How is a Payday Line of Credit Different from a Standard Personal Loan?When you take out a personal loan, short term or otherwise, the process is closed-ended. The loan is funded, repaid, and that’s it! A line of credit gives you the leeway to withdraw more or less funding depending on your needs at the time. Furthermore, up to the maximum you’ve been approved for, multiple loans can be in process at the same time. Best of all, when you repay any part of the principal those funds go back into the pool of available funds to be borrowed again next time you need them! If your income tends to wax and wane irregularly, being able to borrow a little or a lot from your payday line of credit means you can keep your lifestyle steady rather than having to scrimp through certain weeks and breathe more easily others.
What Kind of Situations Can a Payday Line of Credit Help With?
Not everyone is the perfect candidate for this particular financial solution. If you are chronically short of cash, it would be better to look for a more stable long-term solution. If, however, you’re dealing with various temporary situations such as unexpected expenses, bill dates simply having fallen out of sync with your pay dates, or temporary loss of work hours due to illness or seasonal scheduling, a payday line of credit might be the perfect way to maintain a steady flow of cash while making timely payments to all your bills and other responsibilities. And of course if you have a financial emergency, as we all do sometimes, and need to repair your car, replace your water heater, or pay for a bag full of prescriptions, the payday line of credit can get you that extra cash quick.
Bad Credit? That’s Totally Ok with Payday Line of Credit Lenders!
It’s true! Having gone through some difficult financial times does not rule you out from being approved for short-term personal loans. There may be many lenders who aren’t interested in your business, but those who work with payday line of credit loans think you deserve as much of a chance to keep your bills paid as someone who happened to be luckier or come from a wealthier background. This group of dedicated lenders has elected to compile an entirely separate set of criteria based purely on your current circumstances, such as income and employment history – instead of the standard credit check. So your score is unimportant, no matter how good or bad it might be.
Payday Line of Credit Can Help You Save Money!
Have you ever been charged a late fee on a bill because your paycheck wasn’t going to be provided until after the bill was due? Every bounced a check? If you had had access to a payday line of credit, a small withdrawal of loan cash to cover your bills would have enabled you to pay everything on time, keep your checking account in the black, and avoid the anxiety, stress, and embarrassment that goes along with skating so close to the financial edge. A payday line of credit can be your ticket to peace of mind – apply today!
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