Traditional banks and creditors primarily look at your credit scores, while payday lenders (alternative lenders) will not do so. Instead, they look closely at your current income and other factors. Read on for five steps you can take if your loan application was declined.
The American Rescue Plan Act of 2021, which is now law, includes about $2 trillion in pandemic relief funding. Eligible families can receive more financial help as part of the new Act. The Child Tax Credit program has expanded, and eligible families will be getting monthly payments. It may affect your money management in 2021.
It only takes a financial emergency to cause havoc for you and your family. This is especially true if you have limited savings in the bank. And research shows over half of all Americans do not have enough money in the bank to cover $500 in emergency expenses.
Many people live on a fixed income with little additional income coming in. But there are times when additional money is needed – a cash advance. Although most cash advance payday loans are only available to people who are working, some lenders do offer cash advance loans to social security recipients.
Cash advance loans online are for urgent needs like an auto repair, medical bill, utility bill, or even groceries. Although there are no limitations on how you use your loan, it is always recommended to use the funds for urgent expenses.
Payday loans are fee-based loans. That means there are established fees per $100 you borrow. Almost all states have regulated these fees so you know what you will pay before you decide to accept a loan offer. For most states, the fees allowed range from $10to $20 per $100 borrowed. You can check your state website to see what fees are allowed where you live.
If you are applying for a new car lease (or even a used car purchase), a new credit card, a home or property purchase, etc. then you need a credit score and preferably one that is ‘good’ or higher.
You may have picked up some financial tips from watching movies in the past. Here are a few good pointers gleaned from some hit movies from years’ past in no particular order.
APY is defined as the Annual Percentage Yield. This is the rate your money earns interest by leaving it in an account. This is the annual rate of return on your investment. The higher the APY the better. Why? Because the higher the APY, the more interest your money makes, and this means more money in your pocket.
Whenever you find yourself in a tough financial spot, you may feel that you have run out of options. Millions of Americans experience this every year, especially in the present tough times. So, if you are currently facing a financial crisis, remember that you are not alone.
