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Get a Helping Hand with Cash Advances

With more and more people struggling to make ends meet, it’s no surprise that cash advances have become more popular. The combination of government cuts, job losses, stagnant wages and rising costs have led families to the brink of a financial crisis and if you’re starting to find that your paycheck is running out half way through the month then you’re not alone.

Millions of people are turning to less traditional methods to ensure that they can cover their expenses each month – but why?

Coping with financial difficulties

Consumers that are in serious financial difficulty should always seek advice and guidance before taking out a cash advance. In some cases, there are better long-term options available, but for those just needing some cash to tide them over, a short term loan is ideal.

Unexpected expense

One of the biggest reasons for getting a cash advance is an unexpected expense. Perhaps your car has broken down and you don’t have the funds to foot the repair bill or you’ve fallen behind on your bills and need to make a payment. It could even be that your cupboards are looking a little bare.

You can use a cash advance for whatever you like but it’s important to remember that this can be an expensive way to borrow if used long term. Responsible borrowing centers around using the right product in the right situation so click here to find out more about cash advances and get the advice you need to make an informed decision.

How quick will I get my cash advance?

How quick a cash advance is deposited all depends on who you are borrowing from. Some providers claim to be able to send cash to your account within 10-15 minutes of your application being approved. Others take an hour or so while some offer transfers anytime within 24-48 hours of approval. If you need the cash quickly, make sure you check the terms before applying.

When will I need to repay the loan?

When you make repayments also varies between different loan providers and should be made clear when you apply for the cash advance. Some lenders will request the full payment on your next payday whereas others are more flexible, allowing you to select a repayment date.

How do I know a cash advance is for me?

If you’re stuck for cash and just need something to tide you over until you receive your wages, a cash advance could help. Meanwhile those people that are struggling with long-term financial problems will probably find that alternative solutions are more appropriate.

In any event, if you’re thinking about a cash advance it is advisable to contact a firm who provide specialist and professional financial advice on credit agreements. Click here for more information.

2 Responses to “Get a Helping Hand with Cash Advances”

  1. I recently did research on the best loans for people in financial crisis. I found out that cash advances are not really ideal for most people due to high interest rates. It is often better to sell items, pawn items, or even title loans.

  2. Simon says:

    Useful information here – but it’s so easy to get into debt

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