Frequently asked questionsHere Are the Facts About Cash Advances and Payday Cash Advance Loans
We here at CashAdvanceTreasury are thrilled that you've chosen us to help you with your short-term cash emergency. When you're purchasing any kind of good or service, you want straight answers to all of your questions so that you can make the best decisions about cash advance loans and payday cash advance loans. It's important to us that we provide you all of the information you need about these loans, so please, take a few minutes to review the answers to questions other cash advance loan and payday cash advance loan customers have asked us in the past.Can You Tell Me What Cash Advance Loans and Payday Cash Advance Loans Are?
Payday cash advance loans and cash advance loans are loans extended for short periods of time (until your next payday) to help you through unexpected or emergency financial situations. At CashAdvanceTreasury, we'll provide you the money that you need after you've written us a check to cover our fees plus the amount of money you want to borrow. The check you've written to us will be held until you receive your next paycheck. On that next payday, you'll simply pay us back the money we advanced to you.What Amount of Money Can You Loan to Me?
It seems that most people who take out a cash advance loan or a payday cash advance loan are doing so because they find themselves facing an unplanned expense, or they're simply short of cash when bills are due. They seem to choose our service to avoid further credit card debt. People choose our service when they want to avoid having personal checks returned for nonsufficient funds (bounced checks), when they want to avoid paying late fees on credit cards, and when they want to avoid hurting their credit score. Cash advance loans and payday cash advance loans can be sensible solutions to your short-term financial problem.
We do want to stress, though, that our service may not be your only option, and it may not be your best option. You should evaluate the costs and fees associated with one of our loans against the possibility of borrowing from another lender or even from family or friends. Other options that might be better for you may include a cash advance from a credit card, overdraft coverage or protection on your checking account, or even a payroll advance from your employer.Do Your Customers Use Cash Advance Loans and Payday Cash Advance Loans Very Often?
According to statistics gathered by the Community Financial Services Association, about 70 to 80 percent of the people who take advantage of a cash advance loan or a payday cash advance loan do so somewhere between one time each year and one time each month. What we encourage our customers to remember, though, is that cash advance loans and payday cash advance loans are credit opportunities that should be used in a responsible fashion, just as other credit options should be used. In addition, we advise that our services be used only for short-term budget issues, and not as long-term financial management tactics.Can I Count on My Cash Advance Loan or My Payday Cash Advance Loan Transaction to Be Confidential?
We offer our services in compliance with all state and federal laws and at competitive rates. We want to make the best service available to you at the most competitive rate we possibly can.Are Cash Advance Loans Horribly Expensive?
No, they aren't. A normal payday cash advance loan can actually cost less than other financial options available to you.*
- The Annual Percentage Rate (APR) for a payday cash advance of $100 with a fee of $15 is 391%.
- The APR for a credit card with a balance of $100 and a late fee of $37 is 965%.
- The APR for a utility bill with a $100 charge and a $46 fee for paying late or for reconnecting service is 1,203%.
- The APR for a bounced check written for $100 with a nonsufficient fund (NSF) fee of $54 is 1,409%.
These loans are for short-term situations when you find yourself out of cash and facing unexpected expenses or late fees. They bridge the gap until your next payday. Loan amounts vary between $100 and $1,500 and are determined by both the criteria we examine and by state laws.Do You Think I'm Eligible for a Payday Cash Advance Loan?
Of course! It's not hard to qualify. This is all you need:
- You need to have been employed in your current job for a minimum of 90 days.
- You need to be at least 18 years old, unless you live in Alabama or Nebraska. If you live in one of those states, you need to be at least 19 years old.
- You need to be a legal citizen (or a permanent resident) of the United States.
- You need to net at least $1,000 each month from your job. (This means $1,000 after your taxes have been taken out.)
- You need good home and work telephone numbers.
- You need an email address we can validate.
No, you don't. CashAdvanceTreasury makes payday cash advance loans available online. You don't have to fax us any documents to qualify for one of our loans (in states that permit loans that don't require documentation).How Much Money Am I Allowed to Borrow?
Depending on your personal information that we gather during the application process, and depending on your state's laws and limits, you may be eligible for anywhere from $100 to $1,500.How Is the Money Actually Sent to Me?
Once the application you've completed online has been approved, and once you've spoken to one of our customer service representatives, we deposit the money electronically into your checking account (which must be an active account).Can I Still Qualify for a Cash Advance Loan if I've Got Bad Credit or Have Had a Bankruptcy?
Yes, it's still possible for you to be eligible for one of our cash advance loans if you have had credit problems in the past. This should not stop you from applying!How Long Should I Expect It to Take to Get the Money from the Loan?
Our online application for one of our payday cash advance loans takes only a few minutes to complete. You'll find out our decision regarding your application while you're online with us. If we approve your application, you can expect a telephone call from one of our customer service representatives at CashAdvanceTreasury who will verify the information you provided to us in your online application. You will likely have your money on the next business day!What Will a Payday Cash Advance Loan Cost Me?
Your fees for your cash advance loan will depend on the amount that you borrow and which state you live in. If you should apply with a lender other than CashAdvanceTreasury, they will tell you what their fees are when you complete your application with them. We like to remind our customers that payday cash advance loans should be used for short-term cash emergencies and will often cost less than fees for NSF checks, fees for late payments, and other charges that can accrue with alternative credit options.What Are the Repayment Terms for Payday Cash Advance Loans and How Do I Pay Back My Loan?
When your payday cash advance loan comes due, we will automatically deduct the amount of the loan plus the fees from your checking account. This automated deduction means less worry for you. You don't have to remember the due date, you don't have to schedule payments, and you don't have to be physically present at any store! If you find that you need to renew your loan, and if your state of residence permits you to renew your cash advance loan, you may contact us before the date your loan is due to request a renewal. You should know that if you do renew your loan, there will be additional fees to do so.How Long Will It Take to Approve Me for the Loan?
Because you apply for your cash advance loan online, it will only take about one minute to find out if CashAdvanceTreasury approved your loan request (or if another lending company approved your request if you enabled that option while applying). Once we approve your application, we'll begin processing it within minutes as long as it's during normal business hours.