Caught In California Without Cash

By on December 30, 2012

Rising costs has been found to be one of the main reasons for people to be in difficult situations without cash.  This is more so in states like California that have always been relatively on the costlier side of things.  Many people have to cut down on simple personal luxuries to restrict expenditure.  The income is mostly used up for basic home expenditures and to pay bills and outstanding loans that they may have availed to buy a home or a car or to support a child in college.  And the worst thing to happen to ruin their monthly plans is an unforeseen medical expenditure or a home repair or a friend or family visiting over the weekend that needs immediate cash.  Help is at hand in the form of Cash Advance loans to meet such emergencies.

Features of Cash Advance Loans

To avail a California cash advance loan like elsewhere in US, you need to be a US citizen with proof of age, a regular income and also a functional bank account.  The other major requirement for applying for such loans is a secure Internet connection and basic computer skills since all top lenders do business online.  Study the terms and conditions of the company where you are applying for the loan and once you are clear about it, you can submit the application online.  The company takes only a few hours to approve the loan and do not require any collateral for the same.  This is the biggest advantage when compared to bank overdrafts, that take much more time to be approved and a collateral is a must.  These loans are for a term of 7 to 30 days and the interest rates are 10% upwards.  They are to be repaid on the next payday to avoid heavy charges.  The lender decides the amount to be lent depending upon your income, and they are for small amounts with a maximum amount of $300.

Word of Advice
As a borrower you are free to use this borrowed amount on any expenditure without any limitations from the lender.  However, these loans are costly and come with huge interest.  So be clear about the amount you want to borrow and make use of these loans only in case of emergencies.  They must not be used to finance your monthly expenditure since they can get you into a debt cycle that may be very difficult to get out off.

James is a writer and blogger with 5 years experience.

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