Money for Any Reason You May Need!

Situations When a Payday Loan Can Benefit You

A payday loan is a quick cash loan that requires little to no paperwork or waiting before receiving the money you need. These loans can be obtained online through trusted lending sources or in person at a payday loan store. The main differences between a payday loan and a traditional bank loan are the interest rate and fees, payback time and the need for no credit check. In order to qualify for a payday loan you must be eighteen or older and have a job. This makes these loans beneficial for those who need fast cash but have bad credit. When borrowing a payday loan be sure that you will be able to pay off the entire amount when it is due.

Utilities

Whether you live alone or have children, receiving a disconnection notice from a utility company can be stressful. Most companies will charge an outrageous fee for reconnection as well as take their time coming to reconnect service once paid. Because payday loans can be easily and quickly obtained, they are the ideal way to pay those bills before the company has a chance to disconnect your service. A payday loan for utility bills is a great idea as long as you will have the money to pay it off with your next paycheck without being short on any other bills.

Car Repairs

Your car breaks down and you have to get to work. You have two choices, call a friend for a ride every day or get the car repaired. In most cases you don’t have the money to pay for the necessary repairs to your vehicle and may find yourself worried about losing your job. In this case you can apply for a small payday loan. Apply for an amount just slightly over the repair bill amount so that you will be able to easily pay it back. A mistake many people make when taking out fast cash loans is they get tempted to take extra money out for spending.

Medical Emergency

If you or a child has a medical emergency you may need money quickly in order to cover expenses or the bills at home in the event that you are missing work. Medical emergencies are unpredictable and choosing between paying household bills or getting treatment is not an option. Most hospitals will allow you to pay medical bills later as they can’t legally turn you way, but if you already owe the facility money from previous visits they may ask for a percentage of the balance upfront. In these cases a payday loan may be the best option available to pay for the treatment you need, especially since you won’t have time for a bank loan.

Tax Bills

When it comes to owing taxes the collection process used by the IRS and local collectors can be brutal. If you find yourself owing property taxes or even income taxes within a reasonable amount but unable to pay them, you may want to apply for a payday loan. You can request the amount owed on your taxes quickly and then begin repaying the loan. Owing taxes can result in wage garnishment as well as money being withdrawn directly from your checking or savings account with little to no warning. These types of collection practices can cause you further trouble when paying other important bills.

Insurance

Whether you have to pay your premium or your deductible, a payday loan can help you out. Paying your premium on time will prevent your insurance from being cancelled and since most auto lenders as well as state laws require your vehicle to be insured, not paying is not an option. If you car is damaged in an accident, most insurance companies require a deductible, which is the amount you pay before the insurance will cover the repairs. In both cases not having the money can cause you major headaches. A payday loan will allow you to pay your premium or deductible without being late or having to wait weeks to begin repairs.