Pay Day Loan

A payday loan is a short-term loan for an unexpected expense typically due on your next payday. Applying is fast and secure. In a few simple steps, you can stretch your budget until your next payday by getting the cash you need now.

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It is easier to get a Pay Day loan because lenders usually do not check your credit score, and only ask for proof of income to ensure that you will be getting paid soon. Basically, a payday loan will have to be smaller than your paycheck, so you should not count on it to provide a significant amount of money anytime you need it.

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The cons however is that if you don’t pay off your payday loan quickly, it will snowball into a massive amount that you may never be able payback because interest rates are so high and will affect your credit score  and future borrowing.

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If you find yourself getting payday loans often, you really should reconsider your financial priorities and do your utmost to get your life back in order.

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Payday Loan vs Personal Loan.

 

If you need money quick and are trying to choose between a payday loan and a personal loan, we recommend that you to go with a personal loan almost every single time. There are only a few rare occasions when a payday loan may make more sense than other options like personal loan.

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Apply here or contact our professionals at BizBridge for advice.