Years ago, everybody had some savings stashed away, and most people just reached into the cookie jar or into a savings account to take care of any gaps between paychecks. Things have changed a lot in the last few decades, especially since credit cards have become so popular. And that explains why cash loans have also become so popular at the same time.
Taking a look around at our national economy, and economies all over the world for that matter, we can see that not only are individuals and families struggling, but cities, counties, states and nations are facing financial hardships as well. While a family might be struggling to fill a gap between paychecks, a city or a county is facing an even greater problem that can only be solved by cutting expenses or raising some form of taxes, neither one being a very popular solution.
Looking at the bigger picture it’s easy to see what I mean when I say that everybody has to face some kind of gap between paychecks these days. Cash advance loans from payday lenders are one way that working families have found to cope with the issue of low to no cash flow. These payday advance loans are growing in popularity in the current, tough economy, and they are useful in certain situations, assuming you know exactly what to expect. Naturally, some people don’t take the time to research and understand their choices, so that’s why I write articles to make sure my readers understand.
Cash loans are a way to fill that gap between paychecks when you know you can repay the entire loan, plus interest and fees on your next payday. These loans are often called “single pay” because unlike credit card advances or bank loans, you don’t repay them in a series of installments. You repay them all at once, and that can take a big bite out of your next paycheck. That’s why it’s super-important to be prepared.
Single and faxless payday loans are easy to apply for and easy to obtain. Payday lenders can be found in cities and towns, wherever you live, and of course they can also be found online now. Whether you call them payday advance loans or single pay loans or cash loans, they are all the same thing. They are not secured by any collateral, such as a car or a boat or any amount of home equity. They are secured by a pre-authorized debit on your next paycheck, and there’s no alternative. If you don’t want to arrange for repayment in that manner, then you are not a candidate for one of these short term loans.