{"id":1532,"date":"2009-12-18T17:51:42","date_gmt":"2009-12-18T12:21:42","guid":{"rendered":"http:\/\/www.niftylivecharts.com\/blog\/?p=1532"},"modified":"2009-12-18T17:51:42","modified_gmt":"2009-12-18T12:21:42","slug":"short-term-or-payday-loans","status":"publish","type":"post","link":"https:\/\/www.niftylivecharts.com\/blog\/short-term-or-payday-loans\/","title":{"rendered":"What is Short-Term or PayDay Loans"},"content":{"rendered":"
Short-Term or PayDay Loans<\/div>\n
Short-term loans, payday loans, and cash advances, these are often frowned upon by some people. Yet there is a large market for these loans. Most advice concerning these loans is not to obtain them, however the fact remains that thousands of people obtain these loans every month. If they weren\u2019t profitable, places like ACE, Cash America, and other businesses wouldn\u2019t provide these loans.<\/div>\n
If they are such a disliked product then someone should step forward and help people who get these loans. The help cannot be purely to tell these individuals that they should seek credit counseling, but it has to consist of monetary help, as well. Most people who get these loans already know they need financial canceling, but they also know that their immediate situation needs to be addressed. Normally, this requires CASH.<\/div>\n
With all that said, if an individual has determined that a short-term loan is the best avenue available, then like anything else one should make the best informed decision for his or her given predicament.<\/div>\n
When considering a short-term loan, ask yourself these 7 questions:<\/div>\n
1.What amount of money do I need?<\/div>\n
2.When can I pay this money back (principal and fee)?<\/div>\n
3.What are the repayment terms?<\/div>\n
4.Can I meet these repayment terms? (use a calendar, and your budget)<\/div>\n
5.Am I pursuing counseling or planning to pursue counseling, so that I don\u2019t have to continue to utilize these short-term loans?<\/div>\n
6.If I can\u2019t pay the principal and fee, then can I pay the extension fee? (use a calendar and your budget)<\/div>\n
7.Is this loan new or is this my 1st, 2nd, or 5th time borrowing from a short-term loan source?<\/div>\n

Short-term loans, payday loans, and cash advances, these are often frowned upon by some people. Yet there is a large market for these loans. Most advice concerning these loans is not to obtain them, however the fact remains that thousands of people obtain these loans every month. If they weren\u2019t profitable, places like ACE, Cash America, and other businesses wouldn\u2019t provide these loans.<\/p>\n

Payday loans are offered by many kiosks around cities or via the internet. These are unsecured, high interest loans that are usually due with the deposit of the borrower\u2019s next paycheck.<\/span><\/span><\/p>\n

Many banks may also require collateral, depending again, on the amount borrowed. The smaller the loan, the less apt the lender or bank is to ask for collateral. The application process is a bit longer in that the bank will check the borrower\u2019s credit to be sure the borrower has the ability to pay the loan back. In the case of a small business borrowing money, the lender will review cash flow history and in the case of an individual borrowing money, the lender may require paystubs. They may also look at a borrower\u2019s personal credit score \u2013 or in the case of a business, business credit score \u2013 to determine whether to grant a short term loan. Banks will also offer short term loans for a lower annual percentage rate than a payday loan service.<\/span><\/span><\/p>\n

If they are such a disliked product then someone should step forward and help people who get these loans. The help cannot be purely to tell these individuals that they should seek credit counseling, but it has to consist of monetary help, as well. Most people who get these loans already know they need financial canceling, but they also know that their immediate situation needs to be addressed. Normally, this requires CASH.<\/p>\n

When considering a short-term loan, ask yourself these 7 questions:<\/p>\n

1.What amount of money do I need?<\/p>\n

2.When can I pay this money back (principal and fee)?<\/p>\n

3.What are the repayment terms?<\/p>\n

4.Can I meet these repayment terms? (use a calendar, and your budget)<\/p>\n

5.Am I pursuing counseling or planning to pursue counseling, so that I don\u2019t have to continue to utilize these short-term loans?<\/p>\n

6.If I can\u2019t pay the principal and fee, then can I pay the extension fee? (use a calendar and your budget)<\/p>\n

7.Is this loan new or is this my 1st, 2nd, or 5th time borrowing from a short-term loan source?<\/p>\n

With all that said, if an individual has determined that a short-term loan is the best avenue available, then like anything else one should make the best informed decision for his or her given predicament.<\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Short-Term or PayDay Loans Short-term loans, payday loans, and cash advances, these are often frowned upon by some people. Yet there is a large market for these loans. Most advice concerning these loans is not to obtain them, however the fact remains that thousands of people obtain these loans every month. If they weren\u2019t profitable, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[2353,2453,3483,3802,4467,2367,2966,2360,4466,4499,857,4498,2901,715,917,4468,4472,4471,4469,4470],"class_list":{"0":"post-1532","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-general","7":"tag-annuities","8":"tag-dividends","9":"tag-finance","10":"tag-financial-planning","11":"tag-investing-in-mutual-fund","12":"tag-investment","13":"tag-money","14":"tag-mutual-fund","15":"tag-mutual-fund-investment","16":"tag-pay-day-loan","17":"tag-shares","18":"tag-short-term-loan","19":"tag-stock","20":"tag-stock-exchange","21":"tag-stocks","22":"tag-tax","23":"tag-tax-planning","24":"tag-tax-problems","25":"tag-tax-redemption","26":"tag-tax-saving-schemes","27":"entry"},"_links":{"self":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/1532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/comments?post=1532"}],"version-history":[{"count":0,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/1532\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/media?parent=1532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/categories?post=1532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/tags?post=1532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}