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Tom is an educated, skilled professional who lost his job when his company downsized to meet the demands of the recession. During his unemployment, Tom had savings to cover his mortgage and most expenses. But he used his credit card for other expenses like groceries, Little League fees, and school clothes for his kids.
Recently Tom was rehired, is happy in his new job, and last week was sent on a business trip to meet with one of his new clients. The meeting went well––that’s the good news. The bad news? Tom’s trip happened during a bad winter snowstorm, flights were delayed, and Tom was stuck an extra day in his out-of-town location. That’s one more night in a hotel, and one more day of food on the road.
Tom gets a travel per diem from his company, and he knows he’ll be reimbursed…but not until his next paycheck, which is a week away. He needs cash now to cover household expenses for the week ahead.
Credit cards are not an option, as he maxed his out during his months of unemployment. He doesn’t want to burden his parents by asking them for the money, not to mention the possibility of inviting family gossip into his private life.
Lucky for Tom, he had recently seen an ad for a payday loan vendor. He had never considered this option before, but he thought, “What do I have to lose?” So he went online to do some research, and what he found out surprised him.
First, he found dozens of online vendors ready to give him a quick cash loan until his next paycheck. He could easily compare vendor against vendor to find the best rates and payment structure.
When he decided to apply, he filled out a simple online form asking for basic facts like his name, address, phone number and social security number. He also provided proof of employment with his employer’s name and phone number, as well as his personal checking account number. An hour later the lender had already verified his information, and made arrangements to deposit the money directly into Tom’s bank account. He would have the money he needed in hand within 24 hours.
Tom’s short-term cash problem had found its answer. And repaying the loan was just as easy. Tom arranged for an automatic withdraw from his bank account on his next payday––when he knew the money would be there. He didn’t have to worry about writing a check on time, or forgetting to send it, thereby incurring unnecessary late fees.
You may have a story like Tom’s. You may have one completely different, but for different reasons ended up in the same place—a hard working business professional who needs help through a financially difficult time. Take a lesson from Tom and research the advantages of a paycheck advance loan. It may be the answer you’re looking for.