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Can a Short-term Loan Actually Save You Money?
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Yes, Short-term Borrowing Services Can Save You Money...

Did you know there are a lot of ways you can save money by taking out a payday loan? Sure, any type of borrowing service will cost you some funds to borrow, but the savings you can take advantage of are often well worth it. Here's a look at five different situations where you could save funds and benefit from using our free service to get the money you need quickly:

  1. Have you ever been late paying your rent or mortgage? For many apartment complexes, failing to pay your rent on time can result in a hefty fee - often times over $50. If you are consistently delinquent or bounce checks, your landlord could even have you evicted from your apartment. No one wants to deal with the hassle or fees associated with that, so save yourself the expenses by relying on unsecured lending services.

  2. Before, if you bounced a check, no one was the wiser except for your bank and possibly the party to whom you wrote the check. On this new scoring system, a bounced check could mean serious damage to your credit, but payday loans can help stop this from happening.
  3. An example of a time when it is beneficial to use a cash advance is to pay off a previous cash advance. Most companies allow you to take out another cash advance at the end of your term if you are not able to pay it off. This allows you another chance to get on your feet and come up with the funds without penalty. You will still be required to pay the accumulated interest but you will not have to pay the lump sum at the end of the first term.
  4. If you've been delinquent in paying one of your credit card bills before, you know what a major inconvenience it can be. While everyone knows about the ridiculous cost of late fees, there's another issue that can arise from making delinquent payments. After a couple delinquent payments, creditors can make the decision to increase your interest rates. Depending on your credit card balances, higher rates could cost you hundreds of dollars more each year. That could also make your minimum monthly payments much higher. Obviously, the one-time cost of short-term borrowing beats paying higher credit card rates any day.

  5. We all dread having to deal with car problems and repairs. They sneak up on us when we're least expecting it and can easily cost hundreds, if not thousands, of dollars. Often times, we're faced with the choice of requesting funds to get the repairs immediately or waiting until our next paycheck. While waiting until the next paycheck may work for some people, others need their car to get to and from work every day. If waiting to get repairs means having to miss a few days of work, and thus make less money, then you should strongly consider applying for advanced funding immediately.

  6. Here is a situation many people find themselves in - there's a great sale on an item they've been planning to purchase for a while, but they don't quite have enough cash for it. In the end they purchase the item once they have the funds, but miss out on the sale. Why not borrow funds to make the purchase and take advantage of the sale? As long as the money you save through the sale is more than the cost of the convenience of borrowing, you're coming out on top!

  7. One of the great offers that many stores and credit card companies offer is an interest-free period on certain purchases. For instance, certain televisions or computers may be purchased on your store-specific credit card with no fees for 12 months. However, if the purchase is not paid off by the end of those 12 months, all of the interest you would have accumulated will be added to the debt. In this case, it definitely makes sense to request an advance and ensure that the debt is paid off before the promotional period ends.

Are There Borrowing Options That Don't Come With Interest Charges?

If you were to ask people what their number one complaint was with unsecured lending services, we would bet a lot of them would say the interest rate. If you have paid attention to the news, or this past election season, you know many states had short-term lending bills on the ballot. Many of these bills were aimed at trying to regulate the amount the lender can charge on top of the requested sum. Many people are trying to find their way around this trouble. If the service comes with no fees or financing charges, you can refer to it as free money. This is essentially what they are giving you. If you need $300, they will give you $300, and you will pay them back $300. There is no incentive for them to lend you funds, and there is no incentive for you to pay back on time.

You might not realize this now, but a late fee on repayment might be worse than any fee you face. This is because the penalty can continue to occur if you continue to miss payment. A situation like this can do much more damage then you had thought any financing charges might do. If you follow the rules, you will find things go much easier and the charges you dreaded so much initially is not as rough as you thought. Keep an eye out for anybody who promises you interest-free services, because they are too good to be true. In the end, pay more attention to the rules you will face.

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