Unexpected expenses are often the cause of financial strife for an individual or family. When an unexpected bill comes in or a forgotten expense is almost due, it might be necessary to seek the help of a cash advance lender like AdvanceLoan.net. The lender is able to provide funding to manage the situation without a large amount of paperwork or time-consuming background checking.
A cash advance lender is a professional who works with consumers during financial emergencies. The lender will provide short-term, small funding solutions based on the needs of the consumer and the financial ability to repay the cash. In most cases, the loans are small enough to repay with the next paycheck from work.
While lenders will usually have set options for repayment time periods, some flexibility is provided based on the payday. The lenders will usually allow one to two weeks before the funds are due. In some areas, consumers are also able to obtain a small loan for four weeks, which is ideal when the paycheck comes in once-a-month instead of once every two weeks.
Fees and Repayment:
The fees and repayment solutions are variable based on the situation and the lender. Since a cash advance is a short-term loan, consumers will need to repay the full amount of the loan plus added costs on the due date provided.
The lender will usually provide a contract that discloses the total yearly interest, the fee charges per $100 borrowed and the date the funds are due. The contract ensures that consumers are aware of the due date and will have the funds available before the repayment is necessary.
Depending on the situation, repayment methods will vary. Online lenders will usually charge an account directly while a lender’s office might require a check before the cash is provided. Regardless of the repayment solution, the full amount of the loan and the added expense from fees are due on the date provided.
If the loan is not repaid, then the lender will roll-over the debt and add to the fees. The fees will increase by the same amount as the original fees, which double the expense of the loan.
Lenders for a cash advance will have specific short-term financial solutions. Since the loans are designed for emergency expenses, the lender will expect full repayment after the next payday makes the cash available. Lenders are careful, but have solutions available for any situation.