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Cash advances, or what is sometimes called payday advances or simply payday loans, are used by working people who happen to have emergency expenses that need covering before payday. The loan amount will be paid back on their next payday which usually occurs every two weeks or monthly. These types of loans range from 50 to 1000 pounds and are short term loans borrowed until the next payday. What usually happens is on your next pay day the entire loan amount plus the amount charged to finance this endeavor will be withdrawn from your checking account or debit card, whichever you choose. Payback In Two Periods There is also what is known as a two period loan that involves paying back the loan over two pay periods - this is however more expensive to do. How it works is you payback the finance charge in the first period and on the second period you pay the loan amount plus the finance charge for the additional period. Emergency Assistance You may need an emergency loan for a plane ticket to see a sick relative, bail money for a family member, funds to pay an expensive fine, or funds for someone that is in dire straits. Whatever the need payday loans are the way you can take care of your emergency needs with no stress. Payday Loan Extensions Payday loan extensions can be done three working days before your first due date - but give more notice if possible. The financial charge must be paid on the first original due period. On the next due date you will have to pay the full loan amount and the finance charge for that period. This option is not advisable as you incur additional costs. Application Process Application forms for payday loans can be found online and are typically very short. You simply provide personal information that involves your phone number, street address, email address, and of course your name. Privacy rules must be reviewed and employment information provided so the company can verify that you will be able to accomplish payment on your next payday. Bank account data will also need to be provided so the loan company can fund your account. Contract Make sure you are aware of all the charges involved, and what's expected of you before you confirm the loan. Loans of this nature are typically repaid from your bank account electronically on the date specifed. Payments by debit card is also accepted. Payday loans are meant to be easy and quick to accomplish. There is always a support team that will glad to help you if any problems arise.
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