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Your rent is due, the car just blew up and your electric bill is long overdue. Which one takes precedence? If you're like most consumers, there are always a myriad of financial responsibilities on your plate at any given time. And, for many of us, these financial obligations must be managed in a timely manner.
However, when your bills pile up quicker than your paychecks, panic ignites. Where do you get the extra cash until payday? You don't want to run up your credit cards, you certainly don't want to ask friends or family members for cash, and your boss simply won't extend you a pay advance.
Cash advances are often a practical solution to a common problem. Cash advances, which require no credit check and sometimes even no documentation, are processed quickly so that you can have money in your hands in a moment's notice. The next time you're sandwiched between your mortgage payment and your grocery bill, you may want to consider the advantages of a cash advance loan.
How to People Use Cash Advances?
Consumers use cash advances for any number of financial obligations, from bills to daily living expenses. The following list, however, details six of the most common reasons people turn to cash advance loans:
- Credit card payments - We all know that we must pay our credit cards to keep our credit in good standing. If your credit card is due and your paycheck is still days away, you may consider using a cash advance to pay the credit card and avoid late charges, finance fees and a black mark on your credit. Although cash advances come with fees and interest, it is still often a better choice than late fees, and it is certainly is a better choice than raised credit card interest rates because of late payments.
- Cell phone bill - Most of today's consumers rely heavily on their cellular phones. Therefore, having our phones turned off because of non-payment is not an option for many of us. We use our cellular phones to keep in touch with family and friends and to conduct business, and therefore, it is vital that we keep our cell phone bills current. A practical solution to a late cell phone payment or disconnected phone is to use a cash advance loan to cover the bill until the paycheck arrives.
- Car repairs - Just like cell phones, most consumers rely on their cars for their daily life. From working and shopping to running errands and picking up the kids from school, our cars are surely an important part of our daily life. If your car needs repairs and your paycheck is still a week away, you may want to consider the practicality of a cash advance to pay for the car repairs.
- Utility bills - Our water, electricity, gas and phone bills must be kept current so that we can keep the service. If our utility bills are late we run the chance of the service being cut off, which just isn't an option for most families. Therefore, a cash advance loan can be used to cover the cost of the utility bills until we receive our next paycheck.
- Rent payments - Failing to pay the rent on time can result in an eviction notice, something no one wants to face. Using the services of a cash advance to cover the cost your rent will protect your family from eviction and will prevent a blemish on your credit.
