Wednesday, July 23, 2014

No Fax Payday Loans Rocks!

A cash advance payday loan might not be the right kind of a loan for you. No Fax Payday Loans 1500 offers links to a variety of loans and lending alternatives. Let's talk about them in order.

You need cash for whatever reason. The reason doesn't matter the fact is you need cash. Now say you just need funds because you have a hot date and no money until you next payday. Or you have less money in the bank or credit union than checks coming in. NSF's. Ouch! One bank is charging $42.00 for an nsf (national average $28.50)! Or expenses have just broken your back lately. These are all temporary (hopefully) cash flow problems. If you have a verifiable income then a cash advance payday loan is probably your best bet. Sometimes you just have to juggle money.

 Now say you own your own home but have massive high interest credit card debt, car loans, student loans, whatever, debt that's not going away. Maybe in this scenario, a debt consolidation loan (at a much lower rate than your other loans) is your answer. A payday advance loan is not going to work in the long term here. No Fax Payday loans are for short term juggling only. Now debt consolidation is usually another way of saying refinance; taking high interest loans and bundling them into a lower interest mortgage. Sometimes called a 2nd mortgage.

When the interest rate is low, sometimes its advantageous to refinance your home at a lower rate - refinance.

So you've hit the bottom. Cash advance payday loans all over the place, credit cards maxed and in collection, car repossessed or soon to be, late on you rent every month. Juggling not working; too many heavy balls in the air at one time. Maybe debt settlement is your answer. With the new laws, it's hard to bankrupt out of credit card debt, student loans impossible, and bankruptcy follows you for years. Here how debt settlement works: You contact the debt settlement company and lay out your deal. You have so many credit cards totaling x number of dollars, department stores for this much, gas cards, medical bills, etc. You stop paying all these bills and the company for a fee from you negotiates a deal with the companies for so much on the dollar. Say you have gas card with $2,000.00 on it. They call up the gas card company and say, "look my client can't pay his/her bills. If you'll take $400 for this account we'll put you in our monthly pay out for so many dollars." Most creditors go for this. Payday lenders look at it like free collections. And just because you don't go bankrupt doesn't mean you going to pay. You can just stop paying. In Texas there are no paycheck garnishments just liens. If you don't own a house, what are they going to lien on? Just don't burn all your bridges.

Now let's say been through the juggling and did debt settlement and paid off successfully. Now you need credit repair. The credit repair company hounds the credit bureaus with a ton of paperwork until they have make it unprofitable for the creditor to spend any more time replying to the credit bureaus and they (the bureau) have to by law remove the black mark from you credit. If you've been bankrupt, you have a hard road to high credit scores immediately.

After debt settlement, you might not have to rely on secured credit cards as you are "rehabilitated" but starting with a secured credit card is a good way to any unsecured credit care.

Say you have a low credit score and need a car. Look out here. Usually "buy here pay here" "we finance anybody" car lots sell junk cars at inflated prices. A better alternative is an Internet auto lender. No commissions to pay car salesmen and you can shop for a good car not a bone. Payday loans are used for down payments frequently. You have to get on the road to work and have a life so you have to do whatever you have to do.

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