If you live in Kansas City, you can save the day when things get tight with an emergency cash advance.
A payday loan can help you resolve a financial crisis quickly. It can help you pay for late bills or unexpected expenses before you get paid.
Also, a payday loan can prevent you from having to pay fees for late payments. Best of all, you can pay it off with your next paycheck.
With a payday loan, you’re only in debt for a few weeks. It’s an excellent solution for emergency cash.
How Do Payday Loans Work?
A payday lender can approve your loan instantly if you give them the right information. The application process for a payday loan is fast and painless.
It’s not like a traditional loan. With conventional loans, you must go through a lengthy application process. You need to fill out forms and provide a lot of information.
With a payday loan, it could take as little as a few hours to receive your money. However, you can usually get funded on the same day.
Some lenders can even fund you within hours. Many lenders compete based on how fast they can provide you with funds.
You don’t have to go anywhere to apply for a payday loan. You can do it over the internet from the comfort of your home or office. This way, you can avoid scheduling several appointments with the loan officer or calling a lender multiple times when you need emergency money.
With the standard loan, you typically need to meet with the loan officer several times. As this takes place, you’ll lose more time and spend more money on transportation. Usually, you can secure a payday loan in a single transaction.
A payday loan is also better than a line of credit. Some credit cards only allow you to pay for goods or services. With a payday loan, you can access emergency cash immediately.
What Can a Payday Loan Do for Me?
It may seem like a bad deal to repay your loan so fast but think about it. Is it better to fall behind on your credit payments and ruin your credit score?
You could apply for a traditional loan. In addition to the long application process, however, it will also take you one to two years to repay the debt.
During the term of a traditional loan, anything could go wrong. The economy could tank, or your employer could go out of business. Why take the unnecessary risk of taking out a long-term loan?
If something goes wrong with a traditional loan, you’ll also incur additional fees and penalties. A line of credit is convenient, but if you miss a payment, it will ding your credit rating.
Many people have trouble controlling their spending with credit cards. For them, a credit card feels like a free pass for goods and services, rather than a debt that they’ll have to repay later. Because of this, credit card holders often spend more than what they can afford.
A payday loan is just what you need to handle an emergency quickly. You can access the cash you need even if you have poor credit or no collateral.
How Much Can I Borrow and How Do I Pay It Back?
Typically, a payday lender will loan you $100 to $500 in the first round. You can use the money to pay bills, fix your car or for other household emergencies. Sometimes, the payday loan is helpful just to keep up your cash flow so that you can manage essential activities of daily living.
Lenders offer payday loans based on what they expect you will get paid in the future. Accordingly, payday loans are also known as cash advance loans.
You can, however, extend the term of your loan beyond your next paycheck. If a lender agrees to let you pay in installments, your payments typically remain the same until you pay off the balance.
Also, good payday lenders will let you pay the loan off early without penalizing you. Once you have paid off an emergency cash loan in good faith, a lender is typically willing to issue another loan if needed.
An installment loan against your paycheck is an unsecured loan. For this reason, some lenders call them signature loans.
What Do I Need to Get Emergency Cash in Kansas?
To qualify for a payday loan in Kansas, lenders require that you have a current bank account. Also, you need to show proof of employment and how much you get paid.
You must also show the lender that you are over 18 years old. So, you’ll need to provide the lender with identification.
At a minimum, most lenders require that you earn at least $500 a month. Also, you cannot have an outstanding loan with another payday lender if you want to secure funds.
Secure the Emergency Money You Need Today
If you need emergency cash in Kansas, you must find a lender you can trust. Waldo Financial has served the greater Kansas area for more than two decades.
We are grateful for the business of greater Kansas residents and are happy to continue to provide the service.
Walk into one of our locations or contact a friendly representative today. We can provide you with the cash that you need to handle emergencies and get back to life.