1 Hour Cash Advance Loans – A Shocking Review

 It seems that many people often make mistakes when using these 1 hour cash advance loans. These payday loans don’t make sense for everyone and they certainly are not intended for every situation. These emergency cash advance loans should really be used just for emergencies. You may find that those times when you need money immediately to pay for some unexpected expenses that just can’t wait are exactly the times when a cash advance loan might not only be your best choice but perhaps your only option. However, you must always keep in mind that these loans are intended to be for short-term emergency needs and should never be used just because you want some quick money to go clothes shopping or buy some fun new gadget.

Why Use a 1 Hour Cash Advance ?

 They’re fast! While banks and other lenders may usually take days to process a loan application, a payday lender can often have your loan approved and the cash in your bank account in an hour or so. Also, 1 hour cash advance loans are extremely easy to get approved for as these lenders do not do credit checks and require very little information to approve your 1 hour cash advance request.

1 Hour Cash Advance Loans
       What to Look For

 As of this writing, there are over 14,000 companies engaged in the 1 hour cash advance or payday loan business. They are all highly regulated and supervised by the Federal Government through the FTC and the FDIC. However, that does not mean that all of these lenders actually follow the rules as closely as they should. After all, the streets in my neighborhood are all highly regulated as to speed limits but just like many of the payday lenders, those laws are also often ignored.

When choosing a 1 hour cash advance lender you absolutely must make certain that all aspects of the loan are fully disclosed *in writing* before you agree to accept the funds and obligate yourself to the loan.  It is also important that you get quotes from at least 2 or 3 sources to make certain you are getting the best deal possible on your cash advance loan. As I said in an earlier post:

“…. it is a very good idea to get quotes from at least 2 different sources (3 is even better) to see exactly what their interest rate and fees are going to be as you will very often find a huge difference in fees charged by different lenders and even by the same lender at different times. It really mostly depends on how much they have in funds at the time and how eager they are to get those funds loaned out and making money for them and those are both situations that change from time to time.” 

Final Thoughts on Cash Advance Loans  

• Make certain that you truly need the money right now – a real emergency and not just to buy something that could wait.
• Read all loan documents very carefully to make sure you are completely clear on interest rates, payback arrangements, provisions for extending the loan repayment if necessary and all other loan requirements.
• Compare rates and terms with at least 2 or 3 one hour cash advance funding organization to make sure you are getting the best terms available in the 1 hour cash advance loan market at the time.

1 Hour Payday Loans – No Credit Check, No Faxing

We all know that our economy is in horrible shape and see many cases where 1 hour payday loans have been virtually a “life saver”. Where else can someone go when they absolutely must have some immediate cash for an emergency situation and their credit cards are maxed out , their credit score isn’t good enough for a traditional unsecured bank loan and they have no friends or family that can loan them the money they need right now?

This situation has caused many people to suffer in their credit ratings and these same people often worry that they won’t be able to get an unsecured 1 hour cash advance loan for the money they desperately need. What you should understand is that these 1 Hour Payday Loan lenders have structured their businesses for exactly these circumstances meaning your credit score or credit history are not even taken into consideration when making their loans. These cash advance or payday lenders are well aware of the fact that most of their borrowers have credit problems and that they will have a hard time getting paid back on some of their loans. Which is exactly why they typically charge such high interest on these payday loans.

1 Hour Payday Loans with no Credit Check or Faxing 

This type of lender already believes their applicants have bad credit or they would be at their bank seeking a loan instead of looking for 1 hour payday loans. Along the same school of thought is that many of them do not require you to fax any documents to prove the statements you have made on your loan application. The truth is that they already know that they are making a “high risk” loan and have already programmed that fact into their overall business operating plan.

1 Hour Payday Loans – What is Required? 

Not much! The normal requirements for 1 Hour Payday loans are that you be a resident of the United States but not live in one of the states where these payday loans are not allowed. (Currently Ohio, Georgia, Virginia and West Virginia). They require their borrowers to be at least 18 years old and have a legal source of income of at least $800 a month. That’s it as far as requirements go for most of these 1 hour payday loans.