Direct Lenders Only Links: February 2018

Saturday, February 3, 2018

Direct Payday Loan Lenders Work With Many Income Levels

Do you think that all borrowers who use fast direct payday loan lenders to solve emergency money problems fall into the same income range? If you read any of the reports made about direct lenders, you will probably believe it. These short-term loans ore often associated with those who earn smaller incomes. In actuality, there are applicants from a large range of income that need fast cash for one reason or another. The need for direct payday loan lenders is not necessarily based on income status, but rather money management skills instead.

Many folks wait to settle down until they find a job. This makes smart financial sense. No sense running into too much debt before you even have the income to support payments. The problem often begins when income is set and lifestyle choices are made. It is exciting to find a place to live, have a car and get all the things you've waited so long for. What is often forgotten is to leave space in your budget income for extras, emergencies, maintenance and cost of living increases. Most jobs will not enforce a cost of living raise each year. When fuel or grocery prices increase, your budget will need to accommodate the higher cost. What happens if you want a pet and add a whole new budget category to the mix? How can you adjust for extra expenses when your income level supports just living expenses? Let's not forget emergency costs that will keep your budget screaming for help. Will you fill up your credit cards in order to afford all the extra demand or will you use online direct payday loan lenders in order to make it through the month? Most people opt to use credit cards, but eventually that option will run out unless extra income is earned to pay off the debt.

When you do get a raise, what do you do with it? You may see an increase of $25-$100 or more in each paycheck, so what happens to that cash? Does it entice you to splurge on something extra? Will it cover a bill which was previously paid for by third money cash or does it head straight to the savings account? For the most part, it is fair to consider this money as fun cash to cover more budget additions rather than helping lower the current income strain. Some people relish this cash as an opportunity to pay off bad debt and some may even save. Those are smart money decisions to work extra income. What would you do?

It doesn't matter what income level you fall into, poor money management decisions are made every day by people of all income levels. Some decisions made lead to bumps in the road, others put a constant strain on the budget and then there are those decisions which will only support disasters. How you solve the problem will not associate itself with income level but will pay attention to your credit report. For those people with a history of money troubles will often find themselves seeking payday loan direct lenders to fund their emergency money needs.

If you are secure in your lifestyle and find that your budget only becomes more troublesome as the years go by, you may want to reevaluate some of your lifestyle expenses. Make important changes to fit your lifestyle back into the budget. Consolidate loans, refinance your car or home or cut back on some of the perks many folks like to think of as needs. The more fit you make your budget, the less reliant it will be on third party money. You will save money by saving from paying interest. Make a budget that has breathing room in order to cover unexpected costs, fill the savings account and make smart decision about a raise. What you choose to do with your hard earned cash now will pave the way for future financial needs.

Spotya! Online Payday Lender understands the short-term financial needs of our customers but also advocates for responsible borrowing while looking at each payday loan as a unique financial need. Visit http://www.spotya.com for more information on payday loans.

Friday, February 2, 2018

Direct Payday Loan Lenders: Plan For A Fast Payoff

Applying for a loan from direct payday loan lenders online is fast and easy. A quick trip to a direct lender's website and a few minutes of time to fill it out and off it goes. Short-term loan companies tend to collect and review applications very quickly as they know the customers are usually in a race to get emergency cash. The whole process could potentially be complete in an hour if there are no problems involved.

Once a borrower gets their hands on fast cash, their current financial emergency is relieved. The next problem is paying the loan back in full as it includes both loan plus interest fees. There are only a few short weeks to arrange the funds. Since these loans are unlike credit cards, stretching the payment out over several months or worse yet years, is not a smart financial decision.

Coming up with ways to get the loan paid off in the next two weeks is something not to be ignored. It's important to understand what the company can offer for payment arrangements. Some lenders will allow borrowers to extend their loan. This involves paying the fees and the principle gets carried over for another two weeks. It's a pricey way to buy more time to gather funds. Direct payday online lenders will expect the fees paid off each time the loan is extended. Not doing so will only put your loan into default and that is another whole set of problems you may not be willing to face. Up to that point, your loan had nothing to do with your credit history, but if you go into default, the collections agency will change that scenario.

There are some lenders that will offer what they call a 'buy down' where borrowers pay the full fees plus whatever else they can afford towards the principle balance. This is the best option if a full payoff is not possible. With each buy down, the balance decreases which will also lower the amount of fees dues at the end of the term. Smaller fees will give you more money to buy down the balance with. Borrowers who stick to this plan and put everything they have against the principle balance each time, the loan is paid off in a few short months.

Some direct lenders will split the amount up into 3 or 4 equal payments. This helps some borrowers plan for smaller monthly payments. Not all lenders offer this option as the interest on these types of payments is much higher than a typical payday loan. Before you choose an installment loan from a payday loan direct lender, make sure you understand the terms and conditions.

If you are able to clear up any credit balance, paying your short-term loan off with your credit card is also an option. If your credit card carries a smaller interest fee, it would help your money matters by getting the balance transferred over. Just because that debt is no longer short-term debt, you shouldn't let it ride out its course on minimum payments. It's important to pay off your credit card debt as well. Payment strategies are not all about saving a credit score or saving money from interest charges. The more prepared you are for the next money emergency, the less chances you will have to fall back to direct lenders for payday loan help. Get your credit debt paid down as well so you are ready to take on what comes your way. Your credit score, history and worthiness will prepare you to solve your own emergencies. This will bring you financial freedom, little debt to weigh down other needs and a more secure financial future.

Spotya! Online Payday Lender understands the short-term financial needs of our customers but also advocates for responsible borrowing while looking at each payday loan as a unique financial need. Visit http://www.spotya.com for more information on payday loans.