BIND 10 #1547: Payday Advance

[BIND 10 Development]

#1547: Payday Advance
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                   Reporter:         |                  Type:  defect
  payday-advance0240                 |              Priority:  major
                     Status:  new    |             Component:  Unclassified
                  Milestone:  New    |             Sensitive:  0
  Tasks                              |           Sub-Project:  DNS
                   Keywords:         |  Estimated Difficulty:  0
            Defect Severity:  N/A    |           Total Hours:  0
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 [http://onlineloan24.com/ Payday advance] companies have grown in numbers
 across the country as more and more people begin turning to them for their
 short-term cash flow problems. However, there are many questions regarding
 payday advances and their advantages and benefits. We have therefore
 answered the top five payday advance loan questions:

 Q: Is it true that my credit score really doesn't matter when it comes to
 applying for a payday advance?

 A: Because payday loans are secured using your next paycheck as
 collateral, your credit score is not taken into consideration when
 applying for a payday loan. In fact, the payday lender will not even
 perform a credit check. Payday loans are therefore incredibly beneficial
 to individuals with either no credit or poor credit.

 Q: What are the requirements for applying for a payday advance?

 A: Although the requirements for payday loans vary from one payday lender
 to the next, there are a set of general requirements, including: you must
 be at least 18 years of age to apply for a payday advance; you must have a
 steady source of income and earn a minimum amount of money (this amount
 will vary from one company to the next); and you must have an active
 checking or savings account.

 Q: How long does the process of applying for a payday advance take?

 A: Because of the convenience of the Internet, many payday loans can be
 applied for online through easy-to-complete loan applications. It is
 because of the ease and convenience of the Internet that individuals can
 secure their payday advance loan in as little as a few hours. In addition,
 the money can be transferred easily to an individuals' bank account to
 further facilitate the process.

 Q: How long do I have to pay back the payday advance?

 A: Although payday lenders vary according to their policies for paying
 back the payday advance, generally speaking, payday loans are very short
 term, and they are usually paid back within a couple weeks. In addition,
 many payday lenders also allow customers to roll over their payday loans
 if they cannot afford to repay them in the agreed upon time frame.

 Q: Why are there so many lawmakers who oppose payday loans?

 A: Payday advances have come under fire over the last few years because
 many lawmakers have a problem with the high interest rates and fees
 charged by payday lenders. However, what many of them fail to realize is
 that for many people, payday loans are their only choice when they find
 themselves in a difficult financial situation. In addition, many
 legislators also fail to recognize that the fees charged by many banks and
 credit card companies often far exceed the charges imposed by payday
 lenders. Just like another industry, the payday loan industry is
 competitive, and it is possible to find reasonable interest rates and
 fees. It is up to you to find competitive rates and to educate yourself on
 the pros and cons of payday advances before applying for them.

 Learn more about how a payday advance can help you through any financial
 difficulty. Take advantage of a PayDayOne payday advance to quickly obtain
 the funds you need before your next pay check arrives.

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