Category Archives: Home Mortgage

Payday loan: A complete overview (Page 1 of 2)

From different surveys, it is seen that the number of customers taking payday loan as well as payday lending companies are increasing frequently. If you are a person taking the payday loan for the first time or want to gather information regarding payday loan, then this article will be of great help to you.

Definition of payday loan:-

Payday loan is a very short term loan. Usually the term is 1-2 weeks. There are other names of payday loan like – “Cash Advance”, “Paycheck loan”, “Check loans”, and “Payroll advance loans”. After you get your paycheck, the loan is to be repaid. If you can not repay the loan amount plus lender’s charges for payday loan on your payday, you can rollover the loan amount by paying extra fees to the lender plus you have to pay the interest along with for the rollover period. So, payday loan can be termed a “Loan Sharking”. Necessity of payday loan:-

By the end of the month, you may face some problems in maintaining some urgent family expenses like paying off your Medical Bills, Phone Bills, and Electric Bills, House Rent or some other utility bills. These things usually happen when you fail to maintain a proper budget at the time of getting your paychecks or not keeping your expenses up to your income limit. Hence in order to meet such urgent expenses you need a payday loan.

Payday loan companies:-

There are so many companies who are promoting check cashing facilities online. Besides some banks and other financial institutions also provides you with a payday loan. You can apply online for a payday loan or you can visit physically to an institution to avail a payday loan.

Conditions to be satisfied to get an instant payday loan:-

The criterions of different payday loan companies are- 1. You must have a job or there should be a regular source of income. 2. You should have a Checking A/c in a bank. 3. You should be an US citizen. 4. You should be at least 18 years of age. 5. Your monthly income should be at least $1000 Per Month. For more, please visit

3 Simple Ways to Use Online Credit Reports to Improve Your Personal Credit

Like most Americans you may be skeptical of why an unseen online agency would want to “help” you by checking your credit score for free.  I mean, aren’t they just out there to get your money?  The truth is, these credit checks can really help you, especially if you are trying to improve your credit.

First, by checking your credit online, you avoid “dings,” which lower your score.  Many consumers are afraid to investigate their credit because they think their score might drop, putting them in even worse shape. This isn’t true with online credit reports. Thus, without dinging your credit, online sources allow you to check out your score, for better or worse.

Alternately, if you have been denied credit within the last 30 days, you can ask the credit bureau for a free report that won’t ding your credit. You do have to use a local reporting agency, which can take more time than using an online source. Most people go in person to the agency to request the report and then pick it up.  Both of these steps seem quite tedious when compared to online credit checks.

Another benefit of online credit reports is the ability to see both good and bad credit you have on your report from the privacy of your own personal computer.  No nosy bankers trying to get your a credit card or auto loan. Without sales pressure, you are less likely to get into more debt and lower your credit score.

Lastly, you can verify the accuracy of your credit.  The online report will be taken from each of the three national credit bureaus. Occasionally you will see accounts that you dispute, which gives you the opportunity to contact the bureau.  To do this, you must write a letter explaining exactly what is incorrect or disputed.  The agency must investigate.  When they contact the creditor, he has 14 days to respond or the item is deleted off your credit.  A little known secret is that if the item is less than $500 or older than one year, most creditors won’t bother responding, whether your dispute is accurate or not.  Disputing bad credit is the most direct way you can improve your credit.  When your bad credit is reversed your credit score will increase. Most importantly, after your score goes up you have the right to demand that your updated credit report be sent to all those who have denied you credit in the last six months. Good news!

So, if you wonder how good, or bad, your credit score is, don’t be afraid to check it out online.  The report is excellent information that arms you with power to change and improve your credit.  Most people with bad credit don’t know much about how it gets that way or how to fix it.  Your knowing both is a good start to improving your credit.