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Tuesday, December 28, 2010

Acquiring Cash Advance Loans

You run out of cash during a medical check-up. Your bank account is already empty; you cannot call a friend with whom you can lend some money. The doctor says drug intake is urgently needed. It seems like you have been robbed off any fortune. You went home empty-handed – not until you passed by a signboard which says: “Quick Cash Now”.

“Quick Cash Now” is the business of quick-cash companies. Quick cash companies offer payday loan and lending services. Commonly, lending fee in payday loans is higher than ordinary credit rates. You can acquire loan accounts for a measly amount of $100. Quick-cash lending services can be obtained from independent quick-cash companies and banks. These companies and banks are collectively known as payday lenders.



Payday lending process of independent lending providers consists of four steps. These are loan application, loan deposit, loan check withhold, and loan payment. These four simple steps enable loan applicants and borrowers to get cash requests in no time. Usually, loans and cash advances are given in a day. Longest waiting duration for a cash advance request is two days.

Cash Advance Application: Give a loan check indicating the amount you need to a lender. Fill out the lending information sheet. This sheet records your banking information, contact details, and employment information. The lending officer agrees with a possible loan due date, as well stipulated amount for standard payment dates. Moreover, some lending companies get contact details of immediate family and friends as borrower’s reference. These serve as their contact persons in case of failure to pay cash advances.



Cash Advance Deposit: After completing necessary information in loan application, the lending company releases your requested amount. You can obtain this through over-the-counter cash acquisition. Some lenders deposit cash advances to your bank account. Others give loans in check for encashment.

Loan Check Withhold and Payment: Lenders withhold cash advance request checks within your agreed loan due date. At the end of the term, the lending company notifies you for loan payment. Payment can be given in cash; it can also be charged on the borrower’s bank account. There are several payday lending establishments in key cities like Washington. You can do loan applications through online lending services and phone line customer lending.

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