Cash Advance (From
Philadelphia To Washington D.C.) Pay Day
Loan- No Fax
New Information: Philadelphia cash advance is the most
popular location to get a payday loan. Washington D.C.,
St. Louis, Oakland, Phoenix and Detroit are growing in regards
the the amount of cash advance companies available.
For the past couple of years I hear more and more about payday loans. I really didn't know much
about them, so I decided to research just what they are all
about. I recently called a Philadelphia cash advance
company to find out just how they work.
Some Cash Advance Companies I located Around The U.S.
What I found was that a cash advance (Detroit, Phoenix, St.
Louis give higher amounts) is a loan that is given to
someone without a credit check and only to help them with their
cash flow between checks. Usually they will give you anywhere
between $500-$1500. Because they do not check your credit,
anyone can get this payday loan (as long as you have a job).
They usually require you
to provide them with a post dated check. The date that you pay back the
money/loan usually falls on your pay day. You will also owe them
accrued interest as well as the initial money you borrowed.
Can You Really Afford A Cash Advance?
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Growing in popularity, these payday loans
are extremely popular in the following areas:
Indianapolis, Dallas, Pennsylvania, Newburgh New York,
Sacramento, Monmouth New Jersey, Utica New York, Jamestown,
Kalamazoo, Scranton, Montana, Bergen, Nebraska, Greensboro,
Greenville South Carolina, Maine South Dakota, Boise,
Alabama, Nassau, Kentucky, Washington D.C., Mississippi,
Syracuse, Utah, Detroit, Phoenix, Oakland, Philadelphia, St.
Louis and Norfolk Virginia.
The burning question in my brain is who can afford
these cash advances. Detroit residents are among the
highest areas using this loan system. When you think about it;
you simply think you pay the loan and the
interest; but no one says the interest can be as high as
700%! I'd like to think that I make enough money;
but I am sure at some point I could need money right
away- but I'll never pay someone 700% interest.
The way I really think about these payday loans is that
you are more likely to put yourself into a bigger jam
because their is nothing left of your next check.
I also talked with someone from a Washington D.C. cash
advance company; who said that they allow their clients
to roll over the loan. Which basically means when
it comes time for the company to deposit your post dated
check; you can call them and tell them not to. For
some additional money they will hold that check; and let
you pay it in yet another two weeks.
These companies use different lingo including: cash
advance, payday loan, quick loans but just think of one
thing before going forward with this- they usually
target young, poor, bad credit consumers; I don't
recommend this for everyone, it is likely you will be
worse off then you were prior to the loan.
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