One Hour Bad Credit Payday Loan – How Can You Get Quick Cash Today?
Posted on | January 27, 2010 | No Comments
If you ask the question “how can I get quick cash today?” then you might want to consider doing research on a on a hour bad credit payday loan. A payday loan can help you get money in less than one hour if you qualify. The requirements for qualifying usually only include employment verification and a bank or checking account. If you have these two requirements you should be able to borrow up to $1500.
Before you jump into a payday loan thinking it will be very cheap you need to understand that you are going to pay fees for these loans. The fees are usually regulated at the state level and are between $15 and $35 for every $100 you borrow. It would be a wise decision to do some research and see what the fees are in your particular state. Remember that these are max fees and you can often find a better deal.
It is also important to note that these fees will reset every time you get a paycheck and do not pay the loan off in full. You will usually write a post dated check for the amount of money you want to borrow plus fees. If you cannot fill the obligation of this check with your next paycheck you will have to return to the payday lender and write another check with even more fees.
This is the exact reason that many financial analysts feel that payday loans are not the best option. Unless you are 100% certain that you can pay these loans off with your next paycheck you should not even consider a one hour bad credit payday loan. You should do some research on other loan types such as bank loans or unsecured bad credit personal loans.
Author: Tiffany Mann
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