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Online payday loans are just one service in a bevy of financial products that are offered by traditional and online cash services companies.
These lenders specialize in offering a host of financial solutions that are designed to help you address any number of financial situations in a way that works for you, regardless of your personal financial situation. Here are some of the services that these companies can offer.
Payday loans are short term loans that allow you to access cash from your future paycheck today. These are very useful loan products that don’t require you to have good credit or pledge any personal property for collateral.
You simply complete a short application, either online or at a payday lender physical location, provide the necessary documents and have the cash you need in just a few hours.
Your repayment will occur in full on your next payday, unless the lender allows you to repay over time.
If you need more than just a few hundred dollars and own your vehicle outright, you can apply for a title loan. A title loan is different than a payday loan in that it is a traditional installment loan that allows you to use the equity you have in your car to secure the note.
You will have a lien on your car’s title, which means that if you don’t make your payments, they have the right to repossess your car and sell it to settle the debt. However, you still don’t need to undergo a credit check and the loan amount will be considerably more than a payday loan, depending on the value of your car.
You will also repay the loan over a period of months rather than all at once. The application and funding process is just as easy as with a payday loan. Simply complete the short application, provide the necessary documents and then allow the lender to value your car and make you an offer.
Personal loans are much like title loans in that the lender offers you a lump sum of cash and you make regular monthly payments until the principle and interest are repaid.
The main difference here is that you can use property other than your car to secure the loan and the lender may or may not require a credit check as part of the approval process.
Cash service companies offer borrowers a variety of financial products that are designed to help you address any financial need.Tags: Cash Services