Instant Cash Payday Loan – No Bank Account Loans for Quick Cash

Getting an instant cash payday loan can go a long way towards helping you pay the bills that have been haunting you. Getting a no bank account loan for quick cash
is something that many bad credit borrowers are doing to help them pay bills and put a little bit of extra money in their pockets. Many financial analysts feel that getting a payday loan is a very bad decision but there are circumstances in which it could save you money.

If you know you have a bill that is due and if you do not pay the bill your service will be turned off a bad credit instant cash loan may be the way to pay that bill. If you have a cell phone that has a $49 activation fee for each time you reactivate the phone and you cannot pay the $60 bill you will not want to have to reactivate this phone again. If you know you will have the money with your next paycheck you can get a payday loan to pay the bill.

If you only borrow $100 to pay your cell phone bill you are likely to only pay between $10 and $15 in fees for this loan. That is much less than the $49 reactivation fee you would have to pay if your cell phone was turned off and you had to get it turned back on. You could end up saving almost $40 by getting a payday loan and paying it back.

The issue at hand is that you must pay the payday loan back with your next paycheck. If you do not pay the loan back with your next paycheck you are going to find that the $10 or $15 just doubled to $20 or $30 the next time you get a paycheck. Each time you get a paycheck you are going to find that this fee is added. If it takes you three paychecks to pay the loan off your fees could be $45 but that would still be less than the $49 reactivation fee.

Most financial analysts will say to never get a payday loan because the fees add up quickly and over half of the borrowers who get these loans do not pay them back with their first paycheck. If you know you can pay the loan off with your next paycheck and you have something that is going to end up costing more than $10 or $15 for every $100 then getting a payday loan might not be a bad option for you.
source:http://www.subprimeblogger.com