Cycle of debt: keeping yourself out

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How does one keep out of debt and the debt cycle? That isn’t as hard as a question to answer as some might think. The objective here is to know what to do and what not to do to help prevent you from even starting the frustrating downward spiral.

Preventing ourselves from being taken by the by the cycle of debt, we should start by explaining the situation of paying credit off with even more credit. This spiral starts by people abusing their credit cards then having to acquire another credit card to pay off the first credit card, which then leads to yet another credit card and so on.

Now that that is explained, let’s think of the ways that can keep someone out of it. Here are a few problems that start the spinning web of debt.

-Misunderstanding of financial terms
-Not saving enough
-Reduced income
-Poor money management
-Medical expenses

These are some common reasons for finding yourself in a debt cycle, after which people resort to the easiest and closest comfort.

So what is the easiest way to keep you out of debt? Well don’t spend money you don’t have and budget yourself.… Read more

Payday loans explained

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If you’ve never had a payday loan before, you probably have questions.

What are they? What can they be used for? How to I get one? Online or in-person? – Fast Online Payday Loan can help.


We can help you find the answers you seek. When you’re unfamiliar with the process anything can seem confusing. Fortunately, payday loans are fairly simple. Throughout the pages of this site, we will try to explain the details of payday loans in simple terms. We will give examples of how to use a payday loan. We will answer common questions. We will even explain the pitfalls. Fast Online Payday Loans wants you to be informed. Our hope is that you will be able to make an informed decision about whether a payday loan is right for you.

Before we get into the details of payday advances, we should make one thing clear. Payday loans are a short term solution to an immediate need for cash. They are advances secured against your pay check. They are not intended to support an on going budget problem. Repeated use of payday loans, or any kind of credit, without understanding the consequences can lead to serious financial trouble. However, once you understand their purpose, payday loans can be a great way to meet your financial needs.

The Details

In case you’ve already decided a payday loan is for you, here is what it takes to get a payday loan.

You must:

  • have a job or receive regular income
  • make at least $1000 per month
  • be a US citizen
  • have a checking account with direct deposit

You might have to fax in a few documents, but most payday lenders are now faxless. Of course, you’ll also need the money to pay off the loan when it comes due. If for some reason you won’t have the money in your account on the due date, you can request an extension or roll-over, although you should consult your designated customer service agent for details. You will need to do this before the loan is actually due or you will incur various penalty fees.

Fast Online Payday Loan wants you to be informed about payday loans. When choosing a payday loan provider, look for a site that is clear and informative.… Read more

How long does it take to get my money?

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Since these loans are deposited into your account electronically, you will usually get your money on the next business day after you sign up, although this may vary depending on the lender.

What kind of collateral do I need?

Payday Loans are collateralized agains your paycheck. In other words, your job is your collateral.

Is direct deposit really necessary?

Yes. It’s the safest and quickest way to get your money to you. Otherwise, you would have to pay for overnight shipping on a check. We have not encountered an online payday loan company that does not require direct deposit.

How do I know my personal information is safe?

Your payday lender should have a posted privacy policy that states what they will and will not do with your personal information. Additionally, the online form should be protected with 128-bit Secure Sockets Layer (SSL) encryption. Most browsers indicate that a page is SSL encrypted with a small padlock icon somewhere along the bottom of the browser window. See your browser’s help for exact details. If your chosen payday loan lender does not have a privacy policy or does not encrypt it’s forms, find another lender.

Can I get more than one loan?

You can only have one loan at a time. You can get another loan after you pay off the first one, but you cannot have more than one loan at a time. You should also keep in mind that payday loans are intended to solve your short term emergency cash needs. They are not intended to support on going budgeting problems. If you need help with you debt, credit, or budgeting, please call the National Foundation for Credit Counseling at 1-800-388-2227.

How big of a loan can I get?

Your loan amount is determined by several factors including income, state law, length of employment and other outstanding loans. Typically, payday loans are available for amounts from $100 to $500.

What if I can’t repay the loan on the due date?

Most lenders offer several payment options when the loan reaches it’s maturity date. The most obvious choice is to pay off the loan in full – the loan amount, plus the fee. A second option is to pay the finance fee plus a portion of the principal. The last option is to simply pay the finance fee. These last two options involve rolling over the loan into another loan and some additional restrictions may apply. Your lender may have a variety of repayments options available – speak to your designated customer service agent for more information on this topic.… Read more

Getting out of debt and restoring credit rating

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Are you looking to restore credit rating scores to a more agreeable and positive level? More than likely you are but you are unsure about how to go about the process of bringing your credit rating to a level that would put you back on the road to financial health.

If you are not 100% sure about the process, here is some good news: it is not all that difficult to boost your chances of success. All you need to do is take a few simple steps that can effectively restore credit rating scores. Here is a look at some of those methods.

At the most basic of levels, you need to get an effective and proper handle on your budget. A lack of liquid cash often necessitates borrowing since that is the only means left to many to be able to purchase essential items.

And, by the way, when you are buried in debt you want to eliminate the purchase of non-essential items. Such purchases can drain a budget dramatically and unnecessarily. So, keep you budget in check when looking to restore credit rating scores. More borrowing (ie loans) will undermine such goals.

It is also wise to take whatever money you save and use it to pay down your debt. When you have high credit card balances, your credit rating will suffer as a result. Why put yourself in a position where you are stuck with such a problem? Pay down your debt and this will help restore credit rating scores.

It certainly would be helpful to avoid missing any monthly payments on your bills. Far too often, people will miss their monthly minimum payment and this yields a disaster scenario in terms of the cumulative negative impact it will have on a credit score.

Yes, sometimes we can al be forgetful and that is why it is best to sign up for monthly automatic payment deductions with all sources of bills and debts. Whether it is your cable company, credit card service, or utilities company, you can set up automatic monthly payments.

This way, you need not worry about missing payments since the deductions will be automatic. Just be sure your checking account either had enough money or comes with overdraft protection so as to avoid any problems.

If you are having problems figuring out methods that can be employed to increase your credit score, it might be a wise idea to look towards procuring the help of those professionals that do possess a solid understanding of what is needed to accomplish such goals.

There are viable and legitimate credit card debt counseling services that can aid in this regard. Seeking an appointment with such counselors is certainly recommended when solutions appear to be outside of your reach. Just be sure to stick with the most credibly or professionals since less than desirable services can lead you down a path that is more problematic than anything else.… Read more