USING A PAY DAY LOAN

If you are a little behind on your bills, a payday loan just may be a better option than paying late fees. Late fees on credit cards and other monthly bills can cost $30 or more. And if your utility or phone service is disconnected, there are more fees to reconnect your service. It would be a good idea to start finding out what the late fees are for each of your bills. Then you can compare the cost to determine if a payday loan is a better option.
If you’re running late on bills a payday loan may be a better option, depending on the amount of your late fees and the time you’ll need to repay the loan. We recommend that you look at the cost of all of your options before deciding to get a loan. A pay day loan may also be a good option if you have something planned and won't have the money in time enough to do what you have planned. Simply borrow the money and pay it back when you get paid. Remember the key to a successful pay day loan is to pay on time.

What Is A Credit Bureau?

So........ What exactly is a credit bureau?  These are the people/companies that score us on whether or not we pay our bills or debts we create for ourselves. The collect and store information on all of us that gives various organizations and companies insight on whether or not they should extend credit to us for a good, loan or service. A credit bureau is also called a credit reference agency. By using these agencies companies are able to determine our borrowing and bill paying habits. This helps lenders assess our credit worthiness, the ability to pay back a loan, and can affect the interest rate and other terms of a loan. Interest rates are not the same for everyone, but instead can be based on risk-based pricing. There are even employers who determine who they are going to hire based on a persons credit. 

In the U.S., credit bureaus collect personal information, financial data, and alternative data on individuals from a variety of sources called data furnishers with which the bureaus have a relationship. These Data furnishers are typically creditors, lenders, utilities, debt collection agencies and the courts,public records that a consumer has had a relationship or experience with. They report their payment experience with the consumer to the credit bureaus whether it is good or bad. The data provided are then placed into the credit bureau's data files.

What Is Credit ?

Credit is trust which allows one party to provide resources to another party and  when the second party does not reimburse the first party by the agreed due date, it creates debt. The resources provided may be a loan, or may consist of a good or services. For example: You purchase a television from blah blah company but, you don't pay for the television when you first get it. You promise to make payments on it each month until the television is paid in full. If your pay for the television as promised, it will show up to the credit bureau's as paid in full, giving you points on your credit report. Sort of like a report card. You get a good grade if you pay in full and when you pay on time and so on.


Credit bureau's such as Experian and Trans Union keep a list of consumers purchase's ,paid bills and unpaid bills as a resource for creditors to determine whether or not to grant a consumer credit with their company. They collect information from various sources and provide consumer credit information on individuals to companies. It is best to keep your credit as clear of debts as you can because the better your credit score is the better the opportunities you will have to purchase a home, a car, to get a loan or approved for anything that requires you to have a credit check.

What is a Payday Loan?

A payday loan which is also called a paycheck advance is a small, short-term loan that is intended to cover a borrower's expenses until his or her next payday. Payday loans are fast and easy.Whether you need $200, $1500 or more, the loan companies help you to get the quick cash you need to cover life's unexpected expenses. The online applications take just a few minutes to complete and most online applications don't require you to fax anything. Another good thing about getting a payday loan online is that you will get an instant approval decision, most time within a few hours or less. No credit is usually required to get these types of loans and is a great source for people with bad credit. However, there can be a downside to getting a payday loan. If you cannot afford to pay the loan off I would advise against getting one. A payday loan is just that a payday loan. It is only designed to get you by on a short term basis. If you don't pay the loan off right away, you can end up paying a high cost of interest fees that really would not be worth it in the end. On the upside if you are in a bind and you have a job and a checking account it serves as a wonderful financial source whenever you need a few bucks just to temporarily get you to your next pay period. My advice is, simply..... be responsible. Don't borrow more than you can pay back and pay the loan off as quickly as possible.