Predatory Lending: Last Week Tonight with John Oliver (HBO)
Payday loans put a staggering amount of Americans in debt. They prey on the elderly and military service members. They're awful, and nearly impossible to ...
Payroll Cash Advance Loans – Do I need a payday loan?
Payday loans are an accessible solution for those that have found themselves in a financial bind without access to other means to acquire cash quickly. If you’re in a position where you think you need a payday loan, answering the questions below could help you decide if this is the best decision for you.
How will I use the money?
Single pay loans should be used for emergency or required expenses. We recommend that customers aren’t using single pay loans to pay for expenses or items that are not urgent. Payday loans were created to help consumers out between paychecks, hence their name. This is another viable reason to use a payday loan; if you’re struggling to make it to your next paycheck and are concerned you will overdraft your account. You can get a payday loan to avoid the fee and pay it back once payday arrives.
For example, if your car breaks down and needs an urgent repair in order to run properly or you’ve had to make a sudden trip to the emergency room and can’t pay the fees out of pocket, these are both great reasons to utilize a single pay loan.
Allied Cash Advance may, at their discretion, verify application information by using national databases that may provide information from one or more national credit bureaus, and Allied Cash Advance or third party lenders may take that into consideration in the approval process. Credit limits range from $250 to $1500.
A payroll loan may be just the thing that you need if you have an unexpected expense that occurs between paydays. Also known as a cash advance, these kinds of loans are short-term for small amounts of money, up to $1,500, to assist until the next payday.
We have made it extremely easy to find online short-term loan solutions from reputable lenders. Qualifying for a payday loan or cash advance is extremely easy and in most cases there are no documents to fax! Upon approval, the funds you request will be directly deposited into your specified checking or savings account for maximum convenience.
Deductions and payroll advances: Be sure you account for taxes and anything else, such as insurance premiums, when you calculate the advance amount. There are a few payroll deductions that can be made that reduce an employee’s pay below minimum wage and loans and payroll advances are included in that list.
Payroll Cash Advance Obtaining a cash advance is a fast solution for people who run short on cash while payday is still weeks off. They are meant to provide a short-term financial solution to unexpected cash-flow problems.