A Solution to Getting a Low Risk Cash Loan in Escondido

When people are need of fast cash, they often consider payday loans as a source of instant financing. These loans are easy to get and don’t require any sort of credit check necessarily, however, they do ask for your bank account information to redeem the loan amount plus interest on your next paycheck deposit.

This easy money is basically an advance against your next paycheck. You give the payday lender your pay stub as proof of income and tell them how much you want to borrow. They give you a loan for that amount, which you're expected to repay when you receive your paycheck, along with the payday lender's fee of at times up to 400% in interest.

A great alternative or solution for desperate times would be to consult with a collateral loan lender that will offer cash in exchange for something of yours that is of value. When you bring an item to a pawn shop, the pawnbroker assesses the item's value and offers you a loan equal to a certain percentage of the value. Then offering a short time period to repay the loan with interest.

When paid back, the pawnbroker returns the item. However, when the borrower doesn't pay back on time, the pawnbroker owns the item and tries to sell it for a profit. None the less, pawn shops will often extend contracts and work with the customers, where the payday advice model continues to debit your account whether or not the money is there, therefore, posing a higher risk.

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