Getting a cash advance in Miami FL is often the easiest way to manage a lack of cash. After all, bill collectors and car mechanics can’t wait around until your paycheck clears, so a cash advance lets you handle any expenses that crop up. When you’re short on money, a cash advance can secure you financially until your next check comes in. Plus, since they are easy to obtain online, cash advances are more convenient than ever before. Apply today.
Advantages of a Cash Advance
The benefits of getting a cash advance are numerous. If you need cash in a hurry, a cash advance can be what stands between you and a car that can’t take you to work or your electricity being shut off. When you need money quickly, or you’re about to receive a late fee, then a cash advance is one of the best options out there.
Best of all, securing a cash advance in Miami isn’t a stressful or difficult process. In fact, you can even secure cash loans online. Instead of making an appointment at a bank and waiting weeks to get an approval for a small loan, an online cash advance can be completed in minutes.
Plus, a cash advance is typically unsecured, which means that you don’t have to have perfect credit in order to qualify.
Reasons to Get a Cash Advance in Miami
There is no shortage of reasons that you might need to apply for a cash advance in Miami FL. Every borrower has their own story, but there are certainly some common reasons to require a cash advance, just some of which are:
- Emergency medical expenses
- In need of cash for groceries
- Unexpected car payments or auto repair bills
- Christmas or birthday gifts
Securing Cash Loans Online
If you’ve been worried about the hassle of getting a cash advance, you’ll appreciate the simplicity of handling it entirely online. As long as you have a smartphone, a tablet or a computer and an Internet connection, you’ve got what it takes. Just fill in the required information and wait to confirm that you’ve been accepted for the cash advance amount you need.
Getting a cash advance in Miami can make a big difference in your quality of life, particularly when your funds dip unexpectedly. They can actually help you protect your credit report by giving you the money you need to pay bills on time and avoid costly overdraft or late fees.
About Miami, Florida
At the tip of Florida is Miami, the thriving and vibrant destination that boasts Art Deco architecture, a Latin American flair and plenty of nightlife on South Beach. Packed with white sand beaches and an impressive skyline, Miami boasts some of the most amazing views on the planet. Check out the stunning buildings around Biscayne Bay or Star Island, attend one of the world-famous festivals held there annually or soak up the sun thanks to a year-round warm climate, complete with towering palm trees at every turn.
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APR: The equivalent annualized percentage rate for payday loans and other short-term installment loans ranges from 547.5% to 999.45%, based on the amount and the length of the loan. Larger loans with longer payback periods have lower interest rates. While this sounds large, one must consider that these loans are only meant to be for a very small time-frame, usually 2 weeks. Annualizing other fees in the same manner results in APR of 2336% for a returned check fee of $32 against a $100 check, a 965% fee against a $37 credit card late fee or over the limit fee, or a 1203% APR for a typical $46 reconnect fee by a utility company.
Financial Implications: Short term payday loans are meant to be just that: Short term. Typical fees range from $15 to $40 for every $100 borrowed up to $500.00. Fees per $100 begin dropping on loans larger than $500.00. Fees are typically less than what borrowers can expect to pay for bouncing a check, having a utility disconnected, or paying a credit card bill late.
Collection Practices: Collection practices will vary from State to State and Lender to Lender. Some common methods if a loan becomes delinquent include, attempts at collections internally, primarily through telephone, an attempt to work out a pay-off arrangement that takes into strong consideration the financial condition of the borrower, and other internal attempts. Often, after all attempts at internal collections have failed, the lending agency may send the loan to a third party collection agency in an attempt to recover the funds lent in good faith, or may take other action within their legal rights. Check with your lender and your State regulations to be informed of the collection practices used by your lender.
Credit Score Impacts: Short term, payday loan lenders may rely on your credit report and are not limited to any of the three (3) major rating agencies – Equifax, Experian, or Transunion. Generally, the borrower doesn’t have to bear concern that their score may be affected by having the loan request determined by results from these agencies, however, such determination is solely in the discretion of the payday loan lender(s), which may result in the lender(s) submitting, among other things, the borrower’s request for the loan, or the subsequent payment(s) under the loan to any of these agencies. Short term lenders may also rely on their own scoring criteria, which is generally based on income and ability to repay, as well as the borrower’s payment history of any previous payday loans that have been made with the lender in question, or with other payday lenders.