Short-Term Loans: A Cash Advance, Payday, and A Tax Refund Loan?

Getting a cash advance is pretty easy when you use a direct lender. During the holiday season, there is another opportunity for quick access to cash. Many tax preparation companies offer loans against your tax return. It sounds like a good way to get fast cash, right?

Once I heard about these tax loans, I wanted to learn more about them. Since I write about cash advances and payday loans quite often, I was intrigues by this other option for fast cash. During this holiday season, there are more advertisements for tax refund loans. It is interesting that the few company websites that I checked included the word fee in their service description but there were no numbers included to let me know how much. Here is what I did learn about these tax refund short-term loans.

*The latest paycheck stub will be used to estimate your return.

*If there is a lien against you, back child support or taxes owed, you will not qualify.

*Legal IDs

*The phone number connects you to a call center.

*These representatives can answer basic questions, tell you what documents you will need to apply, and connect you to a local office.

*Pre-approval from the call center is not a guarantee of loan approval.

I found it very interesting that there were no fee prices or APR’s attached to the information on the website as direct cash advance lenders must disclose. It’s a short-term loan with high interest and fees that does not conform to a cash advance or payday loan regulations. Interesting.

After two phone calls to the same call center, and raining my tone a tad, I finally got an answer from one of the major tax preparations sites. Their service is limited to a loan of $1000 which is loaded on a prepaid card. The customer representative did not understand what I meant when I asked what the fees for this loan would be. I mentioned that every other company that lent money would not do it for free; she then told me that there was an annual service charge of $45 and an APR of 36%. I didn’t go to the office to find out if there are any more fees attached to this loan. The 36% APR was enough to tell me that realistically, these short-term loans are not much different than regulated ones by a different name.

The IRS does not promote these refund loans. Electronic tax returns will be accepted in January. If you can hold on another month, you can get your money directly from them at no additional costs. No need to worry about repaying the loan with a high interest rate to eat away at the rest of your refund.

Whether you are looking for fast cash in the form of a cash advance online from a direct lender or looking to use a refund loan service from a tax preparation company, you will want to be aware of all qualifications and costs associated with the loan. You may feel the pinch to obtain money quickly, but if you can wait to get your taxes back in another month, you may find yourself in a better financial situation than if you had taken out the refund loan.

Debt Consolidation Loans For Cash Advance Relief

Cash advance loans can be a useful financial tool in a short term emergency despite expensive financing costs and fees, but if overused consumers can find themselves in a vicious cycle where their multiple cash advance loans are deducting from their checking account each paycheck leaving nothing left for survival. If you find yourself in the cash advance trap, surprisingly, simple debt consolidation loans are often the best means of providing debt relief.

Debt consolidation loans are the ideal method of reducing and tackling your cash advance debt for a couple of reasons. Cash advance loans are designed to be short term emergency loans. They generally have a short payoff period, high interest rates, and expensive up front load costs to cover a quick payoff as interest should not have a long period to accumulate if you pay off your loan quickly. The difficulty lies in a consumer acquiring multiple cash advance loans and loses the ability to meet their terms, with fees and penalties for late payment, one can quickly find themselves paying their entire income to financing charges rather than principle.

Payday advance loans can be especially insidious because they usually given access to your checking account at the time of application. When all works well, this is to fund your monies loaned directly into your checking account fast, and so that they may deduct their payoff terms directly upon your receiving your next paycheck. There is nothing wrong with this when it is managed and under control. But overextending with multiple loans and late payments can make it so multiple lenders have access to your next paycheck before you do!

Debt consolidation loans are an ideal instrument to provide debt relief in just such a case. But how can more loans, you say, provide debt relief when it was too many loans that got you in this situation to begin with? The answer is in the structure and intent of the debt consolidation loan vs. the cash advance loan. Whereas the cash advance loan is a short term, short payoff period loan intended for an emergency, a debt consolidation loan, on the other hand, is a longer term loan that comes with the advantages of greatly reduced interest rates, longer payment periods, and greatly reduced payments in many cases. These loans can remove the burden of interest from your back, allowing you to get back on track and working towards paying off what you owe, rather that what the insidious fees and penalties.

Debt consolidation loans come in many shapes and sizes, but in general terms will consist of a much more agreeable note with which you can pay off your higher interest rate cash advance loans or credit cards that are weighing you down. You will now have one loan having consolidated and with the additional money you save you can begin to pay down what you owe.

The cash advance loan trap is common, it is just important not to fall into it again once you have used debt consolidation loans to achieve relief. With discipline and focus you will be back on track and debt free in no time.

Cash Advance Lenders Provide Convenient Loans: Is It The Right Help?

A call placed to low fee cash advance lenders will help to gain emergency cash, but it won’t provide advice on how to make good on your payments. Loan processors are not counselors, but they will take a good look at your qualifying information to see if your situation is fit for a short-term loan. There is no exact science to understanding a person’ financial situation in 15-20 minutes, but a bank statement can give a pretty good current overview.

Short-term direct lenders will not dive in to a credit report. This process takes time and the sole purpose for those who apply to online cash advance lenders is to obtain fast money. The loans may cost a bit more, but when in a jam, the higher cost for convenience may save loads in the long run.

The more you know about your financial picture, the better prepared you will be to make matters right. If you don’t understand the direction to take next and you have no family or friends with a financial niche of interest, you can always seek out a credit counselor.

Some folks get nervous about talking to outside companies about their finances. If you find a well-established company, with a a positive history of helping consumers get their finances back on track, then you should feel safe about disclosing your money troubles. It doesn’t hurt to ask questions. There will be no credit card damage for collecting information.

There is always the concern for the cost. How much would a good credit counselor charge to help? When it comes to many types of services, the cost will vary depending on a person’s situation. You will be able to find non-profit services but be careful that they are not run by a credit company; you may not get the most unbiased advice. Like any other service, shop around before you decide to use one that charges. Debt settlement and bankruptcy are much more costly as well as carry more harsh effects on long-term credit scores.

You may find a solution to your problem by going to credit counselors. If anything, it would be great to have your budget revamped with clear tips on how to keep it running smoothly. Following the services could keep you from needing best cash advance online lenders. Just because you found a great short-term loan lender, it doesn’t mean that the loan is the best option for your struggling finances.

The better you take care of your income, the more income you will have to take care of you. Waste it on unnecessary purchases and you may not have enough money to cover unexpected necessary costs. Go ahead and get help to change your budget’s direction. If you are struggling to make payments, it will be good to get an unbiased view point on your situation. There may be something you are overlooking or refuse to acknowledge hidden in your expenses. Cut away at the expenses which are not mandatory for your family to live on and work at paying off your debt. It makes more sense to enjoy your money than handing it over to creditors or fast cash advance lenders online.

Cash Advance Loan – Where to Find a Reasonable Online Payday Check Advance Lender

A cash advance loan has recently grown in popularity for the hundreds of thousands of United States citizens who have fixed credit and require a quick loan. It is imperative that interested consumers know how to identify a reasonable online payday check advance lender as there are some lenders that exist who will attempt to rip naive consumers and charge unfair rates of interest. If you are going through short term cash flow problems and need a cash advance loan then hopefully this informative article will direct you in the best direction in identifying a reasonable online payday check advance lender.

Most cash advance loan lenders will demand| the following:

o You must have a job or bring in money from a government program like welfare or social security
o If working, you must bring in at least $800 per month
o You need to be 18 |years of age] in addition to being a citizen of the United States
o You also need to posses a bank account that allows direct deposit

If you need a cash advance loan to help you manage your current cash flow situation then understanding how to identify a reasonable online payday check advance lender is a critical factor in getting the lowest rate of interest as there are several payday lenders who will attempt to exploit desperate consumers. I strongly encourage consumers to not go directly to an online payday check advance lender but instead go to an online website who is associated with several online payday check advance lenders. Such websites don’t process the cash advance loan themselves but instead they force the payday lenders compete for your business which has consistently proven to provide the best possible rate of interest for the consumer. These sites are often free of charge to use and only require you to complete a single online application.

Now that you know where to identify a reasonable online payday check advance lender through a multiple lender site then it is crucial to determine if you should even take out a cash advance loan. A common rule of thumb is to determine if your late payment fees on your bills will be more expensive than the finance charge on your cash advance loan. Credit card fees, car payment late charges, rent/mortgage fees, bounced checks, and other bills charge late fines ranging from $30 – $70. These penalty fees add up very fast and it is usually a financially prudent choice to get a cash advance loan instead of racking up several penalty fees.

To locate a legitimate online payday check advance lender I recommend that you use the multiple lender website that I linked below. This site doesn’t require an application fee like many other similar sites and have consistently provided the lowest interest rates when I needed a cash advance loan. After you have completed the online form, a lender who offered the best rate will contact you to go over their procedures. Once conditions are accepted by both the lender and borrower, your cash advance loan will be deposited directly into your banking account in less than 24 hours.