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Payday loans online bad credit -Find payday advance direct lenders

You may have heard about the payroll loan and you may not know exactly what it is. Payroll-deductible loans are an alternative to personal loans, which can be advantageous for some situations, but not for all cases.

Let us answer all these doubts. Read all the information and know the best option to get money at the moment you need:

Find payday advance direct lenders

The payroll loan is a type of loan granted by financial entities to persons hired with a formal contract, civil servants or INSS beneficiaries, such as retirees or pensioners. Therefore, when applying for the payday advance direct lender, the person needs to prove that he falls within one of these categories.  Find out if you qualify. The differential of payroll is that it is related to the income of those who ask for the credit: the value of the payment portion is deducted from the payment even before the salary falls on the account.

Because of this, the person who makes the payment is the bank where the salary or retirement is deposited. That way, there is no possibility to stop the payment.

What are the advantages and disadvantages of a payday loan?

Advantage: The institution that grants payroll deductible loans may offer lower interest because it is certain that it will receive later. Because it is programmed to be discounted every month, regardless of the wish of the person who took the loan and personal credit, the payroll loan offers the very little risk of default to the credit institution.

Disadvantages: If the person who took the loan has an unforeseen situation and needs to use all of their available income that month, for example, it will go into the red. This happens because the payment cannot be canceled for not even one month. The installment amount will be discounted before you can think of using the amount for other expense, even if it is urgent.

In addition, the employee of a private company who wants to apply for a payroll loan needs to apply for approval in the Human Resources area of ​​your company. There is a risk that the application will not be granted or that the value offered will be limited by the company.

Is paycheck credit an option in my case?

Is paycheck credit an option in my case?

If you can not apply for a payroll loan, do not worry, there are other forms of credit available. An alternative is a personal loan. It is a simple and affordable way to get money. And nowadays, companies do personal loan analysis online. For example, on the Solley website, you can do simulations, complete the application online and get the answer in a few minutes. If it is approved, you can have the money in your account in a few hours.

Another advantage of online personal loan is that it is less bureaucratic. Unlike payroll loan, when applying for a personal loan online at Solley you just enter your data securely and confidentially, and you do not need to provide proof or copies of documents.

If you are in one of the categories that can apply for payroll deductible credit, you need to review the payment terms and if you are willing to commit part of your income for the entire month regardless of what happens.

With all of this information in mind, it’s up to you to decide which one is the best credit alternative to having money at the time you need it most. The important thing is to have responsibility and planning so that the loan, whatever, helps you and does not become a problem in the future.