In recent years, payday loans have received a significant amount of media attention, much of it negative. These small personal loans have been criticized for their high-interest rates, which have the potential to contribute to long-term debt. Some critics claim that payday advances are "predatory" because of their high APRs, especially since so many people who use them are already at risk for debt. Pundits argue that check advances are a financial detriment to consumers because they have the potential to result in an unmanageable downward spiral of debt for borrowers. In reality, much of the criticism of paycheck advances fails to place these useful short-term loans in the proper perspective. All too often, critics fail to acknowledge that payday advances are a valuable business resource for the underbanked. For the many people who do not use mainstream banks--usually due to unsatisfactory financial history—a check advance is a useful financial tool. In many cases,...

Payday loans are often criticized for their high interest rates. However, these small personal loans are an affordable option for people who are unable to take advantage of mainstream bank loans. Most people who use payday advances are successful at sticking to a budget and managing their finances, but unexpected expenses can throw their budget out of whack. Payday lenders help hardworking folks who have a hard time paying for groceries, gas and other routine expenses in a given month due to emergency expenditures that are out of their control. Sometimes a check advance is the best solution to help make ends meet between paychecks. If emergency expenses make it difficult to keep up with monthly bills, most people with bad credit have limited options. One choice is to mail checks for bills even if the funds are not available in your bank account. It is possible that some of the...

Direct Payday Lenders vs. Pawnshops Thanks to the reality TV show, Pawn Stars, pawn stores find themselves in a good position. The show shows clients going into the Las Vegas shop and looking to have items appraised. Sometimes the people who have their stuff appraised find out that item is worth nothing because it is a fake. However, outside the reality TV drama, desperate people turn to pawn stores for quick cash. They pawn items that have value thinking that they will get it back with their next check. Pawnbroking began in ancient Greek and Romans times. The concept of pawn broking years ago was to aid people with funds using collateral and charging an interest.  Today, it works that same way. You run into a financial bind and you go through your items to see what you can take up to the pawn store and trade for cash. Most people...

When I think of summer, I think of family vacations or a lone excursion to somewhere away from everyone. Traveling to faraway places is an exciting adventure but can also be a culture shock as well. When traveling, knowing how much you will be spending is vital. You can take the cash you expect to spend, but sometimes it is not enough. Sometimes what you are used to paying for food at home is a drastic change when you travel. If you travel outside the country you can find the currency exchange rate favorable and sometimes not so favorable. Other fees that slip our minds is ATM fees. Not only will the ATM you use charge a fee, but your bank charges a fee for you to use the unaffiliated ATM. As you start your travels it is always wise to do your research. Knowing ahead of time that your average...

Payday Cash Advance: Pros and Cons Nearly everyone has experienced a time when the money they need to make ends meet was greater the money they actually had.  Whether it’s from an emergency medical bill, a badly needed car repair, or just because budgeting isn’t your strong suit, you have probably felt the crunch of being short on cash.  Fortunately, there are many options available to help get you through difficult financial times like that.  This article is going to focus on the pros and cons of one of those options, a payday cash advance. What is a Payday Cash Advance?  A payday cash advance is a type of short-term loan, usually about 14 days in length, that is meant to help people get through a temporary financial hardship.  These loans are designed to help pay for immediate expenses and bridge the gap until your next payday, which is when a...

Consumer advocate groups routinely scrutinize the payday loan industry, claiming that it uses a predatory business model. Payday lenders are criticized for charging high-interest rates for short-term cash advances. However, consumer advocate groups tend to turn a blind eye to the high NSF fees that are common among mainstream banking institutions. Banks reap huge profits from overdraft fees, which can total hundreds of dollars if consumers fail to monitor their accounts carefully. Even if an account holder is only slightly overdrawn, banks typically charge between $30 and $40 in NSF fees per transaction when there are insufficient funds to cover a purchase. The Consumer Financial Protection Bureau (CFPB) highlighted this unscrupulous practice in an ABC News recent report hat revealed that banks deliberately allow customers to become overdrawn so they can collect overdraft fees. In fact, the CFPB found that overdraft and insufficient fund fees account for 61 percent of bank profits from consumer...

There are moments in life when unexpected events take place. You rejoice when they are enjoyable, but what about those moments that take you and your wallet by surprise? Planning for the unexpected can prove difficult sometimes when it is simply that – unexpected. And if that unanticipated event involves your finances, how do you handle it? Imagine that you are at your son's baseball game. It is the last inning, and your team is only two runs away from winning. Your son is up to bat. He hits the ball to the outfield. If he can make it to home plate, the game will be tied. Then it will be up to the next player to place a run on the board or go into an extra inning. He rounds first, then second. Defense is tossing the ball in, and it is a race to third. The third baseman catches...

When it comes to educating our children, we go above and beyond. We want them to have the best tools to make education as fun as possible. We urge our kids to get excited about school shopping so that they will be ready to learn. Personally, my kids like to go for the cool looking book bags that run anywhere from $40 to $80. Then they are picky when it comes to what pencils and pens they like for the classroom. If you think about, we as adults are the same way. You find a great writing pen and the last thing you want to do is let someone borrow your good pen. Before you know it, you’ve racked up a hefty bill that is as much if not more than a weekly paycheck. According to Forbes Magazine, they revealed that for the 2015-2016 school year, teachers alone spent around $500...

There has been a great deal of negative publicity over payday loans, much of it centering on their high interest rates. What is often ignored, however, is the positive impact these small personal loans make in so many communities across America. For instance, recent studies have shown that after some states have taken the extreme measure of banning paycheck advances, consumers have fared worse instead of better. With fewer options to borrow money in an emergency, people with poor credit often have nowhere to turn when these short-term loans are eliminated. Studies have also shown that after a natural disaster, communities with access to payday loans experienced lower rates of housing foreclosures and treatment for substance abuse than communities where they were not readily available. In recent years, some legislators and policymakers have taken a knee-jerk reaction approach to payday lending. Instead of addressing the root causes underlying the endemic poverty and...

The payday loan industry has faced more than its fair share of criticism. Critics often attack the industry by arguing that borrowers are not sufficiently educated about the borrowing process and what is required of them to successfully complete a short-term loan transaction. However, a recent study conducted by MicroBilt, a risk­ management data provider based in Kennesaw, GA, reveals that the majority of surveyed consumers do understand how to use payday loans in a responsible manner and avoid paying the excessive fees that most critics claim. The fees associated with payday advances may seem quite high to some people, and for some people, it is too high relative to their monthly income and what they can afford. As with many other industries that provide consumer services, there are pricing options available to choose from and also a variety of product types to choose from. Some other industry examples include mailing...

The ability to get an online cash advance is a relatively new phenomenon when you consider civilizations planted the roots of modern day lending thousands of years ago.  As long as humans have been trading some sort of currency in exchange for needed or wanted goods and services, there have been those who needed to borrow for what they could not afford.  This began as simple, often interest free loans from friends or family, and grew into the complex and wide-spread system with endless borrowing options that we know of today.  This article will look at some of the ways different societies over different times provided financing to those in need of a cash advance, and how that led us to the modern-era of lending.  As mentioned before, the first cash advances came in the form of loans between family members or friends.  Throughout thousands of years of change and through...

Not All Payday Loan Lenders Are Created Equal - Tips on Finding the Best Company for Your Needs When you need a little extra money to cover expenses between paychecks, you should find a payday loan company you can trust. Keep the following criteria in mind to find the right payday lender to suit your needs. What to Look for from a Payday Lender Full Disclosure All transactions between the lender and customer must fully outline the terms of the paycheck advance agreement. Lenders must disclose the cost of the service fee both as a dollar amount and as an annual percentage rate (APR). A reliable company also ensures full disclosure by making rates clearly visible to customers before they enter into the cash advance transaction process. The loan application and contract should contain no hidden fees or difficult to understand fine print. The customer should fully understand the payment details of the check advance....

When it comes to same day cash loans, you’ve got quite a few options. You can head to your nearest local cash advance office – but that will usually require quite a bit of paperwork, and even credit checks and background checks. Alternatively, you can choose an online provider of same day cash loans. But many online lenders are predatory and offer extremely high APRs and unreasonable repayment schemes – and may even have security vulnerabilities that could lead to identity theft.  So what’s the best choice for your same day cash loans? Mypaydayloan.com, of course! We’ve been in business for years, and offer same day cash loans of up to $600 to approved borrowers! Need another reason to choose us for your same day cash loans? Here are four of them! 1. We’re A Member Of The OLA We’re proud to be a member of the Online Lenders Alliance (OLA)....

My friend Alex, he is one of those people who just can’t seem to get his finances in order; no matter how hard he tries.  I met up with Alex a couple of weeks ago so we could catch up and he could tell me about the new job he had started a couple of months earlier.  Alex was psyched about this new opportunity but was nervous because he was already feeling the pinch of the once monthly pay.   But that’s just part of Alex’ story. He was trying to stay current with his bills but didn’t have enough left in his budget to meet his upcoming rent payment after having to pay a $450 emergency veterinary bill for his dog that ate one of his socks, and his next payday was still two weeks away.  As we all know, the bills do not stop coming just because we are...

If you need quick cash, the best way to get it is with cash advance loans online from Mypaydayloan.com. Why bother going to a payday loan business in-person when you can receive the money you need without even leaving your own home? At Mypaydayloan.com we make it extremely easy to get the cash you need – fast. We offer a fully-online application process, and we can often get you your money on the same day that you apply! We’re not like other loan companies. We offer reasonable interest rates and repayment timetables, provide you with a simple application process, and get you the money you need – fast! So don’t settle for anything less than the best. If you need cash advance loans online, Mypaydayloan.com is the place for you. Learn more about our application process, and the details about our cash advance loans online below.  Simplified Application Process And Same...

Tired of waiting in lines at loan offices, or having your loan application rejected due to bad credit? You’re not alone – and there’s a solution! Mypaydayloan.com offers the best online payday loans around. We can give you the money you need, and you never have to leave the comfort of your own home. Learn more below. We Offer Same-Day Cash Deposits! We know how important it is to get your money fast when you get an online payday loan. Some lenders take multiple days to process your loan application, and don’t even offer direct ACH deposits – you might have to wait for a check in the mail! Not so with Mypaydayloan.com. We can offer same-day deposits on your payday loan, as long as it’s under $600, and we process and approve your application by 12:00 p.m. EST (1:00 p.m. in Ohio). Usually, the application and approval process takes...

Mypaydayloan.com is proud to offer payday loans or cash advances in several states around the country.  From Alabama to Wyoming and Alaska to Hawaii, Mypaydayloan.com offers a quick and easy way to get the cash you need when you need it.  Mypaydayloan.com adheres to the laws of each state it lends in based on each states licensing requirements and payday lending regulations.  At Mypaydayloan.com, we are always following the constantly changing laws and regulations to ensure we can offer online payday loans to as many customers in as many states as possible. There are still states where online payday advances are not permitted, as some legislators are weary of putting their name on legislation allowing payday loans, fearing negative repercussions from supporting a type of loan that can have a negative connotation.  However, what many lawmakers in the states we service recognize is that large banks and other traditional lenders...

If you’re in need of some extra emergency cash, you may be wondering what options are available to you. Two of the most common types of loan are personal installment loans and payday loans. Wondering what the difference is between an installment loan and a payday loan? The team at Mypaydayloan.com is here with a quick guide that will help you understand the pros – and cons – of each type of loan! Installment Loans – Understanding The Basics There are many types of installment loan. Technically, mortgages and auto loans are installment loans, as are student loans. However, for our purposes, we’ll only focus on a particular type of installment loan – personal loans. Personal loans are a type of unsecured loan. That means they do not require collateral. Mortgages, for example, use your house as collateral, and auto loans use your vehicle as collateral. But a personal installment...

    Everything is bigger in Texas. From giant pastures to wide-open skies and sunny shores, Texas really has it all. From pastoral ranches to enormous cities like Houston, you’ll never be short of variety when you live in The Lone Star State! But this can also make it very hard to get a payday loan in Texas, especially if you live in a rural area far away from a traditional payday lender. If you need emergency cash, you may not be able to make it to a lender. So what should you do? Simple – contact Mypaydayloan.com right away! We offer a streamlined online lending process. As long as you’ve got an internet connection, you can apply for a payday loan with us today – and get your money ASAP. Interested? Learn more about our loan requirements and application process below – and never go without the cash you...

  Sunny, beautiful, and scenic – it’s hard not to love the sandy beaches and beautiful wildlife in California! But even in idyllic California, you may occasionally need some quick emergency cash, and have to find a payday loan provider who can help you. Getting payday loans in California can be a real chore. Whether it’s waiting in line at a payday loan agency or filling out forms and complicated paperwork, you’ll have to go through quite a few inconveniences at most loan offices. So why wait? You don’t have to! With Mypaydayloan.com you can get payday loans in California without even leaving your home!  We offer completely online payday loans in California. And with an easy application, minimal documentation requirements, and an easy-to-understand lending policy, we make it easy for you to get the cash you need – for groceries, emergencies, medical bills, and more. Learn more now.  Easy...