financial advice

Financial Challenges Got You Down? Payday Loans Can Help

Everyone experiences financial challenges from time to time. If anything, recently the number of people getting hit by financial challenges have only increased (thanks to the pandemic, if you get what I mean), leaving them scrambling for options.

Many have turned to quick payday loans as a means to dealing with their financial challenges – and for a good reason! Payday loans are accessible, easy to get, and fast. So, in certain situations, they could be a lifesaver.

But before you apply, do determine if the situation calls for them.

How Payday Loans Help With Financial Challenges

What Types of Financial Challenges Should I Get A Payday Loan For?

What you need to remember is that payday loans are still, well, loans. They’re not free money, despite being easy to get.

And adding to your financial obligations should never be your first choice of action.

So, what kind of financial challenges call for payday loans?

Consider two questions before you decide to apply:

  1. Is my problem time-sensitive? Will it escalate if not dealt with immediately?
  2. Will dealing with it become more expensive as time goes on?

If your financial challenges aren’t particularly time-sensitive and can be dealt with a little later, then your first course of action should be trying to acquire cash from avenues that don’t add to your existing financial obligations.

Tightening your belt and readjusting budget for the next few months (so that you can allocate more cash to the problem), working overtime to increase your paycheck, or even getting another job – like an online freelance, or as an Uber Eats delivery man, are all options you should look into.

However, if your situation worsens as time goes on – or if dealing with it becomes more expensive – then getting a payday loan, dealing with it, and paying the loan off after is definitely an optimal solution.

A toothache would be a good example. While a little discomfort is something you might think of as bearable and postpone your dentist visit in hopes of getting the cash together without adding to your debt, it may cost you more down the line. What could be a simple cavity that would take a dentist less than an hour to deal with, can escalate into an emergency root canal if unattended.

Medical bills, home repairs, car problems – are definitely on the same list of financial challenges you should prioritize dealing with ASAP.

person handing payday loans cash to help

How Can Payday Loans Help?

Emergencies happen, and when they do, having an emergency fund is essential. But what can you do if have no savings? Get a payday loan! Here are some of the payday loan benefits that make them an optimal choice in emergencies.

1. Accessibility

Anyone who’s over 18 and has some sort of income can be eligible for a payday loan. You do need a government-issued ID to prove your legal age, and an active checking account in your name to apply, however.

Which still makes it much more accessible than any other traditional loan.

2. Accommodating Terms

Fast Payday Loans Kentucky accommodates all types of income.

What’s more, the representative you’ll be working with will do their best to set you up with a comfortable payoff schedule. Do tell them if anything in terms makes you uncomfortable, and if it’s possible they’ll try to adjust the terms for you.

3. Easy and Quick Application Process

If your financial challenges are time-sensitive, the last thing you need is to get stuck in bureaucratic hell.

Unlike traditional financial institutions, complicated loan process is not something to worry about when it comes to payday loans.

All you need is to have the required items in order, submit a filled-out online form, and it’s smooth sailing from there.

The entire application-approval process typically takes around 30-45 minutes.

4. Not Influenced By Credit Scores

If your financial challenges have harmed your credit score, you might be worried about your eligibility for the loan.

While bad credit could decrease your chances of getting a personal loan, it doesn’t influence your eligibility when it comes to fast payday loans.

Getting a payday loan isn’t a problem even if your credit is bad – or outright nonexistent!

5. You Get the Cash the Same Day

Not only is the application process quick, but the cash you qualified for will be yours the same day you get approved.

Enabling you to deal with your financial challenges ASAP.

How Do I Apply For A Payday Loan in Kentucky?

If you’ve got the required items – your government-issued ID, your most recent pay stub, a blank check from an active checking account in your name – are in order, then you can easily start the application process online.

Go to the Fast Payday Loans Kentucky website and fill out the quick cash online form. When the form gets processed – it takes minutes – you’ll be contacted by a loan representative from your chosen location. They will provide further details and schedule an appointment for you.

Take the required items to the appointment for the loan representative to assess everything and determine how much cash you qualify for (you could get up to $500).

If approved – you’ll complete easy paperwork right there on spot and get the cash.

When faced with financial challenges, let payday loans in Kentucky help you get back on your feet.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.