Cash Advances Online Bring New Advantages To Consumers In A Financial Bind
Online are making it a lot easier for people in this day and age to survive difficult economic times in their lives. When you request a payday advance from Purple Payday Loans, we will submit your application to our network of lenders and get you the cash you need fast. You'll know in seconds if you're approved and for how much.
If you would rather apply for your payday advance by phone, you can simply call us at (800) 515-2429.
- Our 2-minute advance application is fast and easy to complete.
- Bad credit is never an issue. We specialize in bad credit advances!
- You'll know in seconds if you've been approved, for how much, and what the fees
The alteration of the old system used before the advent of the communications revolution
makes it much easier for both lenders and borrowers. Getting cash advances online improves the identification and the proof of employment process, virtually removing concerns about false proof. It also speeds up the payment process. The old way of doing things required the borrower to present him or herself at the payday lender's offices with various proofs of ID and employment. The borrower had to write a postdated check and leave it at the lender's office when he or she walked out with the money.
Then the lender waited until the loan maturity date. If the borrower did not show up to pay the loan back, the lender cashed the check. This check was made out for the amount of the loan plus fees. Doing cash advances online takes advantage of the improvements in communication that have occurred over the last decade. Now borrowers do not even need to leave their home in order to obtain a loan. They can demonstrate proof of income and link the lender to their bank account as proof. In fact, they can complete the entire loan application online. Borrowers can even sign agreements electronically and have
the money sent directly to their bank account. When the borrower's next payday comes, the lender simply arranges an electronic withdrawal from the bank account as soon as the borrower deposits funds in the account. This service works best with workers who have direct deposit paychecks in their job. If, for some reason, the funds never arrive or are insufficient, then the same rules apply as they did with the old system.
The lender will charge extra fees and the borrower may or may not be able to arrange another loan until the first loan and all the additional fees have been paid. Many people who need the money do not want to take time out of their schedule to stand in an office because they need to spend that time working, taking care of their kids or just dealing with whatever has brought crisis into their lives. Now they can handle more important issues after arranging a loan online.