Payday Cash Advance Questions and Answers
What happens if I don’t have the money to repay the payday cash advance?
Watch out! The payday cash advance lender wants their money back. The most feasible solution, and one used most often, is to take out the money loan again before you attempt to pay bills. Some people find they cannot afford to pay back the entire loan so they simply borrow again, but at this time a lower amount of money. This gradually pays down the loan until they can finish paying it off. The big problem comes when you do not have enough cash to pick up the loan note and take it out again. If this is your situation you will need to talk to the loan company immediately. Some may be able to work out a deal with you to pay another week’s interest until you get the money you need.
Will the payday cash advance lender check my credit?
One of the benefits of using a payday cash advance company, besides getting the cash you need immediately, is that they do not run a credit check to determine your eligibility. Their main consumer markets are those individuals who could not obtain a short term loan from a bank or do not have credit cards.
Will they loan me money if I am drawing worker’s compensation or an SSI check?
Most payday cash advance companies will let you borrow money if you are receiving a SSI check. The problem may be if you are drawing a worker’s compensation check. Those tend to be less stable and many companies will not allow you to use them as income. You will have to ask the customer service agent to be sure.