Considering a Different View on the Payday Lending Industry in Utah

Dec 1, 2015 by

Considering a Different View on the Payday Lending Industry in Utah

Recently, the Utah Department of Financial Institutions – an agency that regulates Utah state financial services of payday lenders, banks and other financial service providers – published an annual report to the public. Those who keep track of these sorts of things are very happy to announce that the laws revealed in the report allow a measure of protection for consumers and provide borrowers with choices when it comes to credit. However, there seems to be some bad data with a topic that means a lot to many people.

The report from the DFI stated that there were more than 45,000 short term (payday) loans that were not fully paid off after 10 weeks. In reality, these 45,000 loans are just a drop in the bucket when compared to the hundreds of thousands of payday advance loans that are given in Utah every year. The majority of Utah citizens are able to fully repay their loans within 10 weeks. Those who cannot – who only represent about 7 percent of total borrowers – were able to make use of state sanctioned safeguards that allow them to enter into a two month repayment plan that prevents interest from accruing.

The 10 week safety cap is considered an important piece of state legislature, and was passed not because of government watchdog groups or angry letters to editors of local papers, but was passed because of urgings from actual payday lending companies. The payday lenders are the only financial companies that have regulated interest cap limits. These safeguards help to prevent consumers from getting trapped in cycles of seemingly never ending debt.

You could wrack your brain all day long and not be able to come up with any other financial institution that allows their loans to stop accruing interest, and extends payback periods, without imposing additional costs on consumers. The majority of payday lenders in Utah are more than happy to offer this option to their customers, and consider it a unique perk that other financial service providers are unable – or even unwilling – to provide to their customer base.

It is sad, then, to learn that the allegations of “debt cycles” is not quite as accurate as one might think. New legislation is trying to force payday lenders to verify whether or not a person is able to repay their loans prior to approving said loans. You would think, if you listened to the opponents of payday lending, that the lenders are actually looking for the types of borrowers who are unable to pay them back. This would be silly, of course, because lenders are giving loans from their own funds, and surely want to get paid back in order to stay in business.

No matter how many articles get written that paint payday lending companies in a bad light, and no matter how much certain liberal parties would like to attack payday lenders, the fact remains that this industry is in favor – at least in the state of Utah – of policing itself and doing all that it can in order to assist the minority of consumers who are unable to pay back their payday loans within ten weeks. Of course, you won’t read about this sort of thing on most liberal, mainstream websites. But the truth is the truth, and the truth is that payday lenders are taking more risk than other lenders, while still showing more compassion to their customers than any other financial service providers in existence today.

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Fast Cash Loans Will Make Life Easier

Aug 16, 2013 by

Fast Cash Loans Will Make Life Easier

If you are behind on your car payment and your bank is threatening a repossession, you may want to check into fast cash loans. Basically, this is a short term loan that will get you the money that you need so that you can get out of financial trouble and hopefully get back on your feet again.

How Do I Apply?

Applying is easier than ever. You can apply online and expect a response within minutes of applying. If you are approved, the money will be deposited into your bank account before you know it. Borrowing money is so much easier than it was back when you had to go to your bank and beg for a loan.

Do I Need Collateral?Cash_Advance

The good thing about fast cash loans is that you will never have to worry about providing collateral. These are unsecured loans that most anyone can qualify for no matter what your credit looks like. It doesn’t matter if you have a bankruptcy, a repossession, bad check fees, or anything else. In fact, your lender isn’t going to look at your credit rating. This is what is known as bad credit loans.

How Do I Get My Money?

Once you have been approved for personal loans, the money will be directly deposited into your bank account. This is perfect if you are going to be using the money to pay some past due bills. Because the money will be directly deposited, it will be available as soon as it shows up through your bank’s website.

How I Pay Back My Loan?

Now, you are probably wondering how you will pay back your loan. Your lender will look at when your next payday is. On your next payday, your lender will automatically withdraw the amount of money that you have borrowed along with your interest charges. Maybe you need a couple of paydays to pay back your fast cash loans. If this is the case, make sure that your lender is aware before they try to withdraw the money. Generally, this isn’t a problem. Keep in mind that you may have extra fees.

Can I Apply Again?

You are probably wondering whether or not you will be able to qualify for fast cash loans again. The good thing about payday loans is that once they are paid off, you are free and clear from them. If you decide that you need another loan, go ahead and apply online. If you work with the same lender as before, they may already have your information in their system. This will help the process to go a little faster. Before you know it, the money that you need will be deposited into your bank account and you will be able to take care of things a little better.

Refer a Friend for a Payday Loan

If you find that you have had a good experience with your payday lender, make sure that you refer a friend. Some lenders will give you a discount on your next loan if you refer a friend. Everyone deserves to see what a pleasant experience it is to be able to borrow money in an emergency.

There is no reason why you should have to worry about having your utilities turned off, in your car and no food in your refrigerator. Any time that you are struggling, apply online and get the money that you need. It won’t take long before you will realize that this is such a blessing. You deserve to have a little extra money when you are struggling financially. Apply online today and have the money that you need tomorrow.

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Fast Cash Loans: The Truth about Online Payday Loans

Jul 10, 2013 by

Fast Cash Loans: The Truth about Online Payday Loans

Try as you might, you’ll not often find people looking to get cash slowly. Nope, when we all need money we want to get it as fast as possible. Perhaps that is why online payday loans – also known as online fast cash loans – are all the rage these days. People often run out of money before they get paid at work and need a reliable way to access quick cash to take care of expenses. If you routinely find yourself running out of money before you run out of month, it may just be high time that you found out more about payday loans.

Are You in a Financial Tight Spot?

Fast cash loans are really meant to help working people get out of the tightest financial spots. You know how it goes: You get a pay check, pay the bills and maybe even spend a bit on yourself. Before you know it, though, you have no money in your account, but still have to make purchases or to pay bills. If an emergency expense pops up, you may feel like there’s just no way you’ll be able to pay for it.

Fast cash loans are the preferred type of loan to escape those types of financial fixes. Find out more about these popular online loans by reading on to get all the facts about payday cash advance loans for yourself…index.26

Fast Cash Loans – What are Unsecured Loans?

If you pursue an online payday cash advance you may hear some talk about unsecured loans. But if you’re not fluent in financial-speak, you may not be sure what an unsecured loan really is. These types of loans don’t require you to put up security in the form of collateral to your lender. In other words, your vehicles, property, jewelry and electronics are never on the line when you take out an online payday advance cash loan.

What about Bad Credit Loans?

You may even hear about bad credit loans and wonder what they have in common with fast cash loans. Truth be told, these loans are one and the same. When people talk about bad credit loans they are really just saying that people who have bad credit can apply for quick cash payday advance loans. Your lender will never turn you down for a loan simply because of your credit score. For people who have been turned down for loans at the bank, payday loans present a viable alternative method of receiving fast cash.

Can I Get Fast Cash Loans after/during a Divorce?

We don’t have to go into the specifics of how many marriages end in divorce in this article. However it is worth mentioning that some people do have difficult times in getting approved for loans during/after a divorce. That is just never the case when you request a payday advance loan. Your lender doesn’t ask what your marital status is and doesn’t deny loan requests because of divorce or separation.

Can I Get a Payday Loan with past Bankruptcies?

The same thing goes for people who have had to file for bankruptcy. It’s difficult enough to know that a bankruptcy adversely effects your credit score and overall finances. Payday lenders do now, however, ask you to provide any information about past bankruptcies. The end result is that you will be able to get approved for a fast cash payday loan even if you recently filed for bankruptcy; as long as you are currently employed.

Can Unemployed People Receive Payday Loans?

Speaking of being employed, we should mention that people who don’t bring in a regular income should avoid trying to get a payday loan. These loans are not your standard personal loan; they are meant only for people who bring in regularly scheduled income into their bank accounts. You may be able to get a home equity loan or some other form of financial aid if you are currently unemployed.

How Much will Fast Cash Loans Interest Rates Fees Cost me?ID-100146107

You won’t pay a dime in annual percentage rate fees when you get a payday advance cash loan. This is because you pay these loans off in about two weeks. As such, the yearly compounding interest rates simply do not apply to such short term loans. You may pay high interest rates fees on traditional bank accounts, but never have to with a payday loan.

I Can’t Find a Good Online Payday Lender – What Should I Do?

Your search for a top payday lender is now over. This website is professionally affiliated with a huge network of the best lenders around. You can apply on this site for your loan, and we’ll pair your request up with top lenders that want to do business with you.

How Much Money Will I Be Allowed to Borrow?

Payday loans are generally given for amounts that range from $100 to $1500. Consider how much you can pay back on your next payday by taking a look at your household budget. Then you can borrow appropriately and responsibly.

How Long Does it Take to Fully Pay Off Online Fast Cash Loans?

Remember, payday cash advance loans are short term loans. You will schedule a payment date with your lender to coincide with your next payday.

How Does My Money Get to Me?

Fast cash loans are delivered to your bank account by seamless direct deposit technology. One day the bank account is empty. Then you get your loan and have plenty of cash in the account waiting for you to spend as you see fit.

How Do I Send Payments to my Fast Cash Loans Lender?

You will also pay back your online lender online. Your payment will be automatically deducted on the date that you set with your lender for payment. Once that date arrives, the funds are transferred directly to your online lender.

Will Taking out a Payday Loan Hurt my Credit Score?

Your credit score is not affected when you take out online payday cash advance loans. If you’re trying to repair your credit score, you have no need to worry about taking out an online cash loan today.

Is it a Good Idea to File for Loan Extensions?

It really is never a good idea to file for loan extensions. Extra fees will be payable if you decide to do so. We want all of our website visitors to get their loans without being forced to pay extra costs. Don’t extend the terms of your loan if you can avoid doing so. However, if an emergency happens and you decide that you need a loan extension, please contact your online lender as soon as possible to discuss extending the terms of your payday loan.

How Often Can Someone Take Out a Payday Loan?

You don’t want to have more than one payday advance loan open at a time. Pay off your original loan before you decide to go online to apply for another one. Most lenders will not approve your loan request if you currently have a payday loan that is not fully paid off yet. Be patient and wait until you have your current loan paid off. Then, if you still need emergency cash, you can feel free to apply to receive another loan.

Our Conclusion on Fast Cash Loans

Over the course of this overview article we have touched base on all the important information you should know to successfully borrow money online. You are now aware of how to find the best online lenders and are aware of important facts about paying your loan off and avoiding excessive loan fees.

Now, if you are in one of those financial tough spots that we talked about earlier, it may be prudent to get started on your loan right now. You can use the loan application form on this site to do just that. Fill it out, submit it and we’ll help you get in touch with a reputable lender to assist you as soon as possible. After you get your loan money, we’re sure you’ll agree that there is no easier, quicker way to get money online.

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Fast Cash Loans: The Benefits of Payday Loans

May 30, 2013 by

Fast Cash Loans: The Benefits of Payday Loans

When people are in need of fast cash loans, it’s often a no-brainer to go online and take out a payday advance loan. However, some people don’t know about the benefits of these loans. If you aren’t sure if a payday loan is the right option for you, here are some of the major benefits and information you need to know when the time comes to find your fast cash loans solution.

Unsecured Loans

If you don’t like the idea of putting your automobile, home or other property on the line as collateral, simply to get a small, cash loan, you will be very pleased to learn that fast cash loans are unsecured loans. People often hesitate to take out secured loans, as they don’t like the idea of using their belongings as collateral. You will never be required to put up any property as security on your payday advance loan.

Bad Credit Loansbadcredit

Another major benefit that people get from payday advance fast cash loans is the fact that they never have to deal with a credit check. Payday lending companies do not use your credit score during the loan approval process. In other words – even a very low credit score will not disqualify you from getting a loan. We all know how much of a drag it is to have bad credit. It’s good to find out that your credit history does not come into the equation when you request an online payday advance loan.

Who Should get Online Personal Loans?

As good as we think these fast cash loans are, not everyone should apply for one of these loans. For example, if you have to pay for something that costs several thousand dollars, these relatively small cash loans are not going to be of much help. And if you are not currently employed, you should probably pass on getting a payday loan. These loans are in place to provide small amounts of money to people who are gainfully employed. Another group of folks who may not want to apply for payday loans are those people who do not have bank accounts. Having an active checking or savings account is required in order to get an online loan.

Just how long will it take to get my Fast Cash Loans?

Since you are interested in getting your cash quickly, you may be curious about how long it will take you to get the money that you apply for. The majority of cash advance loans are paid out within one business day after a loan application is officially approved. If you are in need to get money into your bank account as fast as possible, you have to agree that these fast cash loans are the obvious choice. Don’t settle for being stuck with no money for the next few weeks. You can take the first step by requesting your fast cash loan today.

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Payday Loans – An Example of how to get Personal Loans Online

Apr 23, 2013 by

Payday Loans – An Example of how to get Personal Loans Online

When you’re making decisions about borrowing money, things can often be confusing and overwhelming. This is especially true for people who need to take out their first payday loans. The first time you do anything in life; it’s easy to get intimidated and/or confused. To help you along with your loan, it is helpful to have a roadmap that will tell you what to expect.index_10

In an effort to provide you with a map of what you can expect when taking out online payday loans, we’ve put together an example scenario for you. Follow along as we take a fictional customer through the entire online money borrowing process.

An Unsecured Loan is needed

To get things started, our fictional character decides that he needs to borrow some money to pay for an unforeseen expense. This person gets paid at work in two weeks, but is flat broke right now. The first thing that he needs to do is to decide how much money he needs to borrow. Since payday advance lenders offer loans between $100 and $1500, our guy decides to borrow $500.

He then uses the loan application form that he found on this website. This allows him to submit a request and know that it will be paired up with a top lender for quick approval. But as he’s getting ready to fill out the application our borrower realizes that he has bad credit and wonders if it will be a problem.

Bad Credit Loans for People with Credit Problems

It turns out that our online customer can relax. You see, the network of lenders that you’ll work with via this website do not deny loans to people with bad credit. When our borrower fills out the secure payday loans application, he notices that there is no space to fill in information about his credit history. This is because his credit doesn’t come into the equation for loan approval.

The Application Process for Fast Cash

To fill out the loan request form, our fictional borrower fills in the following information:

• The amount of money he needs to borrow
• His basic contact information
• Information about his checking or savings account
• Employment information and his upcoming pay schedule

With this information filled in, he is ready to submit his request for approval.

Money in the Bank with Fast Cash Loans

The next thing that happens is that our friend gets loan approval notification in his email inbox. He then agrees to the terms of the loan and is on his way to getting fast money. His unsecured loan will be delivered in full to his bank account via direct deposit. When the loan repayment date rolls around, his loan payment is made electronically and he is free and clear.

As you can see, the entire process is fast, easy and free of the hassles you run into with conventional bank loans.

Putting the Payday Loans Process to Work for you

Now that you’ve seen a basic overview of how the online unsecured loan process works, you can get started on your own payday advance loan. You are already on this site, so why not take a few minutes to fill out and submit the loan application form we have put in place for you. Getting your online payday loans couldn’t be any easier…

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