Cash advances are short-term loans for emergency use and should not be used as a solution to long-term debt problems. Counseling with a financial counselor is recommended before applying for a short-term loan. It is also a good idea to get a copy of your credit report to make sure it is accurate. A financial counselor should be able to work with you in eliminating any inaccuracies.
There are some pre-screening questions which need answering before proceeding with the application process. These include: Applicant must be 18 years or older; must not be a resident of Georgia; must have stable employment making $1000 per month or $800 in other income per month; and must have a bank account. Next, is the application process itself. It consists of a form which is available online or by telephone. If you qualify, the money is wired into your account within twenty-four hours. Also, there is no obligation just to see if you qualify.
In terms of privacy, no personal information is transmitted from the websites. There is strict compliance with all federal safeguards regarding privacy and confidentiality. But, disclosure of non-public information is disclosed to consumer reporting agencies, if subpoenaed. Non-public information is also disclosed to marketing affiliates of the cash advance companies.
In conclusion, when people are in an emergency financial crisis, sometimes they lose sight of the ‘big picture’. They need to ask themselves if the money is worth the extra fees, the discloser of information to marketers, and having yet another loan application added to your credit history. Family and friends may not be available, but cash advance companies are not your family or friend. Cash advances companies are in the business of making a profit. So, ask yourself, ‘What are they getting out of it!’.