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.

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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.

Monday, September 23, 2013

The Impact and Outcome of Defaulting on Payday Loans

The Impact and Outcome of Defaulting on Payday Loans
Defaulting on payday loans is not something people generally plan to do. It is usually a last resort and as a consequence of a series of events preceding it. The key to avoiding its commencement is to alert the lender as soon as you are aware of any imminent problems. We can sometimes anticipate future monetary issues and if we can we should take some form of action as early on as possible. If a problem is not foreseen then it is still advisable to inform the financier of your situation immediately to avert the first late payment notice.

The first impact of defaulting on payday loans will result in the issuing of a default letter from your lender. This will only be sent out if the due date has passed and the lender has received no recent correspondence from you. If you have notified your lender of your anticipated difficulties before a payment is due defaulting on payday loans can be circumvented. The arrival of the first nonpayment notice is inevitable if you have failed to contact the financier. If you receive this default communication then it is not too late to sort things out.

At this stage of defaulting on payday loans it is often the best idea to contact the lender as soon as you can to discuss the matter. Often a situation can be easily resolved at this level and some flexibility can be arranged to accommodate the missing repayments. Sometimes credit can be reformulated or put on hold to allow the borrower a little bit of breathing space. There are several things that the financier can do to help alleviate any immediate demands for payment. This is probably the best period in which to approach your loan provider for the most positive response to your particular circumstances.

If you decline to get in touch following two or three of these letters the lender will be forced to take further action. Defaulting on payday loans then becomes more serious and can move on to the issuing of a court order to recover the amount outstanding. Lenders are always reluctant for a defaulting on payday loans to reach this stage. They will often do all they can to encourage the borrower to respond to their efforts to communicate, giving both parties an opportunity to arrange an alternative solution.

Court costs are expensive for both parties and so a lender will try to remedy the situation in a different way. Orders for legal recovery of credit are only considered for defaulting on payday loans when no explanation has been offered. The outcome of defaulting on payday loans is usually entirely dependent on the attitude of the borrower. Those people who do not respond quickly to nonpayment notices will find that the problem does not simply disappear. Those that do urgently acknowledge these communications will benefit from the lenders experience and versatility in assisting. The finest advice is to avoid a default, and if you cannot then interaction with your lender is vital.


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