PAY DAY ADVANCE: A Quick Solution

2007-03-08 10:33:40

( Financial )



Every now and then, life emergencies come up that call for quick cash long before pay day arrives. Thus, loan companies upon becoming aware of this need began to offer pay day advance loans.

Pay day advance lets you borrow cash without going through the usual loan application process for a conventional loan. You can loan a few hundred to a thousand dollars and pay the loaned amount by the next pay day. Hence, pay day advance is a short term loan with a 14-day loan period or less.

Watch out though. Interest rates can be very hefty, ranging from 15% to 30% for every loan period depending on your credit history. So you might want to pay it back as soon as possible. Otherwise, the interest gets doubled when you pay by the next due date.

Beside the high interest rates of pay day advance, another one of its disadvantages is that it can be habit-forming. In fact, many people who use pay day advance loans end up with more debt and financial trouble.

On the other hand, other forms of quick cash loans like military pay day advance have significantly lower interest rates. This type of loan is available to all personnel serving the military regardless of rank and class.

Inactive and retired military personnel are also entitled to cash advance benefit. Since they no longer have pay days however, these loans are known as advance loans.

Unlike pay day advance for civilians, military pay day loan can be paid over a longer period of time. A loan period can be long as 12 to 24 months with the same low interest rate.

Almost any loan company that also offers pay day advance loans to civilians is offering Military pay day advance.

As with any loan however, it is always advisable to exercise caution when using pay day advance. It is best for you to make sure that you’re aware of the pros and cons of every transaction you perform. It is your financial state that is concerned after all.


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