Most of the time, bills are predictable. You’d know for certain that at some of point of the month, you’d have to pay for credit card bills, utility bills, school bills and other expenses.
However, some bills do come unexpectedly, sometimes leaving you in a state of upset and frustration when you don’t have the cash to remedy it. This is one of the times when cash advance loans do come handy.
Consider this scenario: your tooth hurts in the middle of the night. It’s bothering you to the point of considering absence from work. However, for every hour lost from work means you are also losing a portion of your salary.
Obviously, you can’t afford to prolong the agony so you need immediate dental attention. You also need money to pay the dentist, possible procedure and medications.
Cash advance loans provide amazingly immediate relief by providing you instant access to money that you would otherwise find difficult to raise if you tried applying for traditional loans.
Cash advance loans, also called payday loans, are available on ground and online, making them easily accessible in times of very urgent cash needs.
Cash advance loans are here for a reason: because we can’t predict life. You may know that your car is old and frail, but you will never know when exactly it is going to break down. You may know that you are healthy today, but you can never tell when your immune system fails. While facing these financial dilemmas, you will undoubtedly feel some pressure and tension. You need to solve the problem but try to make ends meet as well. And the easiest way to provide some relief is to try to advance some money from your paycheck through cash advance loans.
Cash Advance Loan: Who is it for?
Now that you know that cash advance loans are here to the rescue, your next question is probably who it is for. Basically, the loan is for any qualified borrower who is facing financial stresses that can be solved by short-term small-scale loans.
To be a borrower of cash advance loans, you need to satisfy a few conditions. First, you need to have a job and work on it for specified minimum hours per week and earn the minimum salary per month. You also need to have a valid checking or bank account; be at least 18 years old and an American citizen. Some lenders may ask for a few more documents but these are the very basic ones that you can expect.
What About my Credit History?
You are also probably concerned that bad credit may hinder you from getting the loan. Fortunately, there’s been a shift in the lending industry over the years and people with bad credit can now avail fast and easy loans without going through stress and hassles. Of course, it is easier to get a loan with good credit, but if you happen to have a bad one, you can take comfort you can almost always get a cash loan for your unexpected bills.
When to Use?
This question is rather subjective and it is better to rely on your personal judgment, taking the status and your own behavior on personal finance. Your unexpected expense can be different from other people so it is best to take a good look at your own finances than base your decision on other people.
However, to make it easier and more financially practical for you, it is best to address your very basic needs first rather than focusing on extras and luxuries. You can probably live for a few days without that new bag you’ve been eyeing on but you can’t probably skip groceries and utilities.
Cash advance loans are useful either way but the only way to make them worth your payments is to put these loans into sensible and practical use.