Payday Advance

Written by Rylee Newton
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If you're like me, you've probably seen ads on television for payday advance companies, and wondered how they work. These ads make it seem pretty easy to get cash in a hurry. The truth is, the process really is pretty simple. When shopping for a cash advance service, it's important to work with one that provides funds within 24 hours of your application.

If you have a full-time job, and you're at least 18 years old, you qualify for a payday advance loan. The application process takes just a few minutes, and most companies approve the loan in less than an hour. You can even apply online, and have the funds in your hands by the next business day.

Payment Options

In order to ensure you receive the funds in a timely manner, most payday advance companies deposit the money directly into your checking account. If you take out a loan during normal business hours, it should reach your checking account by the end of the next business day. Most cash advance companies also make arrangements to take the money automatically from your account on a set payment date.

If you have problems paying back your short-term loan, you can often make special arrangements with your cash advance provider. Some companies offer extensions to their clients, while others split the payments over time. If you plan on taking out another cash advance in the future, you must be sure to repay each advance on the due date or make other financing arrangements.


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