Cash Advances Uncovered

A cash advance is nothing more than another name for the payday loan.

This is also one form of lending money to a borrower who is need of money for an unexpected emergency. Sure, you may be able to get the money for an emergency by borrowing from family or friends, but there are no assurances that you will definitely get the money quickly using these methods. Also, borrowing money from family and friends has been known to create all types of problems in these relationships.

An alternative and likely better way to get the money that you need is to apply for a cash advance online; the process is pretty easy. The lenders who provide cash advance services target specific people and will only provide loans to those who are earning consistently and just need some extra cash to help them out during an emergency or other temporary need.

If the borrower is unable to repay the money back within an agreed upon time, then the cash advance lenders will change significant interest, typically higher than other types of lending. The cash advance loan provider lends money to the borrower only for a short period of time (usually from 2 – 4 weeks at a blocks).

The government has taken an interest in the cash advance industry and restricted company’s’ lending abilities as a result. But the demand for this service has grown so much and as a result has encouraged them to do persevere with their businesses. As this business no doubt has great profit potential, many cash advance lending companies have launched which has created massive competition in the marketplace, and now they’re lending at cheaper rates than ever before.

So all you have to do is just search for a company that will charge you the least amount of interest for the funds that you need. By doing this you can protect yourself from exploitation by these companies.

To apply for a cash advance you have only to provide details of your paycheck and then you have to repay the loan on your agree upon payday.  So now instead of bothering your friends and relatives for money in times of need, you can maintain your privacy, independence and dignity and easily get a cash advance to solve your temporary money problems.

It is important to note that a cash advance will only be given to people who are 18 years of age and are usually earning more than $1000 per month.

The process used to secure a cash advance will vary from one company to another, but usually the lender will deposit the loan amount straight into your bank account on the receipt of a post-dated check from the borrower. The check is cashed by the lender once the borrowers next wages are in their account. The amount the check is made out for will include the lenders fee as well.

It is advisable to only use cash advances to meet short term unexpected bills and emergencies. This is not a source to tap into use for  long-term emergencies. Doing that would be a good way to get yourself into a lot of uncontrollable debt.

It is usual for established cash advance companies to have an office located in most large towns and cities as well as being online. The cash advance industry has done a good job overall in helping people to get through life’s little emergencies in a convenient and private way.

Before you apply for any cash advance, do thorough research to make sure that the company is a legitimate lender with a solid reputation, and that your personal information will be secured and protected at all times.

24 Replies to “Cash Advances Uncovered”

  1. It’s best to educate yourself first before opting to this solution. If the loan is not paid on time, fees may double and it can leave you in a real financial difficulty.

  2. The cash advance system is amazing. Not everyone has a friend or family that they can go to, especially when it comes to money problem. So glad to know that we have this system since it could be useful for emergency.

  3. I like the idea of a cash advance. It will help me to get extra cash in times of an emergency. I think I may apply for one soon. Bye.

  4. I feel this is a great system that can be used by anyone in case of emergency. And surely its much better than borrowing from friends and family because its not harming any relationship.

  5. The cash advance system seems really beneficial for anyone with a steady earning. But if the true picture is good for the people and the interest rates are also low due to competition, why does the government want to restrict this industry?

    1. Because of some bad apples not being upfront about their terms and fees. But there are obviously legitimate lenders out there which is why the lending industry is still going for people of all types of credit. Again, just do your due diligence, ask questions and make sure that you know what you’re getting into. The good thing now is that most lending companies are operating on the up & up because they know big brother is watching;)

  6. I agree with the idea for applying cash advance in times of emergency situations instead of seeking financial assistance from friends or relatives. Aside from maintaining good relationship with them, applying for cash advance will keep your privacy. But as mentioned by the author, one must be careful in choosing legal lenders. Taking some research can help a lot before applying for one.

  7. This is a great info regarding cash advance as most of us are afraid and feel not qualified to apply for one. I also agree that borrowing from families/relatives will cause conflict when things are not settled upon agreement while cash advances will just put on their interest. Thanks for enlightening us.

  8. I agree with the idea of cash advances and what you said about using it only for short term emergencies. It would be really handy to have some immediate cash available to be withdrawn in those cases. I am a university student however without a part time job, so from what you said, I would probably not be granted one. Do you know of any other options for people without a steady income? I am also interested in knowing if the $1000/month has to be on one pay check? What if you have a variety of jobs that add up to $1000/month?

    1. As long as you have verifiable income (even through varied sources), then you still may be able to qualify for loan from some companies.

  9. This is great info. I was researching cash advances from different companies before I can across this post. It would be great to know which companies are reputable. There’s so many out there, it’s a bit overwhelming. Thanks for all the tips!

    1. Yes Amanda, there are a lot of cash advance lenders to filter through these days, and currently we don’t recommend any particular companies. But I’d say for now if you can find one that has an brick & mortar as well as an online presence – along with good reviews from various 3rd party sources such as the BBB, Yelp and other review sites, then that may be a company worth doing business with.

  10. I was skeptical of cash advances for a long time, they always seemed a bit shady, but when I hit financial trouble and needed to make a payment on my car, I saw their utility in full. I could have asked my brother for money, sure, but as the article pointed out it would have “create(d) all types of problems in (my) relationships.”

    A simple and quick cash advance was enough to get my vehicle fixed and I had it payed off at the next pay day. If these weren’t around then I would either have had to wait, and potentially lose my job, or borrow money from my brother and who knows how that would have went!

    The utility of a quick and well researched cash advance should not be discounted!

  11. I have to admit that this Cash advance Idea will be really helpful for those persons who are really in need, and for those who happened to be short in their budget. But let’s come to think of it, if we are just only strict and discipline on our daily budgets, and stop spending on not so important things, we will have minimal or absolutely zero need to borrow money from our family members, and these companies. If we will just learn how to manage our money properly and wisely, it will help us avoid debts on other people, and future problems that might occur, like increasing interests that you cannot pay at all and even more worst things.

  12. Although I’m not against lending companies or those who apply for cash advance loans, I personally do not support this method of acquiring extra cash. I do agree that research is important as well as thorough understanding of what you will be getting into before you take any step. Make sure you will be able to fulfill your financial obligations in time to avoid other problems.

  13. It’s a great idea. Now, I don’t have to go to my relatives for asking them to lend money. I can handle my finances with the loan and repay back. Thanks

  14. The idea of getting a cash advance from a reputable lending company is definitely a practical idea especially if you need the money quickly for an emergency.
    I myself did attempt to try borrowing cash online. Lending companies have fields in their website you really need to fill up especially questions regarding your finances like where will you get the money to pay up your loan, how long you’ve worked for the company you are with, how much you earn and personal references as well. I attempted to apply out of curiosity and for future reference but I did not submit my application.
    Saving up and spending within your means is still the best way but as for unforeseen circumstances like emergency hospitalization of a loved one and your savings is not enough to cover everything, a cash advance is a plausible backup plan. Just be prepared to pay up within the terms you set for your loan.

    1. You said it! “Just be prepared to pay up within the terms you set for your loan”. This is the most important thing of all. Thank you and everyone for your comments.

  15. I believe this is a great way to overcome stressing times when money is needed. It is especially good for people that don’t have credit scores, or that don’t have close friends or relatives with liquidity.

  16. The idea of Cash Advances is Brilliant! It helps the people financially without worrying how they can pay certain items they bought even it is out of budget. It also helps middle income earners or the like to have security and assurance for their purchasing needs. As the author said, just double check the credibility and legitimacy of the company you are engaging and surely you can always count on this kind of service.

  17. Cash advances are good and helpful if the borrower can pay on time, and if they borrow for real emergencies. It’s a bad idea to borrow money just to buy something you cannot afford.

  18. This is very much informative specially that a lot of people
    nowadays get tangled with debts. Cash advance is more convenient and reliable rather than waiting for your family and friends to lend money to you.

  19. I think it’s a great deal given the fact that everybody can go through a sudden accident or need for a little cash. And the fact that there are several options that can comply to your best interest or to your better reach is highly appreciated during those times of need.

  20. Extra income would help me with the little things in my house. Also it would help with being able to fix older things in my house that need a little upgrade

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