Ugly truth behind same day loans no credit check

Same day loans no credit check – same day approval or same day money in the pocket? Learn some truth about such offers. Get informed, get real, stay safe.

Each year, millions of people like you struggle to pay their bills, such as mortgage, rent, utilities, credit cards, kids’ school and so on. When it comes a day when simply there is no more money, and it looks like you have no alternative left, you tend to look for the “best offers”. And you’ll get all the ads for payday loans. And many of those offers will be a lot nicer in their names: cash advance, instant loans, same day loans no credit check, bad credit personal loans and so on. But the truth is the same: little money at high or huge costs.

But are you really out of alternatives? Have you considered all the options?

Alternatives to payday loans or changes in you way of life?

Ugly options like cutting back expenses, pawning goods or even selling some of your possessions? Or simply discuss frankly with some of the people or companies you owe, and get some delays in due dates of your bills? Or the mother-load of all solutions, ask help from family or friends?

Think well and think hard: going for same day loans or other type of payday loans is not in fact a way for you to avoid asking for help or to make some sacrifices?

Look, another option: go for the hard-way loans: long-term loans from banks or credit unions or credit cards. I know you will have to make a lot of calls and apply in a lot of places until you might get some money, and I’m sure you will be kindly asked, but asked nevertheless, to cut down some of your expenses. That’s right, a banker who really wants to help you will go this mile and really try to help you: you have to be able to pay back the loan he wants to give you.

But are you really ready to commit to serious change and to a long term loan? Or you still think a 5 minutes application form will give you one thousand bucks for two or three weeks, and that is all you need to get by? Bad news, the $1000 will be in fact something like $300, or at most $500, the interest will look small, you only pay $30, $40 or even $50 for the $300. But in four weeks time you will have to pay again all the bills you have to pay now, just you will be 30, 40 or 50 dollars shorter already.

But let’s say you’ve tried or eliminate with reason all the options I’ve talked about here, and you really have to ask for a same day loans no credit check, or any other type of small-dollar loan. These loans are really easy to get, you only need to prove some source of income and a checking account. But let’s see, step by step, what’s next for you.

How are in fact same day loans no credit check working?

Same day loans no credit check

You will have to write a post-dated check, dated on your next payday, for the amount you borrow plus the fees and interest. Or in some cases, you even give the lender authorization to your bank account to debit the due amount. Please remember this: the average same day loan or payday loan is less than $400, while the average cost of such small-dollar loans is $12 to $16 for each hundred you borrow.

So you get let’s say the $400, pay what? Your bills? No way. But I guess you have some money, and you only need a little more to cover the difference. Good, so after 2 weeks, you pay back the $400, plus the $50 – fees and loan interest. But two weeks later you will have the same bills to pay. Have you changed your way of life so seriously, cutting down all kind of expenses, so you will have now the missing $400 plus some $50 you paid already? Good for you.

Or maybe there is not much you can do so shortly, and you choose to renew the loan. You only pay the fees and interest, plus an additional fee for the lender to renew your loan. This way you roll on the loan, adding just a relatively small fee to it. And you get another 2-3 weeks of breathing air. But will you stop this rolling? Are you sure you will be able and ready to do it?

I hope yes, I’m sure you can, I know most of us will get to break the bad circle of these same day loans no credit check.

Anyway, just a glimpse of what happens if we don’t. Add a fee two-weeks time after two-weeks time, until it gets larger than the loan itself. Get a bad break one month, not being able to pay off the costs, we go for another same day loans no credit check, probably one with higher costs. And this only to pay the interest and fees to the first one. So we two payday loans to pay twice a month.

Can you get out of the same day loans circle?

What can you do to get out? Well, except the two options we put at the beginning of this ugly article? Not much, but there are still ways to work around. How? Back to what I advised already: borrow from friends or family, sell or pawn personal goods or assets, find a way to get a bank personal loan with long-term period and human interest rates. Or some new idea: get a tax refund at some point.

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