getting fast unsecured loans – how payday loans can be a solution

One of the reasons that a conventional loan application may take a long time to be reviewed and approved is that for larger sums, many lenders may seek security for your loan against some form of your assets (e.g. your home). If you need access to fast cash, lengthy administration delays are not going to help, so looking for fast unsecured loans may be a better idea.

What are fast unsecured loans?

If you’re borrowing a smaller amount of money, the lenders may feel that their risks are manageable and that they do not need to seek further security against your assets. This means less paperwork all-round and very possibly a much faster decision on your loan request.

An example of such a loan is called a payday loan.

What is a payday loan?

A payday loan exists to provide borrowers with fast access to cash over a short term – typically the amount is repaid in full on your next or next-but-one payday. As the sums are smaller, the pay day loan companies may be able to offer an almost instant decision once you’ve keyed in a few simple facts about your fast cash loan requirements.

On the agreed repayment date, the lender will debit your bank account to recover the loan plus interest and any charges (such as transfer fees) – all of which will again have been agreed with you in advance.

Using a payday loan, you could have the cash advance money appear in your bank account less than 2 hours after it was approved, or the very next day, depending on whether your bank can accept immediate transfers. That’s fast!

Can anyone get a loan like this?

Anyone borrowing money needs to meet certain conditions. In the case of fast payday loans, the specialist internet providers of payday loans try to keep these to a minimum. They typically include:

1) holding an active USA bank account and debit card
2) being in permanent employment which provides permanent income
3) having a permanent USA address

Bad credit histories need not be a problem depending upon the severity of the issues and how much you’re trying to borrow.

Fast unsecured loans when used responsibly may help you deal with a short-term cash flow problem (such as urgent car repairs or an unexpected, urgent bill) or take advantage of a buying opportunity (for example, something that is on sale for a limited period only).

Same day cash

Many people have experienced the ‘bad month’. A pile of unexpected bills and sudden essential expenditure – however well you normally manage your monthly finances, these sorts of events can throw you into chaos. That’s when you may need to be able to call upon a bad credit payday loans.

What is a same day cash loan?

Sometimes you may need money – and fast! Conventional loans through banks may be fine for larger items but because of the sums involved, they typically require a detailed application process that may take some time to reach a decision.

It is possible though to take out what’s called a payday loan. As the name implies, this type of cash advance loan is typically for smaller amounts to help you get through to your next payday – usually between $100-$1000, though these amounts will vary depending on your chosen payday loan company.

Once you do get paid, you repay the loan in full immediately (plus any interest and fees) and therefore avoid lengthy repayment schedules and commitments etc.

How fast can it work?

The benefit of dealing with smaller amounts over short periods is that the risks for the lenders are lower, so typically they can move faster than in the case of a conventional loan.

The specialist providers of payday loans have websites through which you can make a simplified application and receive an almost instant online decision. If that decision is ‘yes’ then the money could be in your bank account within 2 hours – if your bank can accept immediate transfers. If not, then the money will usually be in your account the very next day.

What’s needed to get a fast loan?

Typically the requirements are simple. You’ll need:

an active US bank account with a debit card usable against it;
a permanent job and regular income from it;
a permanent US address where you normally reside;
to be asking for a payday loan that is within your financial ability to repay.

Will bad credit histories be accepted (online payday loans no credit check)?

Typically yes – although it does depend on ‘how bad is bad’ and how much you’re trying to borrow. You may find that if you do have a poor credit history then borrowing smaller amounts rather than larger may increase the chances of your fast cash loan request being approved.

So, if you need a cash advance on your payday, then looking at same day cash loans through the specialist payday loans companies on the internet may be a good idea.

Benefits of a pre paid debit card

For some people, having a credit card may seem like a bit of a temptation to spend. While cutting up all of the plastic in your wallet may seem like a good idea to keep temptation at bay, in today’s modern world it can be difficult in certain circumstances to manage without a card of some sort. Fortunately what’s called a pre paid debit card may be the answer to the dilemma!

In fact, this form of plastic card is not really a credit card at all. When you use them, the money you spend is money that you already have loaded onto the card either as cash sum or a bank transfer. The cash loaded on the card is the maximum that you can spend, giving you control over your money – and no late payment or interest charges.

This typically makes a pre paid debit card a safe and simple way of paying for items:

1) you don’t have the risks of theft or loss that can sometimes accompany carrying large amounts of cash
2) if the card is lost of stolen, you just notify the card provider and ask for a stop to be put on the card. This prevents someone else from being able to spend your money
3) you also have the convenience of being able to purchase things where a card is essential, for example items on the internet or over the telephone

Prepaid cards are available from internet online providers. Because they are not credit cards and will only allow you to spend what you already have, you may find that credit history checks are not necessary.

Some prepaid card suppliers also provide e-bank accounts. An e-bank account, if it is available from your prepaid card provider, can typically provide you with many of the benefits of a standard bank account. You could have your salary paid straight into it for example and it is possible to set up standing orders to make regular payments. You can manage your funds online and view recent transactions and statements.

If you find that you do need cash in hand, you can use the pre paid debit card in just about any standard hole in the wall machine. In common with many other types of cash card though, you may find that the amount of cash you can withdraw in any one day is limited (say to £250 per day, though this may vary depending on your provider).

Ran the snowball calculator spread sheet

that was shared here on the list and it still shows us having to go until 6/2019 to be totally debt free—including both mortgages. But then I didn’t include for when we start getting our ss checks, since that is a year off. Me I’m not settling for that date or anywhere near that long. So I added two mystery shops for a total of $20 onto my errand list today. Dh will squawk, but I stopped at two and they are in the same parking lots I am already going to. Hey $2 to the next vacation fund and $18 toward the debt snowball works for me. LOL!

I just came in from running errands. One of which was to stop by the Social Security office to pay them off!!! The balance was only $580 and the minimum payment each month was $20, but it’s another bill GONE!!! I took it directly to them and asked for a receipt because I wanted proof we’d paid it in full as of today, just in case.
You see when you owe social security if you owe them even as much as a penny and you decide to go back on it they will hold your ENTIRE first month’s check and NOT give you the difference. If you owe more than one check’s worth they hold the checks until it’s paid and keep the change. So since dh is nearly 65 and will be refilling to get his full benefits this time next year we wanted the US government to have plenty of time to get it recorded on the books that he was paid in full. Look how long it took them to let us know we owed them money and how much!
As most of you already know up until age 66 you are limited on how much you can earn a year and not have to pay it back—that’s how we ended up owing them even though we told them to stop the checks after he went back to work—they are VERY slow in doing things. Well dh will turn 66 in Feb 2016, so he won’t meet that maximum in January/February of 2014. We were told to come in Dec 2013 and he’d start getting checks in January 201. Which means I could too—if they didn’t have a hold on his money. So you can see why we want proof we’ve paid them off. I may hold off on getting my first check until Feb 2016 though because I will turn 64 in January of that year and 64 is a higher level of income, maybe it might not be since he drew money when he was 62. The woman I spoke with today thought it might make a small difference in the amount of my check. We’ll know closer to time.

I was happily married for over 13 years

so I can say “been there, done that”. While our finances weren’t the problem, I’m still MORE financially secure since I retain 100% control over my money than I was when married. I think thats the part I have NO plans on ever giving up again. I have no plans of ever worrying about money again.

I’d have to keep up with the essentials

until he’s back to regular salary. If you can barely make it on unemployment, MAKE IT. In our area amounts earned while collecting unemployment are subject to additional money earned during those weeks. Better check into that with the UE office.

As far as the Pizza places waiting for the “Kids” to return…they’re stupid. Why not hire a MAN with responsibilities who NEEDS the job.
But with the price of gas – maybe he needs someplace else to work that doesn’t require gas money.

Well, several things just did not get paid

The utility bill, even spread out over a few months, had to be paid, so I called my brother, who paid it for us. We can not do without heat and electricity.
My doctor gave me some samples of some medication that was needed, that got us through until hubby got his first unemployment check.

I managed to list and sell a few things online, which brought in some $$$, but not the whole amount needed to avoid skipping some payments.

Several things just did not get paid. Plain & simple.
We are more determined than ever to bulk up our emergency funds so we are not at the mercy of a company doing this again. For now, we are prioritizing and paying the absolute essentials with the money that comes in. Once he is back to work full-time, we will forge ahead.

Hubby has been applying for more work. One thing he has encountered is this sense that people hesitate to hire him because “oh, he will just leave once the layoff is over”, even though he intends to stick around. We are determined to conquer the debt once & for all. He told them he would commit to 1-2 years if they want him to, in writing. Two offered him work, but only at the same shift he currently works. He won’t jeopardize his full-time job for a part-time job, which makes sense. He asks for a different shift, and the company balks. Like it is some kind of test or something. He is still putting his resume out there and is hopeful. Delivering pizza? He put his name in at a few places who are interested in hiring him, but they are waiting until the “kids” come back from their spring breaks before they will make a hiring decision. They advertised they were hiring. So, why aren’t they hiring?
The uncertainty is difficult.

Do you think your method is really working?

You are making people pissed off at YOU, not the debt, so therefore maybe you are wastign your berath and time and putting bad energy into the atmosphere because you are making people angry and upset.
YOUR method may not work for everyone. Not everyone needs TOUGH LOVE, some people just need education and guidance and they turn their whole life around. Has anyone on this list ever followed one piece of advice you’ve given with YOUR method?

Our landline phone, internet service and cable are all bundled

We have them on the lowest level plans offered.
Our cell phones DO NOT WORK inside of our house. With a small child in the house, we need a way to summon help if needed, so a landline stays.
We can’t cancel the cell phones, since they are under contract and have early termination fees.
We cancelled cable t.v. down to the absolute basic. Our t.v. does not work without some kind of connection. (Personally, I think it is a scam for this area. Where we used to live, about an hour away, you could simply plug the t.v. into the wall and get 10-15 channels. Not here. If you don’t have some kind of cable, all you get is static.)
The internet service has to stay on as long as possible, since it assists me in making a living. If I can not communicate with the office, no work.
In Ohio, you have to have insurance to drive. If you get caught without it, you will be fined very, very, very, very heavily. (Been there once with DH. No thank you.) If your car is financed, it must be fully insured. Since the cars are not paid for in full just yet, that is what we are facing.
We are trying to dig out of this hole. We are really working on it. Sometimes, I think that moving out of Ohio would be the thing to do. There are so many things that “you must” do.
Our credit card debt is minimal. Skipping is an option. Penalties will be steep and expensive. The interest rates will jump into the 25% – 33% range, depending on the account. Then, there will be the late fees ($35-50 per card.) If that puts you over the limit, there will be Over the Limit fees too.
It is the college loans, the mortgage, the car payments, the small loans that have to be repaid. There is one family loan, but we treat it like any other debt and pay it as well. Will never hear the end of it if we don’t pay it. We have called and explained that hubby is laid off, got the SIGH, huffy attitude and then “So, you are still gonna pay on time right?” Not kidding. This is what we are dealing with here.

Nobody gives a damn that my husband is not working is basically what I am saying. It is up to us. We are new to the Dave Ramsey way of life and we intend to work it to death and conquer our debts as soon as possible.
The news reported that in May the economic stimulus checks will be arriving. That will help. The income tax refund will help with the bills too. Hubby is waiting to hear from the people he interviewed with lately. He is also considering training to become a truck driver. Will learn more about this weekend.