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    Blog Author Mona Weathers (monawea)


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Should You Use a Payday Loan or Cash Advance Service?

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There some things I will not be able to convince you even if I try. The use of payday loans or cash advances hopefully not part of your financial freedom strategy. According to PersonalCashAdvance.com a personal payday cash advance loan works like this:

1. Read and complete our online application form (remember, there’s never an application fee). It’s important that you answer each required question accurately to expedite the approval process.

2. Your loan representative will contact you within a few minutes to confirm your details and complete the processing of your application. In some cases, it may be necessary to fax in certain documents to support the information you submit online.

3. Once approved, your payday loan is directly deposited into your account overnight.

4. On your due date, the loan amount plus the loan fee will be automatically withdrawn from your account.

So according to this site a payday loan is fairly easy to get but is it wise to choose a payday loan service when you are out of cash? In my opinion it is not a wise choice if you are planning to make it a regular habit. If you don’t have a handle on your money then a service like a Payday loan will probably cause you to frequently use the service which is like taxing yourself due to lack of control.

This ’stupid tax’ ,as Dave Ramsey calls it, is something that happens to different people in different ways. I recently made a huge mistake that costs use a large amount of ’stupid tax’. It’s never fun to throw away money but if you choose to use a service like a cash advance be sure it’s few and far between. Borrowing money should be something you decide will not be part of your financial plan. It can be difficult to stop borrowing money but it should be something you are actively seeking.
This post is also a review of a payday loan site called PersonalCashAdvance.com . I chose to do this review because I feel that my readers can make up their own minds. I am not promoting payday loans or suggesting that they are completely useless either.

PersonalCashAdvance.com offers up to $500 in cash advances. There is no application fee and they offer a fast and easy approval process with no credit check. Website is easy to navigate and offer easy to understand information.

May 31, 2007 | Filed Under Paying The Bills- Sponsored Ads 

2 Responses to “Should You Use a Payday Loan or Cash Advance Service?”

  1. bryan on June 4th, 2007

    Hi Mona,
    After a long period I am here again to comment.I personally believe Pay day loan or cash advance should be avoided. It will be better to go for any Secured loan like mortgage or car loan etc. If you are very much keen to pay day loan then please be choosy with your company selection.But still I personally suggest you to avoid Pay day loan.

  2. Mona on June 7th, 2007

    Thanks for the input Bryan and thanks for stopping by. ;)

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