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Welcome to Loans Lowell dot Com a Lowell city in Massachusetts USA. Here we are pulling together lots of information and resources about all sorts of loans and finance information.

Whether it be student loans or auto loans, business finance, bank loans a home mortgages or even a holiday loan to an exotic destination we hope our site can provide you with some useful information that enables dreams to come true.

YES of course the world economy has been very difficult , even bad for some home owners and businesses throughout 2009 culminating in bankruptcies, bad credit and all sorts of poor credit ratings. Combined with a continuing difficult economy the banks and lenders are now more concerned than ever about lending money to the wrong person. Pay day loans won’t fix everything are certainly not the world’s financial woes , however here in the USA they are great for helping people who find that they need just a little bit of extra cash to last them until payday.

We invite you into Loans Lowell dot Com to take a look around and see if there is something here for YOU. [Next]

How to use a payday loan
If you are a week or two away from payday and need cash urgently, then a payday loan might be the answer. Payday loans are short-term loans that give you the money you need until you get, at which time you have to pay the money back. Payday loans are also known as cash advance loans or cheque loans. If you are in need of cash before payday, then this guide can help you to decide if payday loans are right for you.

How much can I borrow?

The amount of money that you can borrow is usually quite low, because the loan is for the short term and you can get it quickly. Somewhere between $50 and $400 is the usual amount. The way you get a loan is that you write a personal cheque for a certain amount of money plus the fees, and then the lender will give you that money in cash. The lender will hold the check until your next payday, and then if your situation is better the lender will cash it in. If you still cannot pay, you can pay more fees to keep the cheque held for a few more weeks.

What are the advantages and disadvantages?

The advantages of payday loans is that you can get hold of urgently needed money very quickly, which can get you out of a tight financial situation. The loans are also useful for people who have poor credit and so find it hard to get other types of loans or credit cards. The loans are good if you know you can pay back the amount in a few weeks when you get paid.

The biggest disadvantage of payday loans is that the fees are very high. Normally you will have to pay around 10% or more of the cost of what you borrow. So borrowing $100 is going to cost you ฃ110, or even more if you keep extending the borrowing time. You can also end up in a vicious cycle where each month you run out of money too early because of having to pay the original loan back. Payday loans should be used as a last option, or if you know that this month is an exceptional month and you will be back on track afterwards.

What are the alternatives?

There are a number of alternatives to payday loans, especially if you have good credit. You could use a credit card to pay for the things you need and then pay this amount off at the next payday. Although credit cards have fairly high interest rates, if you know you need more than a few weeks to pay back the amount then this interest is cheaper than a payday loan. If you need more long-term help with debts or lack of money, then a personal loan might be a better option, as long as you can afford the repayments. If you have poor credit, then a payday loan is often the best option because there is no credit check. The only information that needs to be verified is your current employer.

If you are struggling for money before you reach the end of the month, then you should look at payday loans as an option to help ease your short-term financial pressures. However, you should make sure that you only borrow as much as you can afford to pay back next month whilst still having enough to make it to the next payday.

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