An Alternative If You Do Not Have An Emergency Fund

by Sean on April 24, 2017

As we’ve talked about many times before, it is really important that you save money for a rainy day.  Some like to call this having an “emergency fund”.  Even if you just tuck away one hundred dollars a month, this will help you in time of need.  It’s best to always hope for the best, but prepare for the worst.  It is inevitable that we will eventually come into situations where extra funds are needed, so why not prepare for these times in advance?

However, if you haven’t been able to save enough money to cover an expense that has come up, you do have other options, although some of them can be very expensive.  Below are some tidbits of information regarding applying for a quick cash loan, which is one option available to you.

The paperless process of applying usually results in instant approval for a quick cash loan. You’ll see the funds in your checking account very soon once the loan gets approved. It only takes around 24 hours before the funds show up and enable you to meet your emergency obligations like car repairs, doctor visits, and others.

Submitting Application

Prior to applying for any cash advance, you must acquire your employment and contact information. For this, you’ll need to have some time. You’ll be able to find all important information from a check stub or any of your most recent bank statements.

If you look at one of your paper checks, you’ll find the routing number of your checking account. Before receiving your cash advance you’ll need it, although you won’t need it to submit your online loan application.

Instant Approval

It will just take 5 minutes for cash advance companies to process your loan application with the help of automated technology. All that you need to provide them with are your income history and your contact information. Your credit history or other financial factors don’t affect your eligibility for a quick cash loan in any way.

The process can be completed soon after you receive the approval notice post verification. You’ll need to follow the instructions carefully. You may achieve cash advance loans for any amount between $1,000 and $5000. The provider may need the Direct Deposit facility to transfer the funds to your checking account within 24 hours.

Fast Processing

You don’t need to visit banks or other lending houses once you start using cash advances. The entire process is paperless and this makes things easier for processing. There’s no need for you to get copies of your social security payments faxed to the lender.

You may submit your loan application anytime during the day as all deposits and applications are accepted 24/7. Your funds are likely to be dispatched by the bank sooner if you avoid weekends and federal holidays.

Automatic Payments

You may handle cash advance payments while you’re online. The loan payments are bound to be charged on your checking account right on your due date, which follows your payday. It’s up to you, whether you’d like to repay the entire loan amount, a portion of the principal or the financial charges. You may achieve certain Flexi-payment solutions with the cash advance companies.  Of course, if at all possible, pay back these loans right away as the amount of interest you will pay is extensive if you don’t.

Easy to Reach

All leading cash advance companies make it easy for their customers to reach out to them. The more traditional means to contact are through email and telephone. Communicating with customers has become even easier with the introduction of fax and instant messaging.

All in all, quick cash loans may play a part in helping you pay for an unexpected expense, but as soon as you’ve managed to pay these loans back, start putting money aside each month to build your own emergency fund so that the next time an unexpected expense arises, you are prepared to handle it on your own.

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