6 Reasons Why People Are Getting A Payday Advance
October 1, 2021 | June Mckaig
Most people experience what it’s like to be tight on cash. You may find yourself needing a payday advance. Whether you are experiencing job loss or medical emergencies, your finances can take a significant hit. There are instances when one paycheck just can’t last you till the next one – be it due to emergency expenses, mounting bills, or budget mishaps. And in cases like those many people turn to payday advance loans.
What Are Payday Advance Loans?
Payday advance loans are quick short-term, unsecured loans. Unsecured means they don’t require you to put up any type of asset as collateral.
The good thing about payday advance loans is they are quick and simple to understand. They don’t require a lot of documents and have short waiting periods to get the cash if you get approved, usually lasting only a day or two between the start of the process and final approval.
It bears to keep in mind that payday advance loans aren’t designated to cover large expenses. They’re only $500 max in Nevada Title and Payday Loans, Inc., and you’re supposed to pay them off on your next payday – hence the name “payday loans”.
If you do decide to apply for payday loans online, this is something you should talk over with your loan representative.
Common Reasons People Ask For A Payday Advance
When you think about a payday loan, you might be a bit wary about taking on anything with the word ‘loan’ in it. However, in certain circumstances, their accessibility and swiftness are assets a person can utilize to their advantage. These are among the most common of them.
1. Job Loss
While you do need to provide proof of income to get approved for a payday advance, it doesn’t necessarily need to be your salary – despite the name. Just make sure to have the correct paperwork associated with whatever form of income you are using.
Many people apply for a payday advance loan when they need a little cash to tide them over before their unemployment benefit or worker’s compensation kicks in. At which point they pay off the loan with no hitch.
2. Health Expenses
Unexpected health expense is another common reason people apply for a payday advance. Even those who are insured might have deductibles they aren’t able to cover straight out of pocket; not to mention emergency doctor’s visits or medication the insurance doesn’t cover. Putting health under additional risk just isn’t worth it.
3. Overdue Bills
Unexpected mounting expenses often make the paycheck disappear before the bills are paid. It can be easy to judge those who don’t prioritize paying rent and utilities first thing, but when the choice is between food and electricity, few choose electricity.
But losing a safe roof over one’s head is also not something many would risk, especially when they need just a few hundred extra dollars to cover it.
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4. Urgent Travel Plans
Making travel plans on short notice can be expensive, especially if you’re already stretching the paycheck as is. But sometimes family emergencies mean you just have to rearrange your plans and budget.
And when one can’t find it in their budget to cover the flight/train/road trip – a payday loan can help get you to where you need to go to deal with the family emergency.
5. Unexpected Moving Costs
Many underestimate how hard it is to cover moving costs when you haven’t planned for them. Even intrastate move costs on average more than $2000 – not many people have emergency funds with that much money in them.
So when a person needs to move out as soon as possible, those few hundred dollars can go a long way through a payday advance. While it may not pay for the entire move, it can still help make it more manageable for you.
6. Emergencies During Holidays
Even when you are plenty busy trying to get ready for holiday plans, emergencies do not take time off. You can literally be hit with any kind of emergency at any time.
Most people don’t tend to budget for holidays in the first place, and even when they do, they tend to get so busy that they forget to still budget for emergencies. Whether it is home repairs or late utility bills, these things still need to be budgeted for during the holidays.
When you do experience an emergency while you are busy planning your holidays, a payday advance can help pay those down for you. And once the holidays are over, you can work on recovering your financial situation.
How To Get A Payday Advance
To qualify for our payday advance in Nevada you’ll need a government-issued photo ID proving you’re of legal age (18+), your most recent pay stub (or alternative proof of income), and a blank check from a checking account in your name.
If all the required items are in order, you just have to submit a filled-out online form on the website to get started. A payday loan representative from our nearest store will give you a call after the form is processed and set up a meeting with you. Just search for ‘auto title loans near me’ on our website to find our locations.
Bring the required items to the meeting for the representative to assess. If they decide you qualify for the loan, they’ll help you finish the final paperwork and you’ll get the cash the very same day.
Get The Help You Need With A Payday Advance
When you need extra money to help with emergency expenses, you can always come to Nevada Title and Payday Loans, Inc. for a payday advance. Our process is simple and our staff is waiting to help you out. Get up to $500 today when you look to a payday loan for help. All you need to do is go and fill out the form right now to get started on the process.