Need a Loan Today

Need a Loan Today

Everyone needs a little help once in a while and you may need a loan today. If you're feeling constricted financially, and that you're in need of extra money, try to consider getting payday loans. Despite what you may believe, getting a payday loan can be a positive thing. Continue reading to discover how. It is extremely important that you repay your payday loan on time to avoid excessive fees. Obtaining extensions can trap a borrower into a cycle of additional fees and growing financial trouble.

How much you can borrow from a payday lender depends on a variety of factors. It depends primarily on your regular paycheck amount. Lenders gather data on how much income you make and then they advise you a maximum loan amount. You should keep this in mind when you are searching for payday loans. If you must resort to taking out a payday loan, spend some time doing some research before you borrow. Even though the stress is high at this point in time, you should still make a conscious decision. If you look for several different companies you can find the best deal on interest. You will save time as you will not have to work additional hours to cover expensive rates and fees.

Double-check the requirements for payday loans set out by the lender before you pin all your hopes on securing one. A lot of lenders require you to currently be employed and to show them your latest check stub. The company needs to feel confident that you will repay the cash in a timely fashion. Prior to committing to a payday loan lender, compare companies. A lot of payday loan companies have lower rates than other ones and some might not charge fees for getting the loan. If you need cash immediately, there are lenders who meet that need; others may make you wait longer for your loan, although they typically charge less. Each lender will be different and you'll need to find the one right for your needs.

Be on full alert for scams artists when it comes to payday loans. Some people may pretend to be as if they are a payday loan agency, but they just want to take your cash and run. The BBB is a great site online to find out more about a potential lender. If you need a loan today from a lender who is located out of town, search for one that allows you to email your documentation instead of faxing your paperwork to save money. It is possible to fax paperwork to companies who allow it, but anyone who doesn't have their own machine may be spending unnecessary money they can't afford to spend. Having to use a fax machine could involve transmission costs of several dollars per page, which you can avoid if you find no-fax lender.

Keep in mind that if you do not have a job then you may not be able to get a payday loan. Self-employment is not looked at as a reliable income source by some payday lenders. You will have to surf the web to discover a company who will give you a self-employed person a payday loan. When you apply for payday loans, be aware that these lenders charge very high interest rates. Try all other options before you take out one of these loans, as typical interest rates range from 300-1000%. If a payday loan is necessary, make sure to do your research and read all the fine print.

Consider how much it will cost if you borrow money using a payday loan. Even though payday loans are sometimes given bad press because of their high cost, there are times that you just need some extra cash. Payday lending involves smaller amounts that range from one to several hundred dollars. The interest can be as high as 30% per week for these loans. Compare this amount to your budget. If it exceeds your budget, then you shouldn't apply for a payday loan.

A payday loan is something you probably do not want to refinance. A common financial whirlpool is created by refinancing payday loans, and each time the debt grows. Payday loans are notorious for very high interest rates, so even a small debt might become a huge debt. If it's not possible for you to pay off a payday loan, then you may want to apply for an inexpensive personal loan from the bank rather than pursuing a payday loan. Do not apply for a payday loan without knowing what rates are charged for it. Many payday loan companies will tell you to fill out forms before you know the rate, but that will just make you liable for it even if you do not agree.

To apply for a payday loan, call a local provider. You can just fill the form out online, but you should call for more information. This gives you a chance to ask questions and also to get a clear explanation of the loan terms. There are quite a few different payday loan companies out there. This is the reason that it's important to research the company before you choose it. Check out the BBB for information on the payday loan company you're considering. On the BBB website, any complaints made against a company are listed and available.

Carefully look at the fees prior to entering into a payday loan agreement. As much as you may want to get the process done quickly, these fees can make it significantly more difficult to repay the loan. You should always think about the size of your loan not in terms of the money you receive, but in terms of the money you'll have to pay back - including all of the fees that you are responsible for.

You now have a more accurate portrayal of a payday loan and what it can do for you, thus ensuring you are in a better position to make a decision on this subject. Many people have a practically irrational fear of payday loans, but by avoiding them, they also avoid a very useful and practical financial opportunity. If you understand what the terms are and are sure that you can comply with them, then a payday loan can help you to keep your credit from being further damaged. Hopefully this has been helpful if you have been looking for information if you need a loan today.

 Warning About Borrowing

This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow: For information about other options for managing bills and debts,ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor

  • Talk to your electricity,gas,phone or water providers to see if you can work out a payment plan
  • If you are on government benefits,ask if you can receive an advance from Centrelink:phone 13 17 94

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you

How much does it cost?

Representative Example: $200 borrowed for 30 days. Amount payable is $248. Interest and fees are $48.

Payday Loans have the following simple cost structure:

20% of principal amount (establishment fee)

+ 4% of principal amount per month.

See our charges page for more information on loan repayments.

What Happens If I Can't Repay On Time?

If you can't repay on time please let the lender know immediately so they can reschedule the repayment. The fee for missing repayments can vary with each lending but could be in the region of $35.

Your lender will endeavor to contact you to try and sort out an affordable arrangement. If your account continues to be unresolved, daily fees will accrue.

Contact Details

EasyPayday.com.au are a referrer of Pingtree PTY Ltd,

Unit 4, 134 Constance Street, Fortitude Valley, Queensland 4006

Loans available to over-18s only, subject to status.

ACL Number (434380)

Registration Number: 159 893 491 I @ 2014

Pingtree PTY Ltd are an Australian based credit licensed finance broker. They attempt to match you with a reliable licensed lender willing to give you a short term loan.