Ten Dollar Payday Loan- an Answer to your Financial Problems

By: Apurva Shree

Ten dollar payday loan is an option that you can consider if you ever need emergency cash on a very short notice. It is a plain fact that one can never be truly prepared for an emergency. Sometimes an emergency can leave you short of cash. That leaves you wondering how you are going to manage till your next payday.

The answer is simple. A ten dollar payday loan can easily bail you out of the trouble. Let me explain how. 10 dollar payday loan is a term given to a short term payday loan. A borrower is charged ten dollars per hundred dollars borrowed and this is why it is called a ten dollar payday loan. It is a short term loan that is given for two to four weeks' duration. This gives the borrower enough time to tackle the emergency and pay back the loan on the next due date.

Extending Your Due Date

Here you might be thinking, what if I cannot pay back the loan after two weeks or four weeks? Again that is not a problem. You can simply request the lender to rollover the amount. Obviously you would be paying a fee for that and you would also be paying more interest. So you can understand that it is not wise to continuously extend your payday loan. Those who are in the habit of continuously extending their ten dollar payday loan often fall into debt.

Known By Many Names

A payday loan has many names. One of it is no credit ten dollar payday loan. It is so called because borrowers are not subjected to credit checks to qualify for a ten dollar payday loan. Becoming a ten dollar payday loan borrower is quite simple as there are no major requirements. First and foremost, you have to be a citizen of USA and you have to be eighteen years or above. Next, you need to be employed for the past three months. Your monthly income should not be below $1,000. And last but not the least; you need to have an active checking account or savings account.

So even if you have a bad credit history, you can still hope for relief from a no credit ten dollar payday loan. However, you must keep in mind that even though your credit plays no role in the approval, non payment of your payday loan will have a negative impact on your credit score. If your goal is to improve your credit score, the best way to do it is by paying back your payday loans on time. Over a period of time you will see an improvement in your credit history.

Ten dollar payday loan is an effective tool to solve yourimmediate financial crunch and it helps you to keep away from debt. A payday loan is truly a friend in times of need.

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