Easy Payday Loans

Easy payday loans is the best and the fastest way of getting some instant cash for paying bills and eliminating debts. If you apply for a payday cash advance, you will never need to wait for weeks or months for getting an answer from the bank, which is the case for most traditional loans. Once you apply for a payday loan, you will have to wait for a maximum of 1 to 2 hours for knowing the approval status of your application. Fast approval is one of the main reasons behind the popularity of the easy payday loans.

Easy Loans are Different from Traditional Loans?

When you apply for a traditional bank loan, you need to satisfy several stringent criteria, the most important of which is a good credit history. However, to get the easy payday loans, you will not need to have an impressive credit rating. These quick cash loans are offered even to individuals with poor credit.

Easy Payday Loans Will Help You to Pay Bills on Time

A payday cash advance is a short term loan that helps people to cover urgent expenditures until they get their next paycheck. Easy payday loans can save you from paying late fees, insufficient funds fees, reconnection fees and finance charges. If you can pay all your bills on time, your current credit score will not experience a further downfall and if you already have a good credit score, it will be maintained effectively. The cash advance borrowers mostly use the funds obtained for paying medical bills, rental fees, mortgage installments, credit card bills, etc. The easy payday loans are frequently used by people who are trying to get out of debt. These instant cash loans can act as a financial tool for avoiding bankruptcy, repossession or foreclosure.

You Can Apply for Easy Payday Loans Online

The majority of the top payday lenders allow their consumers to submit their payday loan application online. The business websites of the payday lenders have application forms, which you will need to fill for applying for easy payday loans. The information you will need to enter in these application forms includes: you name, age, address, phone number, email address, Social Security Number, employment details, bank details and the sum of money you want to borrow. Typically, payday loans range between $100 and $1,500.

The moment you submit your online application, the cash advance lender will begin to process it. Your easy payday loans application will surely be accepted if you meet the criteria mentioned below:

  1. The minimum age of the applicant must be 18 years.
  2. The payday lenders in the United States only approve the cash advance applications of legal residents of the US.
  3. The applicant should be employed or must have a steady monthly income.
  4. The payday lenders approve a cash advance application only if the applicant is a checking account holder.

Although being employed is an important criterion for getting approved for an online cash advance, an unemployed individual can also receive these easy payday loans. There are several esteemed online payday lenders, who offer cash advances even to unemployed people. If you are jobless and looking to get a payday loan, you must have a 90 day old bank account at any US bank.

The Easy Payday Loans Approval Procedure

It has already been mentioned that the cash advance lenders do not take much time for approving the online applications. So, if you meet all the above mentioned requirements and if all the facts you entered are correct, you can expect instant approval of the application. You will have to wait for a maximum of 2 hours for getting the easy payday loans amount in your bank account. These online lenders transfer the required money directly into the bank account of the recipient.

Easy Repayment Procedure

The repayment method of these easy payday loans is as simple and straightforward as the application and the approval procedures. Once the online lending organization approves your payday application, you will need to give them the permission of drawing a predated check from your bank account. The date on the check will be the due date or maturity date of the cash advance. This preauthorization procedure will ensure that you will not fail to pay back the borrowed amount within the loan term. Timely repayment of a fast cash payday loan within the due date will also result in significant increase in your credit score.

Easy Payday Loans Myths

  1. The most commonly heard myth about easy payday loans is that these loans are available for interest rates over 300% APR. The fact is that this is just a rumor spread by the rivals of the cash advance industry. These rivals have distorted the reality to make it look extremely shocking to the prospective payday loan users. The term ‘annual percentage rate’ or ‘APR’ is used for the interest rates charged for a span of 1 year. A cash advance is a short term loan. The loan terms of the cash advances usually range from 8 days to 30 days. So, a borrower will need to pay 300% APR only if the cash advance undergoes more than 26 rollovers. None of the US states allow that many rollovers of a payday loan.
  2. Many believe that easy payday loans trap the consumers in an unending cycle of debt. The truth is that a cash advance is the most convenient and flexible tool of getting out of debt. You can successfully avoid procedures like debt consolidation and bankruptcy by using a payday loan for eliminating debt. This will have a positive effect on your credit rating.
  3. There’s another prevalent myth regarding payday lenders, which suggest that these lenders make more profit than the banks and other traditional lending businesses. However, the numbers suggest something different. According to statistics, the average profit margin enjoyed by the payday lenders is close to 3.5%, but the banks enjoy a profit margin of around 13% for regular commercial loans. This is because the cost of maintaining the easy payday loans is much higher than the maintenance cost of the regular loans.


  1. With increasing numbers of loan seekers there has been an increased number of fraudulent lenders who take advantage of the borrowers and they disappear with the collateral and the borrower cannot do anything instead he is faced with new problems.

  2. Excellent article! I really enjoy visiting your blog because of the writers always post well thought out articles. Thanks for sharing once again. I am excited to adding to favorites this website. I think I will subscribe to this feed also. Thanks! ……

  3. Harriett Voigtlander

    When looking at different direct lenders for payday loans make sure to look into the credibility of the lender, keeping in mind that independent sources are much more credible than a website the lender wrote about themselves to get your business.

  4. When you need money but have bad credit, payday loans for bad credit is your best option to get the cash you need directly into your bank account.

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