If you possess a valid i.d. and proof of employment, then you are eligible for a paycheck cash advance. Cash advance providers are not picky. In fact, the worse credit you have, the better. That means you will probably not pay back your loan in full and on time, which means that you will be giving them more money. Once you can’t pay back your paycheck advance loan, you are immediately hit with penalty charges and even higher interest rates. These extra fees cost you money. That money goes straight into the pockets of your Denver paycheck cash advance provider. They stay in business by putting you in debt and keeping you there. The incredibly high interest rates associated with payday loans make it very difficult to pay back the loan in full and on time. They want to make it as easy as possible to get into debt. Then they make it as difficult as possible to get out of debt.
Look into alternatives to the paycheck cash advance loan
The three best alternatives to paycheck cash advances I can think of are
- Wait until you get your paycheck to make your purchase. Do you really really need the paycheck cash advance that badly that you are willing to risk going into debt? Can you not wait just 2 wks until your next paycheck? Think hard about that one.
- If you do need the money that badly, ask friends and family for help. I know it is not fun asking for money, but if you need it that badly then try to get it from people you trust first. That is a much safer alternative than getting it from a crooked paycheck cash advance provider who stays in business off of your being in debt and who stands to profit off your financial ruin.
- When you are about to apply for that online paycheck advance, remember what brought you to this position in the first place – over spending, a paycheck that never seems to be enough, an increasing sense of urgency upon every payday. The memory alone should serve as a deterrent to your insatiable need for financial speed.
If you do get a paycheck cash advance, just be absolutely sure you know how much you will owe upon your repayment date. Will you have enough to pay back the loan? Or will you roll-over your loan for another two weeks in order to enjoy your accustomed paycheck? Oh yeah, you’d better believe that paycheck will be gone, or nearly so, if you repay your paycheck advances all at once.
Indecision killed the payday advance cat
If you are not sure, do not get a paycheck cash advance loan. If you think for one second you will have a hard time parting with your money on payday, avoid paycheck advance services entirely. A payday cash advance is an emergency service, a forwarding of your payday to your specific hour of need. It is your money, and you need to pay for your money, don’t pay and you will be charged so many fees you won’t know what to do with yourself.