Editor's choice: Check Into Cash Payday Loan
- Safe, secure application
- Use the money for any purpose
- Receive funds as soon as next business day
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If you have less than perfect credit and find yourself in a financial emergency, you might be looking for an alternative to traditional bank loans. A payday loan, or cash advance, could get you through this rough patch, but understanding how these types of loans work is important. This guide will give you the information you need to make your decision. The most important thing to keep in mind is that a payday loan is a temporary fix, not a long-term solution.
Yes, cash advances, also referred to as payday loans, are legal in California. The California Deferred Deposit Transaction Law sets regulations that govern the functioning of all cash advance providers here. Some of the regulations include:
A payday loan, also known as a cash advance, is a short-term personal loan (typically $500 or less) that usually must be repaid in full within two weeks to a month. The repayment date is determined by your pay schedule. Because payday loans come with steep finance charges, it is not a long-term solution, but a temporary fix to an unexpected financial situation. Rules and regulations for payday loans vary from state to state, and are even not permitted in some states.
Here’s why California cash advance loans continue to remain popular:
If you get a cash advance in California, know that state laws have restrictions in place to protect the interest of borrowers. Here’s what you may have to pay in different scenarios:
You can apply for a cash advance online or by visiting a store. In both cases, you have to meet some eligibility criteria, which includes:
Completing the application successfully requires that you provide this information:
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