Everyone is not rich and world is not running with rich. Only 12 % of people in the world are rich. Rest 88% is either poor or middle class earning group. These are this middle class only which governs the world.
The dilemma of this world is this only that these 88% are the one who always fight with financial issues. They have faith, they have desire, they have dream, they have love, they have wants and all these need to be fulfilled. For its fulfillment one required money because the world in which we are living is economic driven world and it is money only which can drive you away to the apex.
But as said earlier the fluency of cash with his middle class section is very rare and one hardly find enough amount in the pocket to swim around this expensive world. They always run short of cash and for this they need cash advance.
In earlier days it was really hard to get cash advance as people had to follow many formalities and by mistake or any circumstance they tend to develop ‘bad credit history’, it turned impossible for them to take money on loans. With time requirement increased and applications of loans seeker also increased. Understanding the prospect of earning financial institution brought little flexibility in their loan taking formalities.
And later with many financial institutions coming into the competition, private lender also joining them loans taking just become a mere formalities which was just guided by an application form nothing more than that.
Now anyone who has a fixed source of income can apply for the loan. It is quite obvious that he will be 18 years and above and will surely carry a bank account. Almost all countries financial institution also asks or hopes the borrower to be the citizen of the same country.
These all were the pros section of the loans and followed financial revolution. However it is not always the case there are some cons too and it is my moral responsibility to discuss the same. If I am talking about cash advance, this means that you will be getting cash in advance and without any hassle. But make three points clear…
These loans carry higher interest rate
These loans are for short period
Unable to pay on next pay day attracts more interest and also deteriorate credit history.
I, off-course will not like mine article to end on negative note so one positive point that these loans can be easily accessed online by filing form and within an hour you can find the asked amount in your account in the form of cash advance.
Michel John is a well known Financial Consultant. He provide useful advice through his articles on Payday Loans and Cash Loans.