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The Truth About Cash Advance Loans - Things You Should Know Financial hardship is a very difficult thing to go through, and if you are facing these circumstances, you may need fast cash. For some consumers, a payday loan can be the way to go. Keep reading for some helpful insights into payday cash advances, what you should look out for and how to make the best choice. A payday loan is sometimes the only financial option left available to people. If necessary, then check into getting a payday loan. See if you can get the necessary funds from friends or family rather than through a payday lender. Be aware of the deceiving rates you are presented. It may seem to be affordable and acceptable to be charged fifteen dollars for each one-hundred you borrow, but it will quickly add up. The rates will translate to be about 390 percent of the amount borrowed. Know exactly how much you will be required to pay in fees and interest up front. Only give accurate details to the lender. Provide them with proper proof that shows your income like a pay stub. Also give them your current phone number. By giving out false information, or not including required information, you may have a longer wait before getting your loan. Choose your references wisely. Some payday loan companies require you to name two, or three references. These are the people that they will call, if there is a problem and you cannot be reached. Make sure your references can be reached. Moreover, make sure that you alert your references, that you are using them. This will help them to expect any calls. Make sure that you read the rules and terms of your payday loan carefully, so as to avoid any unsuspected surprises in the future. You should understand the entire loan contract before you sign it and receive your loan. This will help you make a better choice as to which loan you should accept. Learn about the payday loan fees prior to getting the money. One example of exorbitant payday loan fees is an instance in which you borrow 0 and end up paying back 0 due to fees. This is equal to 400% annual interest. If you default on the loan for any reason, you'll end up paying even more. Consider all the payday loan options before you choose a payday loan. While most lenders require repayment in 14 days, there are some lenders who now offer a 30 day term that may fit your needs better. Different payday loan lenders may also offer different repayment options, so pick one that meets your needs. If you're planning on getting a payday loan, make sure it's a last resort. Payday lenders charge very high interest. If you're thinking of getting a loan, do your best to make sure you have no other way of coming up with the money first. Payday loans are very expensive and should only be used in emergencies. Use the advice above to make wise decisions about cash advances.