I Need Money Now & Desperately: How Can I get Cash Today

I Need Money Now- How Can I Get Cash ASAP

Need Money NowAs much as possible, people would avoid securing a loan. But there are situations where you don’t choose, considering that you need nearly quick cash right away. For instance, you don’t have that much time to raise the amount you require in case of an emergency.

Do you need A Payday Loan?

One of the choices for you is to secure a payday loan or a cash advance. It is the most common option, especially if you need fast cash. You may have heard that many people were getting payday loans.

But just before you finally decide to get one, you must know what you are getting yourself into as a borrower. Payday loans are short-term loans. Like other loan options, it comes with risks, pros, and cons. Lenders will then get the check, and when you are ready to pay off the loan, they will cash the check.

Do you need No Credit Checks?

For most people who have good credit scores, borrowing money is never difficult. Once you have submitted all of the requirements to prove your financial capacity to pay back, the payday lender will grant your loan application. What about people who do not have good credit scores?

Unlike other kinds of loans, payday lenders do not conduct credit checks thoroughly. They only perform what is known as a soft credit check. Meaning that even if your credit standing isn’t so good, you can still secure a loan. Be wary of lending companies who don’t care, as this can be a red flag.

Requirements For A Loan

Need Money NowThe requirements that you have to submit vary from one state to another. Here are the minimum requirements that you have to satisfy:

  • You must be at least 18 years old.
  • You have to provide a steady source of income.
  • Must be a resident in the state at the time of loan application
  • When applying online, you should provide your Taxpayer Identification Number or Social Security Number.
  • When applying personally, submit proof of income, bank account, and checking account.
  • Borrowers also have to submit a duly completed application form.

Do you need to apply for a loan?

payday loans Need Money NowApplying for a cash advance or a payday loan is not that difficult. The method how you can use depends on the lending company. There are some companies where you can apply online, whereas others have to go in-store. Some lenders offer both.

Many prefer to apply online since it is very convenient. You have to submit all the requirements needed from you. The amount you want to borrow is then debited into your account.

Keep in mind that it is still the lender’s discretion as to whether your loan application is approved. The lender also determines the approved amount.

If you decide to apply for a loan in-store, you have to submit your documents in person. When paying your loan, you have to pay in the store where you received the loan. Make sure that you pay back the loan before the due date.

I need a loan; are they safe?

The question as to whether it is safe to apply for one would depend on different factors. First is the reason why you are getting the loan. Many people fall into the debt cycle trap as they tend to go for the easiest and fastest way of having cash, even if they aren’t sure if they can pay for it. Another thing that to be considered is the reputation of the lender.

When you search online, you find yourself getting a lot of attractive loan offers from lenders promising you low-interest rates. It is the responsibility of the lenders to provide all of the information.

These are the kind of payday loans that you might be applying

  • student loans
  • bank loans
  • Auto loans
  • cash loans
  • deposit loans
  • title loans

Pros of Payday Loan

Applying for payday lending has its share of pros which include the following:

  • It is fast and easy to get. You do not have to submit too many documents, unlike if you go for traditional means of securing credit.
  • The lender does not thoroughly check your credit score. Even if you have a low credit score, you can still get near-instant cash.
  • You can apply for a loan even anytime and anywhere. Most lending companies providing this type of loan allows borrowers to submit their application online. You simply have to fill out the application form and attach the documents.


Now, as much as payday loans look appealing and with all the advantages, it does not mean that you no longer have to deal with the drawbacks. It has its share of downsides, too, which include the following:

  • Lending companies may charge high-interest rates. Since it is not a secured loan and you don’t have any collateral, you can expect higher rates compared to other loan options.
  • There are cases where you might encounter shady companies that have hidden costs.

What Are the Other Alternatives?

Aside from payday loans, there are other loans that you can get. If you need huge cash and collateral, you can use your property and apply for a secured loan. From real estate properties to cars, there are lending companies that offer this type of loan.

The rates may be lower compared to unsecured loans like payday loans. The downside is that if you cannot pay off your cash loan, the lender will take your property.

Long-Term Alternatives

There is nothing wrong with getting a cash loan. However, it is much better if you can have long-term solutions to address your financial needs.

Here are some tips that you may want to work on:

  • Build up an emergency cash fund.
    It is very important to save money. Apart from savings, you should have an emergency cash fund. You will only avail of a personal loan if you need more cash. But at least you don’t have to worry about having to pay back a huge amount of money.
  • Have a credit card that you can only use for emergency purposes.
    Nowadays, a lot of people use their credit cards for daily expenses. It helps that you have a credit card that you can use in cases of emergency. Having an open credit card enables you to withdraw cash right away if you require almost instant funds.
  • Look for additional sources of income.
    Getting a loan is okay. Suppose you want to achieve financial stability. It should be the long-term goal. There are various means for you to augment your income to start saving and have emergency funds. You can do part-time jobs. Doing additional work where you can also earn money is a way to be much more productive.

To Get a Payday Loan or Not?

Every person’s financial situation and circumstances vary. If you have already explored all of the possible means to raise the funds you need and you still need cash, getting payday installment loans may be the most viable option for you.

But you should also know when not to get a payday loan. Most people would use this kind of loan to pay off their previous loan, which is not advisable. Apply for a loan only if you know that you can pay it back.

Installment loans and car title loans are the finest alternatives to payday loans. Installment loans provide a longer payback time and do not need collateral. Still, car title loans require a vehicle title as collateral and often have a lower interest rate than payday or installment loans.

I Need Money Now - payday loans

Personal Finance Writer at Payday Champion | + posts

Kathy Jane Buchanan is a Certified Financial Planner, with more than two decades of experience in writing about personal finances. She has written a variety of articles for PaydayChampion and has helped to simplify lending, investing, banking and credit as well as other topics related to personal finance for consumers. Kathy has worked for major financial companies and also worked for small credit unions. she founded a fee-only financial planning firm, Approach Financial Planning, located in Houston, Texas.

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