Why Shouldn't You Apply for a Cash Advance?There are many reasons why you shouldn't apply for a cash advance, one being the repayment requirements set by the cash advance company. If you miss even one payment, the repayment plan will get even harsher. You can end up paying interest rates of up to 30%. Of course, though cash advances are usually for small loans, there are some companies that will give you up to $1500 for a cash advance loan, and they will do so without a credit check; however, even these companies generally require you work your way up to $1500. They will first require you to take out a $100 loan, and then a $500 loan and so on, until you reach $1500. Most cash advance companies only require a valid ID and pay stubs, but others will require significantly more information, so it is always a good idea to call ahead and find out what you will need to bring before you head to your nearest cash advance store. Once you receive your cash advance, your money problems may be solved for a little while, but you will still need to budget your money to ensure that you make all repayments on time. Some people have ended up in huge mountains of debt because of the repayment plans that the company set up for them. They simply couldn't keep up with the repayments and ended up in a spiral of debt with no way out. Companies which set up unfair repayment plans are also generally the companies which don't carry out a credit check before granting someone a cash advance loan. Surely you can wait until payday for the cash that you obviously seek -- you don't want to have to get into any unnecessary trouble because of a cash advance.
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