Military Payday Loans

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If you are part of the military and are in a short term financial bind, then military payday loans are exactly what you need. A military payday loan is exclusively offered to military personnel that are currently serving our country. You can borrow up to 50 percent of your monthly income when you apply for a military payday advance. Payday loans and advances are short term loans that are generally paid back in about two weeks plus interest. These loans are short term financial options not long term financial solutions.

There are no credit checks when military payday loans are requested. If you have bad credit then you do not have to worry about being turned down for a bad credit score rating. If you are based in the United States, you will be able to receive your funds anywhere from one to five days later. Those who are overseas must wait for their payday advance to be wired over. There are some military payday loans that can extend your current agreement if you are unable to payback your loan on time. Make sure these details are discussed prior to signing the contract.

There are no questions asked when you want to take out a military payday loan. You can use your payday advance for anything that you need. If you need more military payday loans, then it is recommended that you pay off your first payday advance before taking out another one or rolling over the loan.

{ 1 comment… read it below or add one }

1 Dawn October 7, 2010 at 1:29 pm

I love your site and get a lot of good information off of it but I CANNOT believe you are recommending payday loans. They are rip offs. These loans charge exorbitantly large fees and interest. I checked out the website you linked to: Online Cash Advance. They state "fees may be $20 to $30 per $100 borrowed"! That's a 20-30% upcharge right off the bat. But every thing else is very vague – in fact they will not even tell you your rate of interest or your exact fee until AFTER you have filled out the application.

Many states are working to not only curb these payday loans but stop them altogether. My son is in the military and during the financial counseling that he got during training, they were warned to stay away from these. Many people, once they start using them get caught in a cycle of using them until they are so far behind and owe so much in fees/interest they cannot get caught up. In fact, according to http://usmilitary.about.com/od/millegislation/a/paydayloans.htm it seems that payday loans to Military Personnel actually may be illegal.

And when anybody tells you that you can get a loan 'even if you have bad credit' – run. Run as fast as you can…

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