Link: http://myreview.biz/blogs/index.php/100DayLoanReview/2010/07/09/beat-the-bank-review-a-creative-use-for-a-payday-loan

Everyone's done it.  Celebrities, police, judges, priests and pastors...  you name it.  They've all done it.  Don't feel bad if you've done it.  Heck!  Congress has even done it.  I bet even Obama has done it.  OK - I can't confirm that, but hey, he's only human.

So what in the world am I talking about???

Bouncing checks.

Despite our best intentions, balancing our check books, keeping up with our check registers so we know our balances, it happens.  Sometimes, there is just more month than there is money.  Other times, we make a simple mistake in addition or subtraction and think we have more money than we really do.  Sometimes, the bank changes its policies and now charges that they would have covered are considered overdrafts.  Yet even still, sometimes life just happens and we can't keep up with our bank balance, if even just temporarily.

Even if you would never consider taking out a payday loan, this may be just the scenario where you should give it serious consideration.  Let's do the math and see what I'm talking about.

Let's say you know you have 3 outstanding checks and you just got wind that your account is overdrawn.  You're already on the hook for one of those NSF (non-sufficient funds) fees of, in most cases, at least $35.  You have no idea when the other checks are going to be presented to the bank for payment, but you know this...  it's still a week until payday and it could happen any day now.

Let's use a fairly practical example here...  one check was for $105 for some groceries, another was $45 for a tank of gas, and another was $350 for your car payment.  So, you know that the bank needs $500 or you're going to be charged overdraft fees for each of these checks.

So, with 3 outstanding checks, you know you could easily be out another $105 (3 times $35).  In many cases, you may actually have more checks outstanding.  This is a good time to balance that checkbook and find out.

Well, in this case, you could easily save yourself $30.  How you ask?

If you had taken out a 100 day loan, a special type of payday loan (http://100loans.myreview.biz), you could have had the loan deposited into your bank account within as little as 1 hour.  Do this early enough before checks begin bouncing and you'll avoid all of those nasty fees.  In our example, we needed $500 to cover our checks.  Typically, the interest and fees cost for $500 will be around $75 for a couple weeks.  Thus, that $75 in interest in fees would have saved you $105 in NSF fees, saving you $30.

Sure, no one likes to have to take out a payday loan, but sometimes, it may make financial sense.

Always be sure to do your due diligence when taking out any payday loan.  You may find that it doesn't meet your needs or make financial sense.  But then again, as you saw with our example...  It may at times.

Link: http://100loans.myreview.biz

My payday loan was denied

It's the last thing you needed.  You're electricity is off, your bank account is near empty, and the payday loan company declined your application.  Even if you don't have a utility that's shut off or need money in order to eat, not having money when you need it is definitely not fun.  How many times have you wanted to take the kids to a movie or your significant other out to dinner and it's still several days until payday?  This is not a great time to have your payday loan denied.

Think all is lost?  Not necessarily...

Submit your application once, have it reviewed by over 100 payday lenders.  There are payday loan broker services out there that can help you get you the money need, even with bad credit or even no credit.  Many of these brokers allow you to submit your information using their online applicaiton form and have it presented to over 100 payday lenders within their network.  This saves you from having to submit your information on site after site even though you may still not qualify with any of the companies you submit it to.  That's right, all those fields on the form only need to be completed once.  No more having to dig through your paperwork or contact list for multiple payday loan applications.

Over 100 payday lenders?  You are virtually guaranteed an approval

With over 100 payday lenders, your chances of approval are higher than ever.  While it may be true that most payday lenders have similar criteria that they use to evaluate the loans they write, some are more lenient than others. 

How can I know for sure my payday loan will be approved?

The only way you will know for sure is to submit your application and give the broker service a chance to get your loan approved.  The good news is you only have to submit it once and all the work happens in the background.  You will have an answer typically within an hour.

What else do I need to know?

Like many payday loan programs, the broker should be able to get you a loan for up to $1500, although some lenders may approve higher amounts. 

You will be able to have the funds direct deposited into your bank account.  Some lenders will wire the money to you the same day.  Most, at the very least, will deposit the funds into your account the same day.  So, as long as you submit your application a few hours before the bank's cutoff time for deposits, your funds will be there the next morning after nightly processing completes at the bank.

Is there any other difference from typical payday loan services?

The simple answer is yes.  You should also know that using an online payday loan broker service will also mean that you will have up to 100 days to repay the loan.

How can I find a payday loan broker service to apply with?

Click here to review more information about our preferred broker for 100 day payday loans. With over 122 lenders, you are virtually guaranteed approval.

Link: http://100loans.myreview.biz

Payday loans - a blessing and a curse

Having a payday loan is both a blessing and a curse. Sure, it helps you get money when you need it the most, but it comes both at a price and a fast approaching due date.

I need more time to pay off my loan!

So, what happens when your payday loan, that you thought you could pay off on your next couple of paydays, suddenly comes due and you are still in a bind with your finances? This could be a problem. Think about it. Review your situation. As long as you can pay the interest, fees, and principal, but just need a few weeks or couple months even, you may find that the best answer is that you need a 100 day loan.

So, why would I choose a 100 day loan?

100 day loans work the same as a payday loan. You borrow up to $2500. There is still a review process, but there is a high approval rate even with bad credit or no credit. Your money is deposited into your account in about 1 hour. You can apply online and faxless, meaning you won't have to fax in your documentation.

What's the difference between a payday loan and 100 day loan?

So then.  What's the difference?  What makes a 100 day loan better then?

You have up to 100 days to pay.  That's right.  Not 30 days, not 60 days, not 90 days, but 100.

A 100 day loan is a good idea then?

That depends on your situation.  So, if you know you'll be getting some overtime, tax refund, or some other windfall in the next 100 days, you can apply in confidence and pay off your existing payday loan. Does it solve the problem of paying it back? No. Does it make it any cheaper? No. It actually makes it more expensive with the new fees and interest charges.

What it will do is help you get past a rough period by giving you more time.

Payday loans are a necessary evil - 100 day loans tame them a bit

payday loans may be a necessary evil sometimes, but they don't have to have evil timeframes for repayment.

Click here to review more information about our preferred 100 day loans lender. With over 122 lenders, you are virtually guaranteed approval.

Link: http://100days.myreview.biz

100 Day Loans Review Blog

It's no secret that payday loans can be incredibly difficult to pay back. They have high interest to begin with, that's also no secret. But, when you need the money, you need the money... right?

So, how then can you reduce the pain of taking a payday loan? Is there anything you can do to make having a cash advance on a future payday any easier? The answer is, "yes." Keep reading and I'll explain further.

Most payday loans give you until the next payday or one after that in order to pay back the loan. How likely is it that the situation that got you into trouble in the first place is now going to be resolved by the next payday or two? What if you know you're going to get a bonus or tax refund or some other windfall? Payday loans just aren't really going to do the trick with their quick due date.

There is now a company issuing loans similar to payday loans, however with an extended due date. This company is giving payday loans with upto 100 days to pay the loan back. That's over 3 months and can give you some wiggle room to figure out how you can pay back the loan. They are able to provide up to $2500 loans and are noted for being able to provide $1500 loans deposited into your bank account within 1 hour without the need for any faxing.

Qualifying for a 100 day payday loan is easy. The company issuing this type of loan approves over 80% of all applications.

So, while we don't encourage people to take on payday loans. If you need the money, have bad credit, or need longer to payback a short term loan, then a 100 day payday loan may be just what you need.

To find out more about this 100 day payday loan company, visit 100 Day Payday Loans.

Link: http://www.associatedcontent.com/article/2951994/so_you_took_out_a_payday_loan.html?cat=3

OK, so you had to take out a payday loan.

So what? It's not the end of the world. Here's what to do to avoid needing one in the near future. After all, who wants to remain in the trap of paying fees and interest to keep taking out these payday loans?

Relax and give yourself a break.

Everyone is entitled to make a mistake. Your best bet is to prepare for the next cash crunch.Make a plan to find savings and set it aside with a vow to yourself not to use it unless you would be forced to take a payday loan. While this sounds difficult, you can use the 22 money tips that can be found in the resources section to help you find some extra cash. Temporarily increase your number of dependents on your W-4 form (you can claim up to 9 without having to justify it, even if you are only, perhaps entitled to 5 on your tax return).

Review your monthly expenses.

See if you can cut some of them. Can you reduce the minutes include on your cell phone bill? This can save you $10-20 per month. Can you eliminate the premium channels on your cable TV, lower your internet bandwidth plan, switch your utilities to a cheaper competitor? You get the point, it's time to start looking for ways to cut your monthly costs. Increase your auto insurance deductible.

Look for ways to bring in a little extra money.

If you work an hourly job, ask for overtime. Even if not, it may be time to ask for a raise. When asking for a raise, ALWAYS frame your request in such a way that shows why you deserve it in terms of how you help the company. Maybe it's time for a yard sale... If you can do some odd work for neighbors... Walk dogs... Babysit... Mow... Anything.

Watch your checking account like a hawk.

You want to avoid any overdraft fees like the plague, especially when you have a payday loan out. The best advice? Limit use of your checking account and debit cards to only bills you need to pay using it, that way it's a known amount of money that needs to stay in the account. Of course, you will need to be sure you are aware of any transactions that are pending so that you don't overdraft in the meantime, but you should aim at using it only for specific bills you intend to pay through it. Everything else, be sure to pull cash and use it sparingly.

Pay off your payday loan ASAP.

If you can pay a little extra in the meantime before theloan is due, by all means. These are expensiveloans. You need to get the principal paid down and slow the interest being charged as much as possible.

Prepare for the worst.

If you really can't pay a payday loan off by pay day, you can often pay a fee and extend theloan. This is the real world. We can't always plan for our expenses. In some instances, you may need to take the cash you have in hand and take out a second payday loan and combine that in order to pay off the first one. This will at least get your principal down and extend your time to pay off theloan as the newloan will have a new later due date and probably the ability to extend it a couple times. The key here is to do some homework. You want to get the cheapestloan you can, since this time it's not an emergency.

Get out of your way.

Do your best not to be your own worst enemy. By that, I mean that we often cause our own emergencies by buying something big when we should wait until we can do so and still have savings. We can do preventative maintenance on things like our central air conditioning and heating units and cars to avoid costly unplanned repairs.

Be your own payday loan company.

After the payday loan is paid off. Build up your own emergency fund. If you borrow against it, pay it back with interest. Pay it back as if you were paying back a payday loan company, meaning, if you need an extension, make sure you pay yourself back with a fee for the extension. Then when you get done paying yourself back, reward yourself by using part of the extra you paid back for a little something special for yourself. After all, you deserve it. And you know what? You own the payday loan company, so you should be rewarded for a good investment. It's just that this time... you invested in yourself! :)

Link: http://100loans.myreview.biz

Little Timmy's birthday party is coming up. You've invited people, got the cake lined up, and you're account is empty even though you still have decorations and a present to buy. You may even be in the position of not having enough food to last until next payday. It's still days until payday. What do you do??? One option is to get a payday loan.

This article covers basic things to know about payday loans. As there is a lot of competition for payday loans, the terms vary greatly from lender to lender. Thus, the information in this article is very general in regards to terms and requirements one will face when taking out a payday loan.

Also known as a cash advance, a payday loan is a means of obtaining cash quickly to help borrowers meet their cash needs until a near term payday, usually 1-3 paydays (1-6 weeks is typical). Payday loan companies, in most cases, do not require any type of credit cash nor any collateral, except for earnings from a future payday.

In order to obtain a payday loan, borrowers must complete an application. The information required is limited to basic personal details, employment and banking information, personal references, the amount requested, a date for when the loan will be repaid, and a signature of the applicant.

When applying for a payday loan, you will often have to provide certain documents in order to qualify for the loan. These documents include the most recent paycheck, a government issued photo ID, a recent bill from a utility company, and sometimes a recent bank statement. Don't worry that you may not get a payday loan because you have bounced checks or a past due balance on your utility bill. They are simply trying to make sure you live in the same place and that your checking account is valid.

To secure the payday loan, you may be required to provide a check dated for the due date of the loan or you will be asked to provide bank account details so that they can process the payment electronically on the due date. The amount of the post-dated check will include the amount borrowed plus the interest and fees. In some states, the interest rate will be lower to comply with local laws, but there will be fairly large fees, since these are considered high-risk loans for the payday loan company.

There is often a contract to sign when taking out a payday loan, not unlike any other type of loan. It will spell out all of the terms and conditions of the loan. There will also be a truth-in-lending statement to sign for the payday loan which will spell out the principal (the loaned amount), any interest charged, finance fees and charges, what the late fees will be, what the interest rate is on an annual basis (the APR), and the date any payments would be required.

After completing all the paperwork, it is entered into the computer where it is evaluated and approved. Keep in mind, the approval process for a payday loan is fairly easy, because the interest and fees for each loan is roughly 15-20% of the amount loaned and the payday loan company only has their money tied up for a few days or a couple months. When approved, you get the cash on the spot. Although, in some instances, the payday loan may be in the form of a check. It's a good idea to ask before applying for the payday loan, if a check will be unacceptable for you. If applying online, the loan proceeds will be deposited into your account within 1-2 business days. So be sure you keep holidays and weekends in mind. If you apply on a Friday, you may not have access to the funds until Tuesday or Wednesday.

The bottom line is this... If you need cash fast and you can afford to pay back the payday loan with the interest and fees within a few paydays, then it may make sense for you. The process is easy and fast, so don't be afraid of being turned down. Chances are you will qualify for anywhere from $200 to $1500. This can make all the difference when you need cash and need it quickly.

For other tips, check out our Itty Bitty Money Tips blog.