Looking For $500 Loans But Have Low Income?
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Online lenders for cash advance provide the fastest way to get a $500 loan unsecured. The process can be completed online with no hassle. Simply fill up this form and receive notification conveniently on the lending terms applicable to you. There is usually no need to fax many documents and you do not have to worry about upfront costs.

As you have agreed to the loan, the money will be wired electronically into your checking or savings account. This is very convenient since payment to the lender can be automatically deducted from your account after your payday. That is why many people prefer to choose direct lenders for a $500 loan without hidden fees.

Borrow $500 In 1 Hour

Simply prepare basic information such as your SSN, address, employer details, bank account etc and you are ready to get a loan with direct deposit to your checking account. Most people will be able to get a no hassle $500 loan when you have a stable income above $1500; this is an unsecured cash advance so there is no need to surrender any valuable assets. The lenders may approve you even when your credit score is less than 620. Try approaching the banks for a personal loan when you have bad credit – its a waste of time. You still have to end up borrowing from online lenders after being declined by banks for a loan.

The payment date for online cash advance loan is usually tied to when you get paid, monthly or biweekly. Usually, the lenders will agree to extend the payment date if you need more time which often happens to many borrowers. We tend to need several paychecks to offset an unexpected expense and when you borrow money, there is also interest fees to be paid. Do note that for some states, you are only allowed to roll over your loan up to 4 times which is another 8 weeks.

Bank Cash Advance For Bad Credit

There is actually not much difference in the borrowing rates for an online payday loan versus a bank cash advance for bad credit. Both lenders know that you need money fast and are willing to put up with higher APR, that is why they offer you the convenience. If your paycheck is directly deposited into your checking account, the bank may provide unsecured signature loans that are secured using your incoming paycheck. Nevertheless, banks and credit unions are useful when you need a larger loan and have collateral to put down. Meanwhile, it is easier to get a no upfront cost $500 cash advance for paying bills that will be overdue by tomorrow.

Posted August 1st, 2012. Filed under Bad Credit Loans

There are now many choices for a $800 unsecured loan, even if you have bad credit. Many banks now offer cash advance if you have a checking account that receives monthly paycheck deposits. For a small loan, your credit score is not as important as compared to a stable income. There is no need to put down as collateral for such personal loans because your next paycheck is the equivalent. In other words, the lenders allow you to take a case advance against the value of your paycheck.

$800 Same Day Approved Loans

However, if you have really bad credit below 620, then try the online direct lenders for a $800 cash advance. These lenders require you have a bank account with direct deposit. There is usually minimal need to fax lotsa documents to complete the loan transaction unless necessary. The nice thing about online unsecured loans is that you can get approved and have the cash wired to your bank account directly. This is the best option if you need $800 now for some personal urgent expenses.

Borrow $800 With Bad Credit

Usually, most people will look for a $1000 loan lender with no upfront cost. Many are also accredited with the Better Business Bureau so it is easy to check for complaints by previous borrowers on unethical lending practices. You want to make sure you are not trapped or scrammed by lenders when you are in a hurry to get some cash for emergencies. There are many to choose from, but do note that some states ban payday loans so you may not be able to borrow from them if you are living in such states.

Even the lowest rate $800 cash advance without hidden fee may still cost more compared to bank loans. Fortunately, the effects of high payday loan APR is lessened because you are taking a smaller cash loan. However, fees can still add up considerably if you want to extend the payment for months. Avoid doing so, and pay off as soon as possible. Meanwhile, improve your credit score so that you can have access to cheaper loans in future.

Posted July 12th, 2012. Filed under Bad Credit Loans

Loan sharks prey on people who are financially weak and needed to borrow money urgently. For example, people with bad credit or low income are not able to borrow a 2000 loan cheaply from banks and credit unions, so they have to resort to high risk loans at usury rates. Most victims of loan sharks are not financially savvy and do not understand the risk of the high borrowing costs. Their primary concern is to get any loan approved so that they can deal with their immediate financial difficulties. Payments are thrown to the back of their minds, after all the due date is still weeks away.

Despite its obvious dangers, predatory lending fills the big gap faced by people who feel they are excluded from financial services. When you have late payments or bankruptcy etc, you will not be able to borrow money from legitimate sources. And when you are desperate to get a loan, you are less concerned with how much loan sharks wanted to charge you for that $1000 loan.

You will be surprised that people who borrow from loan sharks come from different tiers of society, and not just the poor, low income or low educated group. However, a majority of borrowers include illegal immigrants, single moms, unemployed etc. When you have exceeded the maximum credit allowed by banks, some will even resort to loan shark loans for the additional funds available.

Nowadays, you can find loan sharks operating on the internet and they are also just a click away. Such high risk personal loans can cost around 400% APR for a $200 to $2000 cash loan. Yet, many people are willing to borrow at such rates. You may not feel that way, but when you are jobless or unemployed, how else are you going to borrow money fast? What if that $500 loan can get you a job and tide you over until the new pay check arrives?

Although many state government are not in favor of high risk consumer loans, they are still made available because of the apparent demand. Instead, many states impose limits on the loan APR, fees and maximum loan amount etc in order to protect consumers from ending up in debts. So if you really need to borrow money despite bad credit, go with real lenders that are regulated by the law.

How to Avoid Loan Sharks
* Refrain on unnecessary spending and do not buy on credit.
* Plan your budget and always put aside some money for savings, even if its only 5% of your monthly income. Record your major expenditure groups, so that it is easy to pinpoint where you have been spending too much on, such as entertainment and social leisure.
* With some savings, you have a cash reserve to tap on without resorting to loans.
* If you need help managing your expenses, there are many free consumer advisory services that can advise you with personal spending problems.

Usury loans tend to be the biggest problem when it affects the low income social group. When you are already facing financial difficulties for daily expenses, additional debts at high APR is not exactly a solution. Seek financial assistance from the government or not-for-profit organizations as there may be free grants or food vouchers to help you out. It will be best to avoid loan sharks and choose a debt free way to get some money.

Posted April 23rd, 2012. Filed under Bad Credit Loans