Submitted by: Max Plata

Fast Cash Loans or pay day loans are small loans advanced by lenders within quite short time of application. Fast cash loans are available to one and all today irrespective of the credit history, FICO Scores etc. In case you require cash for any urgent needs, there are available lots of lenders who will give you money with minimum of paperwork. You get around 30 days to pay this loan back. The loan can cover your urgent needs such as medical bills, car repairs etc.

The loan approval is quite simple. You just need to give elementary information as well as a check covering the loan as well as the fee. Once approved (it takes hardly any time for that also) you are advanced loans from $100 to $1000 .Within 24 hours, your account is credited with the money. Since, it takes hardly any time, its termed Fast Cash.

In fact, if you perform search on internet you will find hoards of companies who offer such loans. These online lenders do not check your credit history etc. At best, they verify your bank details and then advance the loan. If you are employed with same employer for more then six months, the process becomes yet simpler.

Taking a fast cash, Pay Day loan does not affect your credit history. The fee ranges from $30 to $100.You can repay this loan within 30 days or next time you get your paycheck. This is a very easy source of fast cash.

In case once you get your paycheck and you can not pay the fast cash loan, most lenders will allow you to extend the term also. This however means that you will need to pay steep interests on the loan.

The rates of interests vary for loan amounts as well as lenders. When you need fast cash loan, always make a check of all the lenders possible .An online search will tell you various rates they are offering. Find the one with cheapest rate. The competition amongst lenders is huge so you will be able to find the best rates easily. These rates are important as in case you default or rollover, the APR charged might be as high as 4000% in some cases.

The ease of availability sometimes lures borrowers into a habit of taking these fast cash loans every other time. This needs to be avoided. Budgeting is extremely important if you often find yourself high and dry. Try to make use of fast cash loans only when its a dire emergency. The habit of living one fast cash loan to other is not good.

Fast Cash loans are legalized but some companies have been less then honest in their dealing with borrowers. They charge exorbitant rates and fee of processing the loans from the borrowers. You must know that Truth in Lending Act requires the lender to disclose all the fee and rates on interests charged. But its up to you to find out what are the rates etc. Always read the fine print. In fact its advisable that you must spend 24 hours in taking the loan understanding all the terms and conditions. Although the lenders say that the loan will take hardly an hour, its best that you take an informed decision.

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