Quick Cash Advance Loans
Getting one with a bad credit rating
A celebrated New York bank once ran an advertising campaign posing the question: If it took six days to create the world, why should it take four weeks to get a loan? And they had a good point. Anyone who has tried to get a quick cash advance loan will know that it can be a frustrating and expensive business. Yet there are endless reasons why you might need to borrow cash in a hurry; ranging from emergency medical fees to forgotten utility bills.
Homeowners are best placed to get quick cash advanced loans because they are able to use their property as security against the loan. Similarly anyone who’s in regular employment (with a clean credit history) won’t have any difficulties getting a loan. The problems arise if you’ve got a rocky financial record. However, there are still some open doors:
The first step is to visit your local bank or credit union. Many people feel stigmatized by debt and ‘don’t want the whole town knowing their business.’ However, most banks across the states are more than happy to organize an advanced loan (irrespective of your financial history) provided you already have a checking account with them. Interest rates and repayment terms will be much more favorable than taking your custom to an independent loans company. If they aren’t prepared to help you with a loan; it may still be worth enquiring about a credit card.
Loans companies rarely represent good value for money and should be seen as a last resort. As you are regarded as a financially ‘risky’ investment the loan providers need to make sure that they have their backs covered. On a practical level this means sky-high interest rates and a hefty ‘administration fee’. If you are able to meet repayments on time; the loan might be useful in helping you out of a tight spot. However, if repayments are defaulted you could soon find yourself up to your neck in debt.