If you have ever been in financial crisis, you have probably either heard of or have taken advantage of the power of payday loans. Also known as cash advance loans; they are the ultimate redeemers of those who have been in situations where urgent bills have to be paid off without any possibility of delay.

Payday or Cash advance loans started off not more than a decade ago. Previously, they used to exist in different forms but recently, they are becoming incredibly popular due to their exceptional ability to provide loans even to those who have a bad credit history and are unable to request loans from any bank. Even if they can, they may not be able to wait for the lengthy verification process that banks usually carry on compared to the instant verification process of payday loans. The speed and ease of the payday loans is their greatest advantage. Those who have already experienced the benefits of these facilities understand the power of these loans and make use of them confidently whenever they require urgent cash.

To qualify for a payday loan, the borrower has to prove himself as a salaried employee. A fixed source of income, a checking account and an ID proof is enough for obtaining the loan. The greatest advantage you can benefit from is ‘no credit check’ facility these payday loans provide you with. Even with a bad credit history, you are eligible to receive these loans as quickly as anyone else. Upon approval, you just have to give your lender a post dated check and your money is transferred to your account in just a few hours time. Depending upon your salary and your requirement, you can receive up to 1500 as the loan amount.

The important thing you have to be wary about is the fees associated with your cash advance loan. The best way is to look around for various options and compare their fees and services. Also, if you are unable to pay your loan back in the stipulated time period, you may attract additional interest which for payday loans is a little too high to be handled (up to 500%) and sometimes becomes almost impossible to pay back. So your alertness is incredibly important in both learning carefully about the associated fees as well as for any extra interest incurred to you upon non-payment. However, it’s better to avoid any delay in paying back a payday loan.




Payday loans are your ultimate liberator when you are facing a situation which asks for immediate use of finances which sometimes you may simply not have. If you are a salaried person and have to wait for your paycheck for more than half a month and have to face this situation, you may find yourself in a strange condition, feeling short on cash and frustrated. This is where payday loans come in.

Payday loans are not a new concept. They have been here ever since there have been people who started lending money to those in financial crisis. In particular, payday loans are short term loans ranging anywhere from $100 to $1500 (depending upon your salary) and have to be returned within 4-18 days, usually until the day of your next paycheck.

Generally, a person on a good credit may meet these financial emergencies with his credit card. However, you may not have this privilege or possibly are fighting off a bad credit situation. When you apply for a payday loan, you don’t have to worry about your bad credit at all as fortunately, no credit checks are involved in the verification process. Though a few people may tend to call these loans as a rip-off, the reality is that they truly are saviors in situations demanding immediate money without delay, especially when you also have to deal with a bad credit history.

Obviously, if you have to pay at over 500% APR for a single loan, it may easily look like a rip off. However, the payday loans industry has a solid answer. The high costs of running a business like this in depressed areas where only but a few banks or credit unions exist, and that too are not providing loans to those with bad credit history, enable the payday loans industry to charge such high interest loans. It may seem like that the payday loans lenders are a little too greedy, however, their ability to provide loans and help people with emergency needs but a bad credit history or any other problem which prevents them from requesting loans from banks makes them stand apart.


Growing up, your parents have probably told you time and time again to always set aside a part of your salary for savings. This, of course, is easier than done. Try as you might, it’s still very hard to save a part of your income because once you receive it, your only goal is to spend it. And when you are already in a situation where money from your savings could be your only life-saver, it’s already too late. This is where a cash advance loan can be of great help to you.

A cash advance loan is also called a payday loan. It is a short-term loan that is offered by most financial institutions or lending agencies. The following are situations where it can help you:

Unforeseen Circumstances Where Money Is Needed

Has a member of your family had an accident? Are you sick and need to go to the hospital? These kinds of emergencies are stressful and can take a toll on you. You are never prepared for them and your only hope is that you receive proper medical attention. Of course, proper medical attention involves expensive medicines and procedures. Money is needed for those. Unless you have insurance, you would need quick cash to tide you over these medical emergencies. By taking out a payday loan, you will be able to pay for hospital bills, medicines, and other needed expenses. You will not even have to wait for several days to get the money. You’ll be able to have the cash you need in a day or less.

Settling Credit Card Bills

If you have credit cards, a part of your salary is probably already allocated for paying them off every month. However, there are times when your income is never enough to cover your outstanding debts. And if you really want to escape bigger trouble, you would need to pay the bills on time. If you don’t, you will suffer from finance charges and other fees. This is another situation where a cash advance would be helpful.


A payday loan is a two-way financial transaction where each party has rights and responsibilities. As with all other financial dealings, problems can and will arise for either side. Now, if you have a complaint against the lending company, you don’t rant and rave because it will bear no fruit. Instead, you can take the following steps to resolve the issue at hand.

Calls, E-Mails, and Personal Visits

Before you apply for a payday loan, you have to ensure that the lending company has a physical location, an e-mail address and toll-free hotlines with which you can lodge your enquiries, concerns and complaints. Well, now is the time to make full use of these means of communication!

Be sure to take down notes each and every time you call the company. Your notes must include date, time, name of employee who took your call, and the general outline of the conversation. This way, you will have reference notes in case you go on to the next step in the complaint resolution process.

Take note, however, that your payday loan complaint will be resolved easier and earlier when it is either of these three:

* Billing errors in the statement of account (i.e., incorrect fees deducted)
* Collection demands when no money is due and demandable (i.e., loan is fully paid per your records)
* Sales calls and unsolicited e-mails that you want to stop immediately

Of course, personal visits are a last recourse because then you will have to spend money on gas/fare and even incur opportunity costs.