subject: Get A Paycheck Advance In Troubled Times [print this page] Get A Paycheck Advance In Troubled Times
If you've watched the news lately, you've surely seen the reports about the state of our economy. It's not good, and what makes it worse is that most lenders have all but put locks on their front doors. No one can borrow money, which makes it difficult for the little guy just struggling to get by. But the good news is that we have plenty of money to lend! Because we offer paycheck advance loansthat usually run paycheck to paycheckwe can afford to lend more feely that traditional lenders. What's more, because our loans are so short term, we don't even need to check the credit history of our borrowers.
In fact, many of our borrowers are doing so in order to protect their credit. Why? Because in these troubled times, a good credit report is more important than ever. Times are uncertain, and if you have to suddenly move or change jobs, your credit report could hinder you if it's bad. Let's take a look at the ways a paycheck advance can help you protect your credit.
Protect Your FICO Score
Not many people realize that every time a person applies for a loan, it's noted on their credit history. What's the big deal, you ask? Well, for starters, if a person gets too many inquires into their credit history, their FICO scorethe rating that determines whether or not a lender will extend them creditgoes down. In addition, if a lender sees that someone is applying to multiple places for a loan, they'll automatically assume that that person is in financial trouble, and won't be likely to grant them a loan.
But when you apply for a paycheck advance, your credit history won't be affected because we don't check it. That's rightno dings to your credit when you apply for a loan through us.
Protect Your Credit Rating
One of the fastest ways that someone can ruin their credit is by making late payments on their mortgage, credit card bills or car payments. Even one mark on a credit report showing a late payment can affect someone's ability to get a loan or credit when they need it. But there's no need to live with late payments and the effects they have on your credit score!
By taking out a paycheck advance when your finances are squeezed too tight, you can make those payments on time and avoid any negative consequences. Simply use the loan to make your payments on time, and then repay it with your next paycheck. All of life should be this easy!
As you can see, hard times call for different measures. While a paycheck loan and payday loan may never have been something you would have thought of, in these times they make perfect sense.
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