Online Payday Loans

Online payday loans vary form company to company. Let Payday to Stay help you find the right lender of online payday loans and avoid the most common pitfalls.

Online Payday Loans

Applying for financial relief is a great way to get your personal finances pumped. And we mean pumped - these are the steroids of personal finance, the quick cash injections that will fuel your movements between now and your next paycheck. Who cares if they're expensive and dangerous? A short-term financial service might be your only option.

Online loans are not all created equally

So you've decided the only way out of the financial mess you got yourself into is with a short-term financial service - quick advances from the digital universe where numbers and whizzgigs are KING! You've thought of other options , but they just won't work for you. As long as you are taking out the funds with a reputable company then you can rest easier. You looked into all the cost involved and know when you are expected to pay off the balance, right? No? Then read on to find out why it is that so many of us fall prey to "roll-over" and high interest build-up.

How not to let your advance "roll-over"

The answer to this is simple, simple, simple- pay that online cash advance back on time! All lenders will charge an initial fee for the service of taking out funds. You get cash wired straight into your account within 24 hours after you've filled out an application. And they didn't really ask you many questions about yourself. It's easy for you to get the loan, but the lenders are taking quite a rick when they lend out so many online payday loans. they have to cover that risk by charging you higher than normal interest as well as that fee we were talking about. But, that fee may not be a one-shot deal. If you do not pay back the loan by the time you get that next paycheck you will be charged the same fee again. And the lender will continue to charge you the same fee until you get around to paying the balance.

This, my friends, is called "roll-over".

The essence of training your payday advance loans.

When good "roll-overs" turn bad

Obviously you really need to make a strong effort to avoid paying a service fee each and every time you are late in paying the balance owed. The initial service fee for an advance is usually about 10-30% for each $100 that you borrow. So let's make it an even 20% for this example- that's 20% on a two week loan (they usually have to be paid back within 14 days). For the entire year: 20% x 26, and that adds up to a whopping 520%! And for some services, it could be even more. So lesson number one, in our book, is: if you need to take out funds, just be absolutely sure that you can pay 'em back with your next paycheck! Because rolling over your repayment is the worst - yet its almost universal when people apply for bad credit financial assistance. Go figure.


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