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How to Survive The Payday Loan

Member
By dizzysue
User-Submitted Article
(0 Ratings)

This article is to tell about the payday advance its pros and cons some good some bad. The payday advance is not for everyone.

Difficulty: Moderately Easy
Instructions

Things You'll Need:

  • Latest paystub
  • Checking account
  • Need for cash upfront
  1. Step 1

    Anyone can get a payday advance as long as you have 3 basic things. These basic things are a steady job, your latest pay stub and a checking account. They do not check your credit as long as you have a steady job you can get the advance. The amount depends you can get up to $500.00

  2. Step 2

    The good thing about the payday advance is that you can get your money upfront with no questions asked, you have to pay this loan back in your next payday. You have to be careful as it is possible to leave yourself short getting this loan it happens to a lot of people.

  3. Step 3

    When getting the loan you have a choice of sending it to the bank or picking the check up and pay the cash. After the loan is paid you can get another loan as soon as 24hrs later. If you wait until 1 week after you get paid then the loan is due in 3 weeks instead of 2 weeks, sometimes that is good and sometimes that is bad, it just depends.

  4. Step 4

    The down side of this loan is that there is a fee for the loan if you get a $500.00 loan then the fee is $53.00 so if you get the loan 2x per month then you are throwing away $106.00 just think of what you can spend that money on instead.

Tips & Warnings
  • Ready cash when you need it
  • Fees can be high, be careful
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