Unexpected Expenses

Written by Liza Hartung
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Don't you love unexpected expenses? Don't you just love it when you barely have any money to your name, yet there is still a stack of bills to pay. You need gas in your car so you can drive to work and make money, and then something comes up--either your car breaks down or you realize you missed a car payment or a case of food poisoning leaves you with a doctor's bill that's several hundreds of dollars. Why do these things always happen at the lean time of the month, about a week before payday?

When you need money fast, you might want to consider applying for a short-term loan, or a payday advance loan. These loans got their name because people needed cash just until their next payday. It's expected that you can pay the loan back by your next payday (or two, at most). The longer you wait, the more fees you rack up.

Qualifying for a Short-Term Loan

When that emergency hits and you need money, consider applying online. It's the quickest and easiest way to go. You don't have to deal with traffic, lines, unfriendly employees or stacks of papers. For most companies, however, you will have to meet a few qualifications. In general, you will need to be 18 or older, have a checking account, be a U.S. citizen, receive regular income and make a certain amount of money per month.

Depending on your situation and the company you are applying with, other qualifications could apply. When you are looking online, you will find some companies that ask for fees upfront. This is a sign of a fraudulent company. Avoid it. There will be fees to pay; however, they should never be upfront. Fees should be added onto the loan amount that the lender retrieves from your checking account on payday.

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