No doc payday loans

We at online pay day loans want to help you procure easy-to-get, hassle-free payday loans. We believe that this kind of service has always been necessary, today more than ever before. We all know our economy’s going through some difficult times, taking many hard-working, honest people along with it.

No doc payday loans may be the perfect solution to help you get out of a financial hole. We want to advise you, however, to be certain that you’ll have enough cash at your next payday to cover all your expenses and emergency bills. Payday loans can be expensive. The reason for this has to do with the difference between the APR, or the annual percentage rate, and the effective annual rate (EAR). This difference can be substantial because the EAR takes compounding into account.

Here’s why the APR and EAR can be so different. For a $15 charge on a $100 two-week (the average length of payday loans or cash advances, online or not) loan, the APR would be almost 400%. The EAR for a $15 charge on a temporary $100 loan would be over 3,500%. In the U.S., finance loans usually range from 15-to-30% of the amount for the two week period, which translates to rates ranging from 390% to 780% when expressed as an APR. I’m sure you can see by this why cash advances should be temporary.

The good news is that at least in the U.S., it’s really difficult to “flip over” a cash advance. Most states require that payday loan companies offer their customers an extended plan or even a payment plan to pay off their cash advances. The laws are such in this country that military personnel aren’t allowed to make payday loans, either.

There are unfortunately lots of unscrupulous payday loan institutions that want to take advantage of your financial downturn. We at online-paydayloans.net want to assure you that we’re not one of those companies. We provide a much-needed service, especially these days, and we want to help you solve your financial difficulties, even if it’s just temporary.