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Are Payday Advances a Good Option for You?

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In today's world, surprise expenses are everywhere we turn and not all of them are enjoyable. Surprises can include an unforeseen emergency room visit, an unexpected move, or even an untimely death. When the unpleasant surprise happens, bills can get behind creating a financial hassle most try to avoid. The biggest hassle is the late payments and overdraft fees that can accrue, causing your finances to become messy. Not only can late payments create hefty fines, but they can also add stress to an already stressful life. Even if you financially plan ahead, one day something is going to happen that will leave you needing monetary help.

Consumers who find themselves in a financial bind tend to make undesirable choices. For instance, consumers try cutting back on other expenses, rely on family and friends, sell personal and non-replaceable possessions, or neglect to pay their bills until a later date. According to Experian, 61 percent of adults between the ages of 30-49, suffer from paying their bills past the due date. However, consumers have another option. One they might not have considered. They can get a small personal payday advance loan through Mypaydayloan.com.

Despite the high-interest rates, payday advance loans are still cheaper than having fees and fines that accrued from paying a bill late. The Urban Institute reported that one in every 20 American is at least 30 days behind on their credit card payments. However, consumers need to think twice about waiting to send their credit card payment. Not only can credit card companies charge a late payment fee, they can jack up your already high APR and can increase your yearly fee. Yes, there is a cap on how much a credit card company can charge consumers. But what the credit card companies don’t mention is that those fines are allowed to climb each year. All the credit card companies are required to do is send a letter notifying the consumer 45 days before they up the fees and fines. A payday advance loan can help relieve a consumer’s piling credit card debt and can save him or her from the nagging penalties and late fees. 

Not only are credit cards allowed to charge outrageous fines and fees, but your local bank is allowed to do the same. Some consumers send checks knowing that the bank may cover the payment, and take the overdraft fee as an insignificant punishment. However, overdraft fees can become a vicious cycle that creates an even bigger financial problem. An average overdraft fee results in anywhere from $30 to $40. That is per overdraft. So, if you overdraft two items, then you are looking at $60 to $80.

Payday loans are scrutinized for high fees, yet banks are allowed to charge overdraft fees, no matter what the cost of the purchase. Say, for example, you bought a coffee for $5 and then grabbed something off a value menu for a buck; however, your account was unknowingly overdrawn. The bank can charge for both fees, making your account anywhere from negative $66 to negative $86. Furthermore, what if you, the consumer, do not get cash back to the bank within a certain time frame? The bank feels entitled because you have yet to bring your account back to positive and charges an extended overdraft fee. The bank makes almost a hundred dollars, and you only spent six dollars. By the time your payroll check hits your account, you could be looking at half of your check being demolished by fees that you did not budget for. With half your check gone before it even hits the account, how are the next week's bills going to be paid? It becomes a vicious cycle that banks enjoy. Because of the overdraft fees, the bank can flourish while its clients tend to struggle.

According to a CNN article, in 2016, consumers who banked with JPMorgan, Wells Fargo, and Bank of America paid $5.4 billion in overdraft fees. That is just three banks. That is not even calculating in the smaller banks and the community banks. The Consumer Financial Protection Bureau states that if a consumer pays a $34 overdraft fee for a $24 transaction and borrowed the money for three days, the consumer is technically charged 17,000 percent APR. Imagine what the APR would be if you waited four days to repay the borrowed money.

Not wanting to pay the harassing fees charged by a credit card company or by your friendly bank, a payday advance might make your life just a little less stressful. The application process is fast and simple. Furthermore, Mypaydayloan.com has higher funding amounts, and the money can be in your bank account within 24 hours or less once approved. Unlike pesky credit cards and banks, Mypaydayloan.com will charge a flat rate with no hidden fees.   

With a payday advance loan, you can alleviate having to take drastic measures. There is no need to cut back on expenses, no need to delay other bills and rack up even more, fines, no need to burden your family and friends or feel pressured to sell personal possessions that you have worked hard for.  

Mypaydayloan.com is there to help those who find themselves with unfavorable financial surprises. No collateral is needed. In most cases, Mypaydayloan.com can approve your application and have up to $1000 sitting in your bank account within 24 hours. Applying online is quick and easy, not to mention much more convenient than driving to the nearest storefront payday lender. After applying and being pre-approved, you will receive a phone call within just a few minutes to verify your information and process the loan. The best part is there is not a traditional credit check.  After approval, the Mypaydayloan.com staff is there to help you get back on your feet.  They will send payment reminders before the payment is due and they will always work with you if you need more time to pay.

If you have a bank account and a job, then what is stopping you from attaining your financial stress relief? Apply today with a lender who cares.