Modern life is closely connected with financial matters as we deal with money every day. Besides, we use a lot of financial services, like payday advance loans with no fax, for example, being often unaware of the main principles of their functioning. However, it's really great that you have visited our blog as we provide a lot of valuable information concerning financial options offered today, including payday advance lending service, available for people with bad credit, which is now affordable even on the Internet. Besides, you will be able to read a number of financial news that reports about the particular events which take place in different states and they will definitely attract your attention. As for the payday cash advances with no credit check, they can be easily get through our blog by means of completing the online application form. You will find them absolutely safe after reading the articles about payday advance online published here as you will get aware of all the details of this option.

Thursday, July 22, 2010

New Payday Advance Loan Legislation In Illinois

Illinois payday advance loans
In late June Illinois governor Pat Quinn signed the House Bill 537 which is aimed to limit the payday advance loan Illinois and payday lending industry in general. According to the new Bill the interest rates will be significantly capped – at 99% for the loans under $ 4.000 and 36% for the loans higher than $ 4.000.

Statistics shows that the gross income of the most of Illinois inhabitants is approximately $30,460 per year and only some people earn more than $70.000 per year.

The grounds for the House Bill

Pat Quinn stated that for many people payday advance loan in Illinois is the only possibility to pay the urgent bills and to keep their families. This is why it is so simple for the lending companies to “milk” money out of their consumers by means of increasing the interest rate and shortening the repayment periods. And this is the main reason for the government to take paints to protect Illinois inhabitants from the payday advance lenders. To achieve this it has been decided to try to make the payday advances in Illinois more affordable.

Some highlights of the House Bill

1. The loans are granted based purely on the consumer's ability to repay the debt.
2. Monthly payments of the consumers must not exceed 22.5 percent from his \ her monthly gross income.
3. The repayment term is prolonged for two months comparing with the previous one and now makes six month.
4. The lenders don't have right to penalize the customers for early pay-offs.

At the same time some governors think that the state should not only limit the lending industry but also take measures to teach the consumers save their money thus avoiding the payday advance loans Illinois. The most optimal decision for the state would be to create efficient legislation together with learning environment which would promote sound responsible lending. Proper legislation will provide that responsible and honest lending companies will continue their activities as the state needs them because they provide jobs, pay taxes and contribute the USA economy.

Currently the main problem of the country as well as the main cause for world economic recession is the large number of irresponsible payday advance loan Illinois consumers who take the unnecessary advance payday loans which they cannot repay. This is why the finger of the legislation should not point only to the lenders but to the consumers as well. At the same time the lending companies provide enough information for consumers to estimate and consider the risks and take the correct decision.

Friday, July 9, 2010

Payday Cash Advance - When You Need Money Fast

Many people think that they are able to make a proper opinion of any thing right away. They may be right but this approach can hardly be applied to money matters. When you consider financial matters you have to study everything very carefully and thoroughly. Hard earned cash should be managed and organized very wisely to avoid mistakes. Otherwise you are at risk to get a lot of debts and this is very dangerous.

Many people find themselves in the situation when they start borrowing money to pay off the existing debts. This grows more and more terrible until one comes to a conclusion that it is necessary to sort this all out. The starting point may be payday cash advance – a short term loan usually granted until the next payroll.

Payday cash advance advantages.

First of all the payday cash advance is much more easier and convenient than usual bank loans. The application process is very simple and quick and the money come to your banking account in a few hours. Besides the application form is filled in online this is why you even need not to leave the house to take the loan and receive the money.

How to choose the loan?

Nowadays there are plenty of payday cash advance offers in the Internet. All you have to do is just to select the most appropriate one for you. The basic point is the amount the payday advance lender can provide you. From your side you should prove to the lending company that you are employed and receive regular wage, which allows you to take a certain amount of money. The lender considers your application and makes the decision in 15 minutes. Having received the money you have to pay it off at the day of the nest payroll.

What about the rates?

With payday cash advance loans the interest rates are much lower as these loans are short-term. Sometimes the client may be charged for arrangement. This is why you never have to make fast choice. Payday cash advances are really very fast and convenient way to get the money you need. Besides it is comparatively cheap. Of course even more cheaper can be borrowing from friends. However now due to difficult financial situation one can hardly find a person willing to lend money for free. It is safe and reliable. All you have to do is to pay off the loan timely in order to avoid interest and charges.

Of course it would be very wide to arrange your money matters so not to need any loans at all. At the same time it is a great comfort to know that there is an option of payday cash advance if some day you need urgent money.