Cash Advances - Payday Loan Options

by : Michael Tagnani

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The number of cash advance applications increase daily andpeople are turning to these short term loans for a number of reasons. Theproblem is with so many options out there, how do you decide what you should belooking for in a cash advance company? The consumer has the option of findingan online cash advance lender or going to a storefront location. Many peopleare leaning towards online lenders for the ease and confidentiality theyprovide. Most online payday loan websites allow you to process your entire loanelectronically versus a storefront operation that requires you to bringdocuments into their office. The less embarrassing situation of not having tobe face to face with a cash advance agent also brings many people to onlinelenders. The lender that you ultimately choose should offer the benefits listedbelow.

1.?????No CreditCheck – With the availability of cash advance lenders you should always beable to find one that does not require a credit check to approve yourapplication for a cash advance. The majority of these lenders consider your jobas your credit since you are essentially getting an "advance" of yourpaycheck.

2.?????No HiddenFees – The payday loan company you choose should be honest and upfrontabout all fees associated with your loan. Some companies will try to nickel anddime you with application fees, processing fees, and other unnecessary charges.Beware of this. A reputable cash advance company will not charge you anyunnecessary fees.

3.?????Low Rates– Cash advance companies charge on average from $15 - $50 per $100 borrowed. Doyour homework and find a lender promising the lowest rate. Sometimes doing thistype of research may take you a little bit longer, but the money you will savemakes it worth it.

4.?????DirectDeposit – This is an important feature for your payday loan company tohave. Many companies require you show proof of payroll direct deposit to yourchecking account. This reduces the risk of default on the repayment of yourloan when it comes due. The great thing is that these cash advance companiesalso ensure a quick money transfer of your loan funds to your bank account on thenext business day. The direct deposit requirement eliminates the hassle ofwriting a post-dated check and ensures that your loan is paid on time.

5.?????MinimalPaperwork – A good cash advance lender will only require proof of employmentincome, such as a current bank statement or a pay stub. This allows them toverify that you have a stable, reliable income and no other outstanding cashadvance loans. Some online lenders offer you the ability to send thisinformation via email which eliminates the need for a fax machine.

The most vital characteristic of a cash advance companyshould always be their customer service. The cash advance agent you choose needsto have the attitude of "do what is best for the customer." Once youfind a company that you would like to use, work with them to help youunderstand the entire payday loan process. On your quest to find the best paydayloan company, beware of lenders that try to push you into a loan that is notright for you. Be leery of any lender that pushes you to borrow more than youcan afford to pay back comfortably.? Inthe endFree Web Content, you should comfortable with your decision and you should feel like allof your questions were answered.