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Tuesday, February 28, 2012

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There arent many people in this world who have not faced a situation where they needed money badly for some emergency These emergencies could come in the form of medical bills school or college fees house or car repair etc Payday loans or cash advance are meant to help you in these grave situations As the phrase suggests payday loans are those that you can avail before your next payday arrives From this you would realize that this is usually a choice when you are in need of money urgently and where you just cannot wait till your next payday

Payday loan amount would be often provided to you the next working day after you apply for it All it needs from you is to be 18 years of age or more employed or have a regular source of income and to have an active bank account Once you apply for it usually online there is very less formalities that remain for the lender to transfer the amount to your account

The interests for payday loans vary according to the choice of the loan lender From 15 it could go as high as 30 per particular number of days for a loan of 100 Often the due date of the loan varies from 15 days to 30 or your next payday

Payday loans are often quite attractive as you could avail it without many formalities and efforts For shopaholics this is good news because they could buy anything they fancy without waiting for their pay cheque It all sounds great and attractive but there has to be a catch somewhere isnt it Yes there is and the catch is that for the amount you avail as a payday loan you have to pay a huge interest and that too within a short period of time

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It is better if you dont go for payday loans for impulse shopping or purchase It is something that has to be availed only when your need is unavoidable More importantly be aware of the all the terms and conditions of the leading agency before you go for it


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