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Why a Paycheck Advance Works
There are many families that are finding it difficult to make ends meet because they have lost their job or have taken a reduction in pay. This loss of income can prevent you from paying your bills on time, often resulting in the you falling behind on your financial obligations.
When families fall behind on their bills, several types of problems can arise. If the family is not able to make their housing payments, the landlord or mortgage holder can take actions to evict them. If car payments are missed, the bank can repossess the car making it difficult for them to get to their job and make money.
A paycheck advance
Instead of missing payments, families can receive a paycheck advance that will allow them to get the cash they need to make their monthly payments. This payday loan can be approved within a matter of minutes and you will receive your funds right on the spot.
When you are applying for a paycheck advance, the lender will require you to complete a short application. You will have to provide your social security number, date of birth, address, employment information and bank information. In addition, you may have to submit a recent paystub and proof of U.S. citizenship.
When comparing the cost of a paycheck advance to the late fees and penalties that are associated with missing your payments, this short-term loan is very affordable. These loans have an interest rate that is referred to as the Annual Percentage Rate or APR. When searching for a paycheck advance company, it is important that you compare the APRs of each lender in order for you to get the best rate for your loan.
A paycheck advance can prevent further financial turmoil for you and your family. You should take the time to discuss your options with a lender so that you can get the cash you desperately need.
© 2010 Paycheck World. All rights reserved. Payday Loans are also commonly referred to as Cash Advance, Payday Advance, Paycheck Advance, Loans for People with Bad Credit and Payday Loans no Credit Check
Customer Notice: Payday loans should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling.