Most payday advance loan options are not only confidential, they’re highly convenient. Consider the following scenario: it is entirely possible you may take approximately three to four minutes to fill out the payday advance loan application online.

After filling out your personal particulars, it can take all of 90 seconds for you to receive a clear and definite reply wherein your loan is subsequently approved. Afterward, your payday advance loan amount may be waiting within your checking account in a couple of hours. What could be more effortless?

Basic requirements in order to secure a payday advance loan

All that is necessary for you to attain a payday advance loan from the vast majority of payday lenders is a bank account and current employment.

In addition, reliable online lending sources that grant payday advance loans generally offer customer support so all your payday advance loan inquiries may be answered.

Laws governing the payday advance loan industry

State governments are responsible for the regulation of the payday advance loan industry. Although opposition exists to short term lending solutions in the way of the payday advance loan, in order to counteract the detracting viewpoints, lobbyists continually work on behalf of the payday advance loan industry.

Fortunately, there is currently a vast array of centers wherein payday advance loan funding is available. The expansive growth within the payday lending industry is due in part to the availability of loans over the Internet. Visits to payday advance loan sites have been quite significant: in fact there were well over 1 million visits to such sites this year.

The Payday Advance Loan site is always available

Payday advance loan sites naturally operate 24 hours, seven days per week. This level of convenience is highly advantageous to the borrower as applications may be submitted from the comfort of one’s own home environment and in accord with a person’s time.

Additionally, the payday loan advance is the short-term money solution as long as it is used correctly. The payday loan advance is most ideal in a situation where you need funds in order to address financial necessities from one payday to the next.

Easy application process

The ease of the application process is possibly the best attribute of the payday advance loan outside of immediate funding to your bank account. The application form is certainly not lengthy or “fussy,” and credit checks  are not necessary. Also, with short-term funding there is no longer any need to worry as to how you are going to financially survive from one paycheck to the next.

In other words, simply provide your information on the short application, and within an hour’s time your current short-term financial concerns may be over. Why not investigate how a payday advance loan will fit into areas where short-term financial considerations are preventing you from progressing within your daily life?

The way, therefore, to think of the payday advance loan and keep out of financial hot water is as a terrific temporary financial solution with regard to short-term financial emergencies. Emergency circumstances may include:

1. Automotive repairs
2. Medical-related situations
3. Gifts for anniversaries or birthdays
4. Unexpected financial losses, among other categories

You’ll not have the headache of filling out a lengthy application (as may be the case with some of the more traditional financial venues) and you’ll be able to secure the needed cash confidently and securely.

Additionally, if you are seeking a short-term loan by confidential means, nothing could be more ideal than the resource of the Internet. Many lenders who provide the payday advance loan as a solution for a borrower’s short-term financial obligations are standing by, willing and ready to serve you, 24 hours per day; seven days per week.

APPLY HERE for a Payday Advance Loan

Stores like this one won't be around in New Hampshire anymore.

Borrowers in New Hampshire will have one fewer source for payday advance loans after Advance America closes all 24 locations in the state. Last year the New Hampshire legislature passed a law that capped interest rates on payday loans at 36 percent, and that has now led to the store closing down in the state.

Trying to stay afloat

Advance America tried to save its business by offering short-term revolving credit loans, but the state Banking Department banned them from doing that, too. The company says closing their stores will put about 50 people in New Hampshire out of work, and it will cost the company $1.2 million.

It just doesn’t add up

The interest rate cap means that if someone in New Hampshire took out a $100 payday advance loan, the company could only charge $1.38. That simply wasn’t enough to cover the cost of operating the stores, so Advance America decided to cut its losses.

Comments a telling sign

Perhaps the most telling thing about this story is the comments section below it. Here is what a couple of readers had to say at UnionLeader.com:

I don’t think the politicians have any idea what it’s like to struggle in the real world; if they did they wouldn’t have all that free time to spend in Concord trying to help me. We are very concerned what we will do now if we need some cash for an emergency. We now have no place to turn.
-Mary and Tom, Manchester

Others expressed sympathy for Mary and Tom, who mentioned in their post that they had used a payday advance loan to fix their car and once to pay their rent.

Getting political

Some said the situation was the result of the government being too heavy-handed:

The “nanny state” likes to protect those who don’t take responsibility for themselves. They love nothing better than imposing their ivy tower liberal ideas on others and then pat themselves on the back for all the good work they have done at someone else’s expense.
- Greg Carson, Londonderry

Others viewed in in a financial light and responded with angry sarcasm:

So who is going to make up for the lost State and local revenue? Who is going to pay for the increase welfare rolls. Oh yeah, we will, you dolts. I hope everyone enjoys their tax increase.
- Anne H., Salem

Well, it seems people have pretty strong opinions about what their government is doing. Several other states have placed caps on interest for payday advance loans, so chances are we will be seeing more of this.

Robberies are happening at Payday Loan Stores

I’ve come across a lot of news stories lately about robberies at payday advance loan stores. Because of the nature of the business, payday loan stores have to have lots of cash on hand. This has made them popular targets for robbers.  Stores in Washington, Indiana and Iowa have been hit. Before this problem spreads, I think it’s time for action.

Payday loan store security

Most payday lenders already have the sense to make sure there is more than one employee in the store at all times. That is a good first step. But clearly that isn’t enough. Payday loan stores need to do more to protect their employees and their capital. Security cameras could help dissuade robbers or identify them.

Video surveillance could help

Video surveillance cameras have been shown to deter thieves and robbers in all kinds of businesses. The cameras should be visible, but high enough that they can’t be tampered with. Signs on the door informing entrants that there are cameras on the premises will help prevent robberies.

You may think that cameras won’t help in cases when the robbers wear ski masks or other covers over their faces. However, security cameras can verify a robber’s height, body type, clothing and other information that will help catch the criminals.

Things to consider

Payday lenders must be careful not to violate the privacy of employees or customers. Cameras should only be placed in public places, not in restrooms or other private areas. They also must take precautions to protect customers’ privacy and personal information.

Where are the suspects?

One of the main reasons I am advocating that payday advance loan stores ramp up security is that in the six robberies I have read about, police have only made one arrest. My suspicion is that more payday loan store robberies are happening because other criminals read or hear about the ones who get away with it. Copy cat crimes are common with many types of offenses, and I think payday loan store robberies are no different. Criminals are beginning to think that payday loan stores are easy targets.

Online payday loan stores safe and sound

Online payday loans stores have many benefits. Online payday loans are quick, convenient and they save the borrower the cost of transportation and the time it takes to go to a payday loan store. But another benefit that doesn’t often get talked about is safety. Because online payday loans stores exist only in cyber space, they aren’t targeted by common criminals with guns. This keeps employees safe.

Details on recent robberies

Probably the most disturbing chain of payday loan store robberies is the spree in Spokane, Washington. Apparently one man committed three payday loan store robberies. He robbed the same payday loan store twice in a little more than a week. He also robbed two stores in one day. So far, the police have no suspects. In Indiana, a pair of robbers hit two different stores in an hour.

Because of cases like these I think it would be wise for payday loan stores to develop a method for alerting other payday lenders in the area of robberies. Police need to put forth more effort to prevent these robberies, too. I would even go so far as to say that officers should monitor nearby payday advance loan stores in the event that a robbery is called in.

The ski mask: Helping criminals get away with robbery for more than a century.

Robbers across the country are continuing to target payday advance loan stores. The latest incident happened in Cedar Rapids, Iowa. According to The Gazette, two robbers armed with handguns hit up a Money Station branch right after the store opened yesterday.

Police are seeking male and female suspects, who are described in The Gazette article, and ask anyone with information to call 1-800-CR-CRIME.

Spokane spree

Last week two payday advance loan stores in Spokane, WA, were robbed within hours of each other on Jan. 29. Police believe the same person, a white man in his 20s, is responsible for both crimes. One of those stores was targeted just the week before, and police are seeking the same suspect for that robbery as well.

Police make one arrest in Indiana

Two stores were hit in one day in Indianapolis as well. On January 19 the same two men robbed two payday loan stores within an hour. Indiana police arrested one man in connection with the robberies, and they are still seeking a second suspect named Eric Edwards, 23.

The missing piece: arrests

So, between Cedar Rapids, Spokane and Indianapolis, we have a total of six robberies in about two weeks. We also have a total of one arrest. This is particularly discouraging in the Spokane case, where it appears the same man robbed the same payday advance loan store twice and got away with it.

The one that didn’t get away

Last year in Birmingham, Ala., police had a little help tracking down a man who robbed an EZ Pawn PayDay Loans store. In that case, employees followed the robber outside and shot at him. He shot back, but he was the only one who ended up in the emergency room later that day. I bet the money he stole from that payday advance loan store could have helped a lot with his medical bills if he hadn’t gotten caught.

Americans are already sticking their extra cash in the bank

It seems people in the United States are starting to learn their lesson, or trying to avoid needing another payday advance loan. The personal savings rate rose in December to 3.6 percent, the highest it has been since Americans got their stimulus checks last year in May.

The main contention congressional leaders have with the economic stimulus plan, currently under review by the Senate, is that the $500 tax credit for individuals will not help the economy. This pattern, Americans putting more money into savings paired with the fact that most stimulus checks last year seemed to be tucked away, presents some compelling evidence.

Will stimulus make a difference?

It’s true that the $500 tax credit is a different animal from the $300 to $600 stimulus checks individuals received last year. The $500 Obama is proposing would come to individuals gradually by taking just a little bit less out of each paycheck over the span of the year. Maybe for some this will mean they don’t need a payday advance loan, but the amount is so small it’s doubtful.

On one hand, it’s much easier to put money into savings when you get a chunk of it all at once, hence the jump in personal savings last May. Individuals might be more likely to spend the extra few dollars per paycheck because they think sticking a small amount into savings won’t make a difference. However, people are already saving more money rather than spending it, even without the extra help from the government. I’d say those who argue the tax credit won’t boost spending have a point.

Weigh in

So, if this bill passes with the tax credit in place, what will you do with your extra few bucks? Will you order a pizza once a month or get an extra shot of espresso in your latte? Or will you tuck it away in case of an emergency in order to avoid needing a payday advance loan? You can leave your comments below.

Reports of robberies at payday advance loan stores are flooding in this month. Just yesterday, Jan. 29, two separate payday loan stores were robbed within hours of each other in Spokane, Washington. One Check into Cash location was robbed about 1:30 in the afternoon, and another store from the same company was robbed at 5:30 p.m.

Yet another Check into Cash location was robbed the previous week, on Jan. 20. Police believe the same man robbed all three stores. In every case the man was described as in his 20s, white, 5′5″ to 5′7″ and wearing a black ski mask, black coat and blue jeans.

I guess the guy figured if he got away with it once he could do it again. Police are still seeking tips. If you live in the Spokane area and have any information call (509) 242-TIPS.

Indiana robberies

Payday advance loan stores in the Midwest are not safe either. In Indianapolis, Indiana, four payday loan stores were robbed within a week. The most recent robberies were Jan. 19, when two stores were robbed within about 45 minutes of each other.

Michael Orr, 20, was arrested in connection with the Indianapolis robberies.

During the week before those robberies two other payday loan stores were hit. The same two men are suspected of committing all four robberies as well as another robbery at an auto parts store. The police have one man in custody but are still seeking his alleged partner in crime. They are looking for suspect  Eric Edwards, 23, in connection with the robberies. If you live in the Indianapolis area and have any information, call 317-262-TIPS.

Why target payday loan stores?

In the past few years there have been countless reports of holdups at payday advance loan stores. The stores are targeted because they keep large amounts of cash on hand, much like banks. Unlike banks, however, security payday loan stores isn’t quite so sophisticated.

Luckily no one was hurt in the robberies in Spokane and Indiana. In 2007, a woman in Illinois was killed during a holdup at a payday loan store. She was working alone. Security has been tightened since then.  Still, if robbers are hitting up multiple payday advance loan stores in the same day, more needs to be done to prevent these robberies.

Unlike neighbors North Carolina and Georgia, South Carolina is out to show that payday loans can work well for their economy. Legislation being introduced in Columbia will not cap rates at ridiculously low levels or otherwise ban the loans, but improve the consumer experience when it comes to using the loans. It will protect them from themselves, but not in a way that takes away the bath because they could conceivably drown in the bathwater.

The proposed bill would limit consumers to no more than one faxless payday loan at a time for a max of $600 dollars. Moreover, lenders would be required to check a statewide database before signing anyone up for a loan. In addition, a percentage of loan fees would go toward operating this database.

A payday loan database

Speaker Pro Tem Harry Cato, who previously blocked efforts by banks and credit unions to put a stranglehold on the payday advance loan industry, is a definite supporter of the financial freedom the industry grants consumers. Of this database, he approves, saying that it “creates a mechanism to track and make sure they don’t have more than one loan at a time” and that it “should help break a cycle of debt” for those who abuse the product.

Yet the industry is lukewarm to the notion of such a master control. “The notion of a database can be a little bit like big brother,” says Jamie Fulmer of Advance America Cash Centers Inc. However, “if that’s what the Legislature wants, we will certainly be supportive of that rather than a ban.”

Helping consumers, helping legitimate business

South Carolina House Speaker Bobby Harrell probably puts it best in the Times and Democrat story when he’s quoted, “The point is there is a niche this industry fills and lacking this industry, people would go down to the corner in bad neighborhoods and borrow money from people… at considerably higher cost.”

The more payday loans come under fire, the more opponents unintentionally draw attention to the value of the product.

Related video

• CBS “Short-Term Loans Can Mean Lasting Trouble” Refuted (personalmoneystore.com)