During the holidays, many people go into debt because they want to give everyone great gifts, but they do not think about the fact that they may not be able to pay their bills once January arrives. If you have made this mistake, you may want to consider getting a cash advance to help you cover the cost of the bills. The guide below provides you with a few quick tips you may not know about cash advances.
Cash Advances Have Instant Approval
When you apply for a cash advance, you do not have to wait weeks or months to get approved for the loan like you would if you applied for one at a bank. The lender does not care what your credit history is, or how much money you have in the bank. All that matters to them is that you have a steady form of income to use to repay the loan.
Cash Advances Do Not Have to Be Paid in a Lump Sum
Many people are fearful to get a cash advance because they think that they have to repay the loan in a lump sum within a few weeks or a month. That is not the case at all. Many cash advance businesses will work with you to arrange a payment plan that allows you to pay back the loan in a timely manner. You will be able to make small payments every time you are paid until the loan is paid off.
Cash Advances Require Prompt Payment
When you make a payment schedule, you must make the payments on time. If you are going to be late for any reason, you need to contact the company right away. They may be able to work with you one or two times, but if you make it a constant issue, they may start charging you additional fees for each time you are late making a payment.
When you go to apply for the cash advance, take a picture id, proof of your employment, and your bank account information with you as you will need it when you apply. When you apply, the associate at the business will have you fill out some paperwork to apply for the loan, run your information through their system, and then let you know if you are approved for the loan right away. The process is very easy and can get you the money you need right away. To find out more, speak with someone like Fordham Capital.
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