Before you decide to use a cash advance to get you out of a sticky spot this week, it is worth you taking a look at the FAQ’s to ensure that you know as much as possible about using the services. These questions could be the one thing that sways you either for or against payday loans and may even teach you something that you don’t already know:
What is a cash advance?
A cash advance is a short term loan from a lending company that basically tides you over until your next payday when the money is to be paid back. This could be for many reasons – unexpected bills, vehicle repairs, loss of income etc.
Does it matter if I have bad credit?
Most cash advance companies will already appreciate that you might not be able to get a “regular” loan because of your credit status so will therefore not perform credit checks prior to accepting you. There are plenty of no credit check payday loan companies especially in Canada that you can use but these may come with slightly higher interest rates.
How long will it take me to get my cash advance?
For the most part the paperwork will be processed on the same day as you fill out the application and you can expect the cash to be deposited into your account within 24 hours of acceptance. This can differ from company to company so it is best to check.
How much can I get?
This again will depend from company to company but for the most part you can get a cash advance from $100 to $1000. This does not mean that you should ask for the maximum amount however – you should only borrow what you need to prevent further financial struggles.