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Payday loans are often in the news more and more these days and often for less desirable
reasons this being the high charges. Traditionally the industry has been dominated
by often shady back street dealers and loan sharks. Well at Cash Relief things are
a little different and here we would like to outline some of the pro and cons.
First of all, at Cash Relief we prefer to call them short term loans. However, since
"payday loan" is such a popular term, we'll go ahead and use it in the following
discussion of the pros and cons of payday loans online simply for ease of communication.
- Flexibility
Cash Relief loans are the most flexible payday loans out there. Customers can borrow
money for just one day to the maximum of 6 weeks. You won’t find a bank that will
lend you money for five days and it costs less to take a payday loan online with
Cash Relief that it would to go into your overdraft or have your payment dishonour.
- Speed
At Cash Relief, we understand that unexpected expenses require a quick response.
It’s our goal to get you fast cash when you need it and not have you waiting for
days. The Cash Relief application is quick and straight-forward and in most instances
the decision is given instantly. Once approved, the cash can be deposited into your
account within minutes. Not only do we get you cash fast, but we can do that any
day of the week.
- Online
Cash Relief payday loans online are just that - online, 100%. We do not ask you
to come by our offices to collect your money. We want you to be able to access Cash
Relief where it’s convenient for you, whether that be at home, work, the coffee
shop or the library. Without all that paper to file, we must be a pretty green office!
- Roll-overs
A lot of people like to find fault with loan extensions or roll-overs because it
incurs more fees and interest. Cash Relief encourages all customers to plan ahead
for the repayment of their online payday loan. We only want customers who can repay
their loan within a month. Extensions may be necessary in the case of a lost or
stolen wallet or a delayed payday.
- High Interest Rate
This is the big one...the extortionate annual percentage rate. You can’t look at
the annual cost of a one month loan, it simply doesn’t add up. Cash Relief compares
it to a taxi ride, its convenient and ideal for a short but not for a long trip.
It wouldn’t stack up.
- Eternal debt
We hear so often that payday loans keep people in debt. Payday loans don’t keep
people in debt, consumers keep themselves in debt. Responsible lending is the foundation
that Cash Relief is built on and we encourage responsible borrowing.
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