Almost all of us have experienced that difficult period from the day after payday to the next payday. If you would name your salary using any movies title then it would go along the lines of The Hunger Games, Gone in 60 Seconds, 12 Years a Slave and so on. Sure it might seem funny, but we really do need a sort of fund to get us through those dark days. And that’s why payday loans were created.
Keep in mind that there are tons of websites and facilities out there that offer payday loans, all you need to do is choose the one that appeals to you the most. We’re here to give you a brief introduction on payday loans since we’re sure that you’re fairly new to all of this. Also, we’re not forcing you to go out and get a payday loan; we’re only providing another option to survive those days where the next payday seems to get farther and farther away.
What are Payday Loans?
Payday loans have other numerous terms like payday advance, cash advance loan, payroll loan and salary loan. It’s basically a short-term loan where a person borrows a small amount of money at very high rates of interests. Usually, the borrower would issue the facility a post-dated personal check bearing the total amount he or she borrowed along with all the additional fees and interests.
In turn, the lender will keep the post-dated check until the date it can be negotiated. The date of negotiation on the check is not required to be the date of the borrower’s next payday. This is a great way to borrow money in short notice, you basically don’t have to look for properties to give as collaterals or proof that you are able to pay the amount you loaned.
Website that Offer Payday Loans
As we said, there are a ton of websites that offer payday loans, but we’re here to discuss a trusty website called LendUp.com. You can borrow up to $250 for up to 30 days without good credit in within short notice. A shocking 47% of Americans can’t cover an emergency expense of $400, that’s why a lot people are forced to sell their belongings or go to pawnshops in order to cover all the sudden costs. You don’t to do that anymore with the help of websites like LendUp.com
They made it their mission to provide just about any person out there a chance at better financial health. Loans here are offered online with a service time of 24/7, they want to adjust to your time. Amazingly, it takes minutes to apply and a few more minutes to receive the loan. It’s their belief that credit loans can bring a peace of mind and relief. Just because someone applied for a load doesn’t mean they can’t use that loan for the betterment of their finances.
Single payment loan is one of their options, it’s a practical way to borrow money fast and easy and their instalment loans also offer up to $1,000 for all the qualified customers. Also, they implement a type of system they call the LendUp Ladder. Basically, the borrower continues to loan and make great payment in order to earn points. The higher the points a borrower earns, the higher their credit limit becomes. Borrowers who are ranked high in the LendUp Ladder are able to apply for a bigger at a much lower interest rate. Not only that, but you’ll the chance to take their free financial education courses, who wouldn’t want to take any type of course to greatly improve their finances?