Friday, May 25, 2007

Cash Advance

I have always avoided anything to do with payday loans without ever realising what they were, probably just because they had the word loan associated with them. However, when I found out that they were just a small cash advance in case of an emergency between pay cheques they did not seen so scary.

At the moment, when I am about to face the expense of building work on this house it looks like it could be a useful tool in helping to finance parts of the project on a short term basis, just in case there is not quite enough money in the pool at the end of the month.

Personalcashadvance.com offers such a service. They offer unsecured loans and you can deal online and therefore the money arrives overnight. This means that if you are in danger of the embarrassment and expense of a cheque bouncing you have a solution to quickly cover the expense. You can borrow between $100 and $500 and agree a date as to when the sum (plus the fees) will be repaid, which is usually when you receive your next pay cheque (between sevan and eighteen days). The loan agreemet that is set up for you, will explain the amount of fees that you have to pay in both a cash amount and an annual percentage rate. This is a great short-term solution to cash flow problems.

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