10 Dollar Payday Loan- the Answer That you are Looking for

By: Apurva Shree

A 10 dollar payday loan can be the solution you are looking for when you find yourself in a tough financial situation. There are millions of Americans who live from paycheck to paycheck. Cash crunch is a hard reality for them. The situation gets tougher if they have to deal with a financial emergency. Under such a situation a 10 dollar payday loan can help you keep your head above water till your next paycheck comes by.

Helping You Deal With Emergencies

There are all sorts of emergencies that can leave us wanting for cash. And we all know that emergencies always happen when we least expect them. Let us say that everything is going as smoothly as planned. Your budget is tight but well made and planned. You do have a saving. However, one fine day your car breaks down and that was your sole means of transport. You have to get it fixed but you do not want to dig into your savings. There is still a week and a half left till your next paycheck is in your hand. Now you are left thinking what you should do.

The answer is quite simple and convenient- take a 10 dollar payday loan. You must have seen the ad on TV, in newspapers, magazines, or on billboards. This loan is a short term loan that you can avail till your next paycheck. A lender will be more than willing to lend you a ten dollar payday for two, three, or even four weeks. First timers can borrow anywhere between $200 and $1,500.

At this point of time you must be eager to take a 10 dollar payday loan. However, you must first take all things into consideration. If you meet all the requirements, which are not hard to meet, you can get a 10 dollar payday loan within 24 hours. Sometimes it does not even take that long. However, the easy availability of the loan should not make you overlook the cost of payday loan.

Interest Charges

A 10 dollar payday loan would cost you $10 per $100 borrowed. And this is for first timers. This is quite realistic for many borrowers. However, this low cost can soon become a high cost if you fail to repay the loan on the first due date. The rollover will cost you extra in terms of fee and after the rollover the interest charges are going to increase too.

The moral of the story is that no credit ten dollar payday loan is surely the answer to your financial emergency, but you must always remember to pay back your payday loan on time to avoid it becoming a debt trap.

Payday Loans
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