Generally, these loans are valid anywhere from two weeks up to one month. At the end of the designated time period, you must have the entire amount (including any fees) in your checking account to cover the check you have written and given to the lending company. If, for any reason, the sufficient amount is not there and your check is returned (bounced) to the lender, the consequences can be dire. You will also be charged hefty fees by your bank. While a bounced check for a payday advance is not a crime, the lending companies can be quite aggressive coming after you for the loan amount. Their collection companies can be much harsher than standard collection agencies.

Never borrow more money than you know you can reasonably repay in the short amount of time that your payday advance loan agreement is written for. If you have any doubt about being able to fully repay the payday advance loan by the due date, you should perhaps reconsider your options before committing to this type of agreement.

Learning to budget and control your financial situation

Payday advances should never be thought of as a long term solution to a financial problem. They are a quick and easy short term solution to an immediate and unexpected financial need. They can provide a sudden influx of cash when it is desperately needed. But if you find that you constantly need more cash than you have available, it is important that you carefully and realistically go over your budget and see what you need to do to take more control over your financial situation.

Make a list of your monthly expenses, large and small, and try to include every possible item so that you have an accurate accounting of what you are spending. Plan ahead! If you know of upcoming expenses, try to put money aside each week so that you will have the cash available to handle them. See where you can cut expenses. Sometimes, people don't realize where their money is going until they actually write down the numbers. Keep your receipts. Going over what you spend for groceries can be eye-opening and alert you to things that perhaps you can do without or find cheaper somewhere else. Learn to sacrifice where you can. The peace of mind that comes from not having to constantly worry about money is worth it! Remember that payday advances can be a great solution for a short term financial obligation which you are able to repay fully and quickly, but it should never be thought of as a permanent way to alleviate ongoing money problems.

Knowing your state's regulations

Payday advance loans terms and conditions can vary widely depending on which state you reside in. While finance charges will be fairly consistent throughout the United States, certain fees, such as collection fees, can differ widely from state to state. A good source to research this information is

Payday advance loans can be a quick and easy way to gain access to cash with very little time or hassle involved. The application process is simple and there is no cost to you, the consumer. But it is extremely important to research payday advance lenders thoroughly and know the facts about this type of loan before committing to and signing any type of agreement. If you know and understand all the information beforehand, a payday advance can be a useful resource for your short term, unexpected financial needs. Most of the lenders in this industry are honest and want to provide you with the almost instant flow of cash you need. They do not want you to become more burdened with debt and be unable to repay the loan in a very short period of time. For this reason, it is important to consider all aspects of this type of loan before applying and accepting it. But for the proper circumstances, it can help you when you need it the most!