Recent Blog Posts in April 2011

If a new proposal makes its way through the state Assembly in California, the cap on payday loans could increase.

That is great news for people who need payday loans. When you use a payday loan, you are borrowing against your future paycheck; basically, you are using your own money, just ahead of time. However, you must pay interest on the amount that you borrow, sometimes as much as 460 percent annually, which can leave you in even more debt if you are not careful.

The current cap in California is $300; Assemblyman Charles Calderon has proposed to raise it to $500 this year. Tom White, Whittier's chief of staff, added that: "People don't have access to money often any other way than a product like this [...] they either can't qualify for a credit card or banks don't lend this amount of money generally."

What hours you obtain a same day loan?

You can fill out an application 24/7. However, depending on your loan provider, it may take a few hours to verify your applications, especially if it was not submitted during normal business hours. It is important to remember that the lending institution can only submit an electronic deposit to you bank on the days that you bank is open for business.

Since we match you with lenders who can provide you money in real time, it is best to submit your application to us during regular business hours. These generally run Monday to Friday, 8 a.m. to 5 p.m. Since many lenders are not open on the weekends or holidays, try to avoid these times when submitting your application if you want a quick response and deposit. However, the sooner you submit your application, the faster we can get you the money you need.

Fill out your online application and get the money you need within 24 hours!

Ever wonder if it would be cheaper to just rely on overdraft fees versus a cash loan? The answer is simple: cash loans are the better choice every time.

Not only does it cost more to pay off overdraft fees over time, these fees are applied to your bank account or credit card later than you expect. That means that you may think you have a certain amount of money in the bank, only to find in your next statement that you are back in the red. When you opt for a cash advance you will pay just one fee when you sign for your loan.

These fees are minimal, around $15 per loan. The average bank overdraft fee ranges from $30-$54 for each time you overdraft, and a credit card late fee can also cost that much. Of course, you could risk not paying your bills on time, but then you are in danger of having services cut off or even losing your belongings.

There are three common myths about payday loans that must be debunked.

First, lenders often charge astronomical rates in order to make big profits. The truth is, when you compare payday lenders to other lending institutions, you will find that the profit margins don't compare. In fact, payday loans can be expensive to provide.

All payday lenders are dishonest about their fees, and even try to hide them. Since all lending institutions must abide by the Truth in Lending Act, they are obligated by law to tell you about all fees. If a payday lender does not provide this service, walk away from their loan immediately.

And finally, the lending industry loves to prey on those individuals who are up to their nose in debt. In this day and age, anyone can obtain a payday loan, no matter what your financial status is. Since banks have been unable to provide short-term loans to many people who need them, payday loan providers have stepped up to fill the void.

If you are in need of a payday loan to get you through a financial emergency, get the funds you need by completing our online application!

Is there a limit to the amount of times you can apply for a cash advance?

Although it is inadvisable to apply for a cash advance multiple times, there is no limit. Since they are mainly used for emergency financial situations, cash advances are best used rarely, not as a regular way to get the money you need. They are perfect for one-time expenses, such as a medical bill or car repair payment, not to supplement your regular income.

If you find yourself using cash advances multiple times within a month, even for several months in a row, it may be time to seek financial counseling. It is always best to determine whether a cash advance will hurt you in the long run, or if it is a viable option for short-term financial problems. Since you will be using your next paycheck to pay for your cash advance, you must be prepared to not have that money available during the next pay period.

If you're looking to get money fast, a cash advance may be ideal for you.  To get started, simply fill out our online form and find out if your approved within moments.

One of the biggest concerns that some people have when applying for a payday loan is if their credit will be negatively affected by applying for a paycheck advance.

The quick and simple answer is no! Your credit will not be affected by applying for an online payday loan through ConnectedCommunities. Our lenders do not perform a credit check when determining if an applicant is eligible for any kind of cash advance. This means that even if you have bed credit, no credit or even fantastic credit, your application will not be affected by your credit, and neither will your credit be affected by applying.

The only situation in which your credit could be harmed by a payday loan is if you are late or negligent in paying back the loan. Falling into a situation where you can't keep your agreement with the lender is the worst way to negatively affect your credit. By staying on top of your payments however, you can help ensure your credit is not negatively affected in any way.

If you are in need of a fast and easy cash advance, get started today with our online payday loan application!

More and more people are opting to use payday loans because they are fast and easy to obtain. There are countless reasons why people need these loans, but no matter what your reason is, it can be possible to get the money you need today.

In many cases, a person will have an emergency financial situation arise that requires them to pay a sum of money they do not have. If you are in danger of falling behind on bills, getting a payday loan is an ideal way to stay on track. That way, you can avoid overdraft fees, bounced check fees, defaults and late payments. Since it is more difficult now to get short-term loans at a bank, payday loans have become the default method of getting cash fast when you need it. It is so simple to apply, you can even do it from the comfort of your own home.

If you're in need of a payday loan, get the money you need within 24 hours by filling our out online application.

There are countless reasons why people opt to accept a cash advance. In short, they give the average consumer a quick way to get the money they need without having to go through a bank. Unlike banks where an intensive screening process is required of every loan, even short-term loans, cash advances are unsecured loans that can be quickly obtained.

Since they are easier to get, cash advances are often used for emergency situations. If someone needs to visit the hospital, your car breaks down or you can pay your rent on time, a cash advance is great for short-term problems. They allow you to get the money that you would have gotten anyway from your next paycheck ahead of time. Some people use these loans when they are transitioning from one job to the next, and will experience a lag in payments.

Thinking about obtaining a cash advance?  Get the money you need by completing our online application!

If you are experiencing financial difficulties, then you may already have though about payday loans as an option. These days, you can apply for a payday loan online and receive an approval within a few hours. When a financial emergency arises - such as a repair bill, personal crisis or medical bill - you can use these loans to get back on your feet.

Once you are approved, you usually receive your payment within one business day. The process is fast and easy, and your personal information will be kept private with your lender. Accepting a payday loan is a serious consideration, which is why you should understand all of your options, what will be required of you, and what a certain company will ask of you when you apply for one.

Depending on what state you live in, the laws might vary slightly about payday loans. If you have any questions about your loan, don't hesitate to ask the customer service representative.

In need of a payday loan?  Fill out our online application to get started.