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Have once felt temporary financial insecurity? Now you must know the right solution because today there exist special short-term unsecured loans that you can get almost without hard attempts. They are called ‘payday loans online’ or ‘payday advance’ and they offer good benefits. Either you need to cope with your medical bills or emergent car repair, payday loans will provide you with the fastest solution of your temporary financial trouble. Such loans are pretty convenient due to the possibility of online service. The clients should not get out of their homes but just use their mobiles or Internet for getting the needed sum on their accounts. The sum of money varies from $100 to $1500. The loan is given on the day of your application and can last up to 14 days. The name of the loan itself means that money is given to your next salary.
Among all these advantages you do not need to forget about a pretty high interest rate. As a rule, it varies from 10% to 30%. The annual percentage rate is 390%-780%. Nevertheless, small size of such loans, their short terms and simplicity have made them the extremely popular in the USA and other countries. In order to get payday loan online all you need is just to fill in the special online blank. A few hours later, you will get the needed sum of money on your bank card. The whole process itself is performed on the basis of the information you’ve filled in. The loan companies do not pay their attention to your credit history and do not require any proving documents. Due to this fact, even poor credit people can get this kind of loan.
After the termination, the sum together with the additional interest is automatically debited from your bank account. In fact, in some USA’s states it is allowed to prolong the term of your loan without any extra payments.
Traditionally, the USA’s credit companies offering such payday loans online are hardly criticized by leading experts. It is said that these loans give more problems to people with bad credit history, keeping on putting them into new debts. On the other hand, payday loans online seem to be a great alternative for those who face financial troubles.
Despite of all the disadvantages and contradictions, this type of express loans will not lose its popularity and usefulness in the USA. The annual value of issued credits has been doubled for the last six years and now includes hundreds of dollars a year and goes on increasing among the average USA dwellers.