The Inside Scoop on Payday Loans
A payday loan is an unsecured loan not dependent on collateral such as a car. It is considered a small short-term loan to be repaid on your next payday. You can apply online and the money loaned can be credited into your bank account on the same day.
The most common amount lent for first time borrowers is $300 or more maybe depending on your income. Approval rates are best when you ask for the minimum amount of $300 so it is advisable to only ask for that much the first time. Once you have successfully repaid your loan they may then offer to lend you more in subsequent loans.
Who Can Apply for a Payday Loan?
Eligibility for a payday loan is that you have been employed for at least three months and you are 18 or older. You must also have a bank account with a valid debit card. You should be able to get the money even with a poor credit history if you meet the above criteria.
Best Way to Repay The Loan
According to the contract you repay the principle plus interest on the date agreed upon. The repayment date is usually your payday hence the name payday loan. The repayment may be collected by debiting your bank account on your next payday.
Loan Extension Requests
If something comes up and you are unable to repay the loan on time you can ask for an extension. If this happens it is recommended you contact the lender and explain your circumstances so they can explain your options.
The Benefits of Payday Loans
Approval Rate: Most people like how easy it is to get the money they need. The money you need can be available to you in your bank account the same day you apply. This can be very helpful if you have a short-term cash flow problem and need money right now.
The application process is very simple it takes a few minutes to apply and you do not have to waste time posting or faxing documents to the lender as you would with a bank loan for instance.
Bad Credit: These types of loans are designed for people with poor credit. This is because payday loan companies do not make their decision to lend solely based on credit history. As long as you meet their needs they can give you what you want.
The reason payday loan businesses seem to be everywhere is because they can meet the needs of people who do not meet the criteria of the banks plus banks will not lend small amounts for any reason.
To Wrap This Up
There are a lot of good people who do not have a credit card or established credit so they use payday loan companies to help get them through a tough time.
All in all getting a short-term loan is easy and convenient giving you access to money when you need it without the hassle of getting rejected at the bank.
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Calgary's rate per 100,000 people was down from 2.25 in 2016. There were 31 homicide victims in 2017, compared with 33 the previous year. Edmonton's rate of 3.49 and Winnipeg's of 2.96 for every 100,000 people were the highest last year of any cities in Canada with a population of 500,000 or more.Nov 21, 2018
Philadelphia Belt Line Railroad. ... It was created in 1889 to allow any Philadelphia railroad to access the waterfront. The railroad, which does not operate any trains itself, is currently maintained by Conrail Shared Assets Operations and used by CSX Transportation and Norfolk Southern Railway.
DescriptionThe hip Beltline area is bounded by 17th Avenue SW, with cool boutiques selling fashion, retro furniture, vinyl and quirky gifts. Dining spans trendy taco joints, locavore eateries and Korean restaurants, while nightlife encompasses craft beer pubs, live music venues and dance clubs. There are landscaped gardens at Central Memorial Park, while nearby Stampede Park is known for the annual Calgary Stampede rodeo.