In a world experiencing social and economical turmoil, it is difficult for cash
strapped consumers to obtain personal loans. To counteract this situation,
a cash advance is available by using a Payday Loan. It is an online service,
which enables same day payment directly into a personal bank account.
Many consumers are in financial situations that need cash now. A payday
loan could help them pay current bills and daily expenses, bringing some
stress relief. The qualifying online application process is simple and it is not
a requirement to have a perfect credit score.
Full information is provided for online visitors, explaining the principles of
a payday loan and making them aware of their choices. The option for a cash
advance is available 24 hours a day, 7 days a week, for consumers needing
urgent solutions to financial problems.
There is another side to this apparent relief of cash now benefits. Latest
reports show that most commercial banks also offer a payday loan facility
to consumers with a cash advance reported to be 365% for a 10 days loan
Although reports show that many consumers believe that a payday loan is
not a wise decision, they also assume that the same offer from a bank must
be a safe refuge. However, the cash now facility from a bank has the same
problems related to it as the original payday loan, they are still cash now
debt traps. Another consumer perception regarding and obtaining a cash
advance is that applying to a bank is more dignified.
The banks do not want to give their system the title of “payday loans”, for
one reason or another. Consumers are taking full advantage of cash now
from payday loan facilities, but are they in fact, digging a bigger financial
hole for themselves!