When I was starting out as a virtual assistant, I've had my fair share of rejected articles. It's tough because you invest your time researching, writing, and proof-reading five times or so. You spend your energy, squeeze your creative juices up to the last drop, and yet the client still says 'no'. My rejected articles, inadequate as they may be for some, is still precious for me. 

Every article is like a baby, like a work of art you laboriously create. So instead of tossing it away (or deleting the file to be more accurate), I'd like to share this here.

My rejected article on Payday Loans

Money is a necessity. The problem of the spending society nowadays is that the money they earn seems to be always not enough. 

This is where payday loans come to save the day. When an unexpected event happens or for some, just an itch to purchase something out of budget and salary pays seem to be light years away payday loans guarantee money on hand in no time.  

The process of lending money from your salary is easy. You just present a proof of identification and job certificate. The amount of money you can borrow from payday loans vary depends on the state you are at or the employer or company you are working for. 

The interest you need to pay clearly also varies. This is one disadvantage of payday loans. The high cost of payday loans often leads to employees’ bankruptcy. This is a good enough reason why payday loans should only be used short-termed. 

The Pros of Payday Loans

Payday loans for many are instant answer for their financial dilemmas. Why do many people prefer Payday loans over other credit methods?  Let me count the ways:

  • First, payday loans are hassle-free. You can apply in person, through the phone or the internet.  There is no need to present valid documentations for you application to be approved.
  • Applying for the first time is not a hindrance or an excuse for not being able to borrow an amount as high as $500.
  • Quick! Processing of payday loans may take at 20 minutes or less for some companies.
  • You are not required to give up-front payments
  • Paying the loan before the due date is possible to avoid late payment charges.
  • If unable to pay on the due date, the tenure of the loan can be extended by paying a certain fee.
Payday loans make urgent spending or paying possible and prompt.

The Drawbacks of Payday Loans

Although widely used, payday loans can cause more harm than good. 

They are short-term financial instruments often use for immediate spending while pay checks are not yet available.  Like other credit methods, payday loans have the downsides.  

One of which is that it has very high interest compared to credit cards and other types of loans. In payday loans, there is what we call “rollover”. It is a term used when you cannot pay on the due date so you just renew or extend your loan period. If done often, it can mean paying more than you have bargained for. This is why payday loans are not meant as long-term solutions to money problems.  There are also lending companies who take advantage of borrowers who are not able to pay on time. Depending on the state you’re at, the amount you can borrow varies from as low as $50.

Payday Loans Providers

They’re everywhere. Companies offering payday loans are scattered all over the globe.  

Per the update, there are more than 10,000 payday loan companies in the United States. These businesses were established for the benefit of the consumers. They are like fairy godmothers that are ready to “lend” a helping hand to those who are in dire need of getting quick cash or those who cannot wait for their pay checks to arrive.  

These companies are most often strategically located in more accessible areas. For obvious reasons, their office hours extend beyond banking hours. For convenience and business strategies’ sake, payday loan companies are now accessible through the internet.  

They are fast and reliable because they can deliver you your cash within the hour of transaction. They may ask you to deposit a post-dated check with the amount of your loan or may deduct the amount directly from your salary directly.

Answer to Life’s Demand

Human as we are, we have temporal needs. Although a cliché, money really makes the world go round.  

The problem is that money does not come easy for most of us. Though most of us are employed, money oftentimes comes late. Late in the sense that we need to purchase something very important or pay an unexpected bill right away and our pay checks are still out of our grasps. 

There is no need to worry about credit card loans or not being able to get your hands on that cash you need. Cash advance or better known as payday loan is the answer.  

This short-term, instant loan scheme offers certain amount of money with interests which depend on the laws of the states. Payable depending on the terms of the company you applied to. No more waiting for the loans to be approved and no more faxes.Who says getting the money you need instantly is impossible?

Overview of Payday

Times are hard and everyone wants to get everything they need in a snap so it seems.  Instant noodles, instant coffee. 

Instant cash? Not likely? Wrong. There is such a thing as quick cash. 

Thanks to payday loan, you do not need to wait for your pay check before you can spend, spend, spend. It is like a quick “fix” for those who find themselves in a situation where money is needed at that precise moment. Payday loans are small (sometimes huge) loans that do not need banking.  

They are loans from companies which are going to be paid by the borrower themselves through a check or may be withdrawn directly from their salaries. If paying on time is not possible, the loan can be extended or “rollover” can be used.

 It is when the borrower pays a specific fee and the interest being paid is increased. This is advisable for short-term use only.

What if you are not eligible for a loan in your bank

Or what if you have already maxed out your credit limit?  Where do you get a loan when you have a crappy credit record?  

There is one solution people turn to. Some as a last resort, for some it is the first on their list of “first-aid” for financial emergencies. 

Also called pay check advance loans or cash advances, payday loans offer a hassle-free way of obtaining money. You can access it even without leaving the comfort of your home by just logging on line. It is advisable though to check the company and apply in person so as to be sure that it is not a bogus business trying to advantage of consumers who are in need of quick cash. 

This loan like any other loans is government-regulated. The amount you can borrow and the interest depends on the state laws.

When your cash is short and you are facing a financial problem that needs instant solution, payday loans can help. There are pros and cons on this loan but many will agree that the advantages outweigh the disadvantages in many aspects.  

The amount you can borrow varies and the interest that follows also depends on the law mandated by the state. 

Waiting for your loan to be approved can take as little as 20 minutes to 24 hours. 

The payment method also can be done by either paying through a check or allowing the company to withdraw the amount borrowed straight from your salary. In any way, payday loans play a big part to those who are trapped in debts or those who are having emergencies.  Extending loan payment though may worsen the situation of the borrower.  

At the end of the day, it is still your spending habits and mindset that can save you.

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