WHY CHOOSE ICASHLOANS ? : When you need cash quickly you want to work with a service that is reliable and experienced in the payday loan industry - iCashLoans is both. We pride ourselves on connecting our customers with the best payday lenders to meet their needs. Why waste time visiting dozens of websites trying to figure out which lender will serve you best? iCashLoans is the only site that you need to visit when you’re looking for a fast, secure payday loan.

Cash Loans: "We Search 100+ Lenders Money in Your Account Next Day"

About Us:

Our services are designed to help you find a reputable payday lender to work with. iCashLoans has a large number of lenders in our network, and we are confident that we can assist you in obtaining the best payday loan to meet your needs. Everyone hits a rough patch financially at some point, and payday loans are a great solution for short-term cash flow problems. You don’t have to worry about how you are going to pay an unexpected bill, or cover an emergency expense, between pay checks - iCashLoans is your source for finding payday loans. Using iCashLoans is 100% free to you - we do not charge any fees for our services. When you use iCashLoans you will save time and money. All you have to do is provide us with basic information and we will instantly search our network of lenders to find you the loan that meets your needs. At iCashLoans we pride ourselves on working with lenders that are fair and honest in their lending practices. Our main goal is to provide you with a great experience when searching for a payday lender. All lenders in our network are required by law to follow all of the rules and regulations related to payday lending. Don’t drive around town to visit payday loan shops, and forget about looking at website after website trying to find a loan with fair terms. iCashLoans is the only place you need to go to find a payday loan. We will search our vast netowrk of lenders instantaneously to find you the loan that you are looking for.

Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

Thursday, August 1, 2013

Cash Advance Loans: PEW Study Sheds Light on Borrowers' Choices

Cash Advance Loans: PEW Study Sheds Light on Borrowers' Choices
Expert Author Holly Petherbridge
Another PEW study has found some interesting data on how fast cash advance loans are chosen and paid. PEW's Payday Lending in America series once again has studied the behaviors of short-term loan borrowers in order bring more light in how the industry affects the average person.

Most direct lenders would tell you that a person who applies for one of their direct cash advance loans is having financial troubles. It's an obvious answer, why else would someone be willing to pay the fees behind the loan? What the PEW study found was a more in depth answer. They calculated that 58% of the fast cash users were not just experiencing temporary emergencies but rather troubles keeping up with monthly expenses. This finding supports PEW's first report which touched upon how users would rather take out a short-term loan rather than have to work at cutting back on their lifestyle.

In order to redirect these findings, borrowers will need to work on their budgets and cutting back on monthly expenses. This could mean trading in a luxury car for something more affordable, downsizing their home or cutting out household luxuries like internet, cable and movie channels. The more money they can keep in their bank accounts the less chance they will need to use a short-term loan.

Cutbacks will also help correct PEW's second finding that only 14% of those borrowers studied can actually afford to pay the loan back in full. It is tough to repay a loan plus fees out of one paycheck. The remaining 76% need to be creative to find the extra money without leaving their budget unguarded. Some may have a family member or friend who could help while others may have to sell off household items.

The PEW study also touched upon the mindset of a person seeking out direct cash lenders. The majority of borrowers rely on the lenders to give them accurate information about the loans. If a borrower ends up choosing a lender who does not use best practices, there may be hidden costs which will create additional hardships. It takes many of these borrowers up to 5 months to pay off the loan. The $375 loan ends up costing more than $500 to repay.

Desperation is often a cause for someone to obtain a cash advance loan online. The study showed that 37% of the borrowers were so desperate for money that it didn't matter what the terms and conditions of the loan were. They would take the money no matter how expensive it was. Stressed financial situations create the potential for poor decisions with short-term loans as one of the options.

It is very important to set up a system for your money when things do go bad. Creditors step out of the playing field when bad credit history plagues a person. There are a few other choices for alternative money solutions, but who is to say which one is better than another? Preventative measures continue to be the best way to safeguard money problems. Unexpected financial situations will influence a person's bank account. How a bank account is able to persevere under tough times will directly affect future finances.

The average person will need to safeguard their finances by creating their own emergency fund and cutting back on expenses so their monthly budget sits comfortably in the realm of their monthly income. It does take education for borrowers to fully understand a short-term loan. You can try to prevent a borrower from using cash advance online loans, but if the person has no other option to get money help they will find their way back to the application page the majority of the time.


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