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Advance till payday: how to get the money at the same day

During this period of economic turmoil, payday loans are a common source of immediate cash for millions of Americans. This is especially true for middle-class families. Advance till payday is easy to obtain and does not require any kind of credit check, so how can you get these loans?

A payday loan is a short-term loan provided to borrowers if they can repay the borrowed money with their next paycheck. It may seem like getting a part of your next paycheck right now. The repayment period of advance till payday is dependent on the amount you need to borrow. You should only demonstrate proof of employment such as a pay stub.

If the borrowers realize that they can not repay the loaned amount at that time, the loan may be rolled over with additional charges. Non-repayment of these loans may cause the lender to claim criminal prosecution or check fraud.

Amount that you borrow with advance till payday may vary from 100 to 1500 and it depends upon the repayment capability. Payday loans can be used for all such urgent situations when you need the money immediately to fill the gap between paychecks. These situations are such like paying off bills, making credit card payments, car repairs, medical bills and so on. But in exchange of no credit check, no document submitting and no collateral against amount you have to pay extra charge of interest.

The APR of payday loans is very high and that seems quite reasonable because payday loans are short term loans and even unsecured in nature. Fees range from 20 to 40 percent of the amount borrowed. As it is 15 to 30 percent in just a few weeks, it is comparable to getting a loan with an annual percentage rate of nearly four hundred percent.

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