Payday Loans

I heard so much about these payday loan sites that offer quick help when you are in need of immediate cash for emergencies. I haven't really tried it myself but I know some friends who did.

So I did a little reading on this just out of curiosity. Not that I would do it as don't have a need for it right now and most of all, I do not have a full-time or permanent job. I know lenders will have a criteria to see if one qualifies for these types of short-term personal loans.

So here's what I found out. First, an advantage of online cash advance payday loans to most consumers is that they are offered to people with no credit, poor credit or bankruptcies. Second, they can be done anonymously to the public and in the comfort of one’s home. Third, unlike traditional lenders, online payday loans lenders do not require credit bureau reports from Experian, TRW, or Equifax. Instead, most online payday loans lenders use consumer information services provided by Tele-Track. These services do not check your credit history. They simply verify the applicant’s personal, employment, banking and lending information. For this reason, it is extremely important to answer application questions truthfully and accurately or your application may be declined.

I personally wouldn't recommend it if you just use the money for unnecessary things, like buying yourself jewelry or luxury items. Of course, you have to think of the interest rates and how much you're really paying back once it's all said and done. So a word of caution: do your own research first on sites that offer payday loans or cash advances.

One site I found that can help you review and rank these cash advance sites is TrustSource.org. They rank sites according to consumers' votes and their own personal experience with the lender. Check it out, if you need to get some quick cash now.