With the current state of the economy we are all scrambling for money like never before.
People don’t spend money like they used to so business’s are suffering. Any money that has been saved up is no longer available, and many Americans are living paycheck to paycheck.
There comes a time when we need a short term cash loan and have exhausted all other options. We can’t find friends or family members to help us out. We’re stuck between a rock and a hard place. That’s where a cash advance service comes in.
Payday loans and Car Title Loans have been becoming the number one sources for a short term cash loan. Several companies are popping up like 100 need cash with saying like “fast payday loans online no fax.” Be weary of applying for loans that you don’t do in person. Because of the state of the economy there are several business’s offering a cash advance service.
The first short term cash loan options is a pay day loan. Payday loans are loans that you pay back on payday. You write a post dated check for the loan amount plus loan fees. You are then scheduled to come back at a certain date to pay the loan off. If you never show up the lender has the right to redeem the check. This can make things even worse for the borrower.
If the money isn’t in the account when the lender redeems the check the borrower is now facing overdraft fees, plus additional fees from the lender.
The other type of loan is a car title loan. In a car title loan you put your vehicle up for collateral in order to secure the loan. The lender puts the vehicle in their name while you are paying the loan off. You get to use your vehicle while paying off this loan. If you default on the loan you may get your vehicle repossessed so be careful.
Both these types of loans are short term, and have large interest rates. They’re are designed for people who are generally in a bind and have no other alternatives. If you are interested in applying for a either a payday loan or a car title loan and you are in the greater Los Angeles Area, please fill out our online loan application and we will get back to you right away. Also feel free to send us any questions you may have.