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Which Type of Payday Medical Loan is Best For Me?

May 26, 2008
When it comes to payday loans, your options are almost endless. There are those loans for people with bad credit, and there are others that help people get their money very quickly. But how can you tell which type of payday loan is best for you?

That answer is easy. The first thing to need to do is look at your payday loan options. Each type of loan has is pluses and minuses and you will find which type of loan offers you exactly what you need.

Let's take Dan, for instance. Dan generally pays his bills on time and has enough money to get by, but he doesn't have much of a savings. His car broke down and Dan receives a bill for $300.

The worst part is that the bill is due in two days. By cutting out his Starbucks run and his Saturday night date he had planned he can afford to pay the bill, but not for 2 weeks, until he is paid.

Dan should consider taking out a 24 Hour Payday Loan. These payday loans can get the money in your bank account the following day, or within 24 hours of approval. With this type of payday loan, Dan can get the cash he needs into his account fast before his car bill is due.

Now let's talk about Susan. She has a horrible credit score but needs cash for some unexpected medical bills. She doesn't need the money tomorrow; she just needs to get the money without having her credit score checked.

Susan is best to find a "Bad Credit Payday Loan." These types of loans are available without a credit check. The amount loaned is based on your recent income.

Susan will still be able to get a payday loan, but she may have to pay a little more in the end. This payday loan fits Susan's borrowing needs best.

With as many payday loan options as there are, you can be sure to find the perfect one for your needs. Don't forget that there are lots of different payday loans that you can qualify for over the internet.

These payday loan companies require no paperwork, and you can get approved in as quick as an hour. You might even get the money in your account within the same day, for an extra fee.

There will always be a fee for borrowing money. Most payday lenders will loan you money for up to 14 days, or until your next paycheck. Each company is different and they may or may not require a credit check.

Most lenders will loan anywhere from $100-$1500, depending on the need for the money and your income and credit report. You should use this money for unexpected bills or expenses.

If you cannot repay the amount borrowed at the end of two weeks, most companies will extend the loan and simply tag on another fee to your balance. If you find yourself looking for a payday loan to cover everyday expenses, a payday loan is not the right choice for this. You will need to seek the advice of a debt consolidation professional.
About the Author
Mike provides information about getting a secured medical loans through his website about unsecured medical loans .
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