www.faaastcash.com

1 | P a g e

www.faaastcash.com

2 | P a g e

Index

S.No. Page No.

1 Laws That Regulate Payday Loans in California 3

2 The Credit Building Benefits of a Payday Loan 4

3 Why Taking a Payday Loan Is a Better Choice 6

4 Four Situations Where Payday Loans Offer Secure Help 7

5 How Payday Loans Are the Best Aid in Emergency 8

6 Payday Lenders: Know Who You Can Trust 9

7 Top Tips to Follow When Applying for a Payday Loan 10

www.faaastcash.com

3 | P a g e

Laws That Regulate Payday Loans in California While payday loans can be very attractive to people with bad credit living paycheck to paycheck, it is still

important to be aware of the laws regarding such loans in California.

Here are some things to keep in mind before approaching a fast cash lender in the state.

Lender Requirements

California laws regarding payday lenders are

stated in Civil Code 1789.30 and Financial Code

23000. Payday lenders must be licensed in the

state and loan amounts must not exceed a

maximum of $300. The duration of the loan

cannot have a minimum length of time, while

the maximum length is 31 days. Lenders are not

allowed to charge over 15 percent per week and

must issue a written contract that explains the

terms and conditions, interest rates, and

finance charges.

Consumer Requirements

Payday loan rules for consumers allow only one

loan at a time in California. This means that you cannot apply for a second loan until the first one is paid

off. If you write a check that bounces, the lender is not allowed to press criminal charges but can charge

a collection fee up to $15 for the returned check. It is up to borrowers to understand the terms and

conditions described in the contract.

The Payday Loan Process

Applying for a payday loan is much simpler than applying for a conventional bank loan. There is no credit

check involved, as the main requirements are that you are at least 18 years old and have a regular job

that can be verified with paycheck stubs. You will likely be asked to provide your bank account number

so that on your next payday the lender can debit the amount due electronically from your account.

Payday loans can be used for whatever you want, whether it’s for emergencies, education, business,

gifts or vacations. These loans are designed to help people who may not qualify for bank loans or

individuals who do not want to deal with all the red tape that goes along with conventional loans. As

long as you are a responsible borrower, it can help resolve financial matters quickly.

www.faaastcash.com

4 | P a g e

The Credit Building Benefits of a Payday Loan Running out of money isn’t something that anybody wants to go through. When you have a job that you

work every single day just to keep yourself and your family comfortable, the process of actually running

out of money to do basic things like paying rent and utility bills is even more difficult to go through.

However, many people exactly face this, even when they’re employed. While the reasons people run

out of cash when they’re employed are too numerous to name, a lot of people are unable to pay bills

because of unexpected medical costs, car repairs and emergencies for their children.

If you find yourself unable to take care of some bills or pay for basic necessities like food, shelter and

utility bills, getting a online payday loan can be a great option. If you have a job, you’ll also find that

getting approval is easy since you’ll have a way to pay the loan back. Unfortunately, there is a stigma

associated with payday loans that deters people from pursuing them.

Whereas the truth is that getting a payday loan and paying it back on time can actually help you to build

your credit, which is something that’s very hard for many people to do. Whether you have a bad credit

and you’re looking to rebuild it, or you have no credit history and can’t get credit cards because of it,

getting a payday loan could kill two birds with one stone.

Repaying Loans Builds Credit

A lot of lenders who deal with payday loans know that their clients may not have the best credit. That’s

why they often protect themselves by reporting any sort of loan on your credit. If you don’t pay that

loan back on time, or you don’t pay at all, they will likely report this to a credit agency and it will become

part of your credit report, which is there to figure an overall score for you.

If you do pay your loan back on time though, many payday loan lenders will actually report that to

reporting agencies as well. For you, that can mean that your credit score might actually go up, because

www.faaastcash.com

5 | P a g e

taking out a loan or using a credit card and making your payment on time shows positive use of credit.

Whether you pay your loan off in full the first time a payment is due, or you just make the minimum

payment until you have more cash in your pocket, paying at least the minimum can help you build your

credit.

Just make sure that you pay at least the minimum payment each month and don’t fall behind. Ideally,

you should pay at least a little bit more than the minimum so you don’t pay more money in interest than

you really need to. That will save you money in the long run.

Size Doesn’t Matter

When you’re getting a loan and you want it to impact your credit positively, the size of the loan really

isn’t important. While you should obviously get the amount that you need to pay a bill or support your

family as needed, getting a lesser amount can mean less money paid back in interest down the road.

In terms of credit, lenders will report the successful repayment of a loan whether it’s for $100, $500,

$1,000 or even more. However, one thing that you should keep in mind is that the size of your loan is

probably a lot less important than the length of the loan.

If you’re really trying to build your credit with a loan, you’ll want to try and secure a loan of at least six

months. Repaying the loan, whether you do it over six months or a year or more, will be your best bet

for building your credit score since the lender will have more chances to report.

Mature loans also look better on your credit score and are often seen more like revolving credit, which

boosts your score the most. Just make sure you never a miss a payment, even for one month. Doing that

could ruin all your hard work.

www.faaastcash.com

6 | P a g e

Why Taking a Payday Loan Is a Better Choice

There are several options available to you if you are interested in using a loan to help out with

overwhelming expenses. One of the best options happens to be payday loans. There are three major

ways a payday loan is the better choice compared to other loans and all of them are explained below.

1. Payday loans that is cheaper than penalties

On top of trying to live paycheck to paycheck or worrying about bills, there are also fines and

penalties to worry about from the bank, utility companies, and so on. How can someone keep up

with all the fines? Payday loans are a great option in this scenario when they are cheaper than a fine

from a late or missing payment. Instead of being surprised with a fine and scrambling to find extra

money to pay it off, you will know upfront the payment amount for the payday loan. You can also

pay it off faster if needed.

2. Payday loans that cost less than bounced checks Happy lady with Payday loan cash in hand

Similar to late payment fines or other penalties, bounced checks are also

frustrating to deal with and come with a high cost. Your overdraft fees

become increasingly high if there are multiple bounced checks that mean

even more debt to pay off. There is a solution: payday loans are cheaper

than having to deal with bounced checks. The money is immediate and

can ensure you don’t have to pay overdraft fees.

3. Payday loans to avoid utility shut-off

Is the electric company threatening to shut off your power?

Do you have late payments for other utility bills? Payday

loans help in these times of need by providing immediate

cash. They can also be less expensive than having to get the

power back on after missing a payment. Most companies

will try to add a penalty or take a long time to bring back service.

www.faaastcash.com

7 | P a g e

Four Situations Where Payday Loans Offer Secure Help By now you have probably heard of a payday loan and are basically familiar with what they are. You

probably know somebody who has received one, and you might have even considered getting one

yourself. However, if you’re like most people, you probably don’t know when is the best time to

consider a payday loan and if it’s really worth it or not.

Use this guide to help you understand four of the most common situations people face every day that

can be quickly remedied through a payday loan.

1. Your Car Needs Repairs

If you’re like most people you rely on your car to get you to work and make sure the rest of the

family gets where they need to go too. So unexpected car repairs can be a major thorn in the

side, but one that you need to take care of right away.

Getting a payday loan can help you to pay for your car repairs, after which you can get to work

and earn the money you need to support your family.

2. Health Issues

Nobody wants to get sick, but it happens and one cannot skip it. Those doctor’s bills aren’t going

to pay themselves, either. Hence, getting a payday loan can help you pay your doctors on time

and get the treatment you need to get healthy and back to work ASAP.

3. Past Due Bills

Sometimes bills just creep up on you or get out of hand. But you don’t have to let your services

turned off, and pay for huge reconnection fees. Get a payday loan to keep your bills in check and

make payment arrangements with your utility or service provider.

4. Short Pay check

Whether you worked less hours this pay period, somebody made a mistake on your check or

they forgot your commission, a short paycheck can make it hard to do things like buy groceries,

make rent, mortgage payments, or pay for your car.

A payday loan can help you get the cash you need while your office straightens the situation out. After

all, not having groceries for you and your family just isn’t going to work.

So if ever loaded with household emergencies, do call us at FaaastCash for easy payday loan.

www.faaastcash.com

8 | P a g e

How Payday Loans Are the Best Aid in Emergency

The best aid in emergency: payday loans

Emergency money is needed in the face of any unexpected problem for example, car payments, medical

bills and the like. The payday loan is a quick, legal and easy solution to the everyday challenges in life.

The emphasis is on quick money

Sometimes, an emergency can only be solved with some quick money. At times, an emergency can cost

a renter the apartment, a single mother food for her children, a

sole breadwinner the car to get to and return from work. When

money is needed, it is usually required fast.

Try online payday loans

Shopping for payday loans online presents the opportunity to

compare fees and interest rates. An established online payday loan

provider can speed the entire process. As a borrower, you have

to complete an application online and provide the work details

and personal information required. The lender

deposits the loan amount into yours bank account by

electronic funds transfer. To repay the loan, you have to

do the same by transferring payment to your lender.

What are the eligibility criteria?

• You must show a verifiable income.

• You must be at least 18 years old.

• You must have an active bank account.

• Lenders may ask you for other eligibility requirements such as a minimum income or residency.

Keep payday loans simple

You have to write a personal check for the amount you need. The lender holds the check until the loan is

due on yours next payday and gives you cash. If the borrow permits, the lender can deposit the cash,

minus the fee, directly into your checking account electronically. The fees can be a percentage or a flat

fee for every increment borrowed. New fees are charged if the loan is not repaid on the next payday and

accumulate if the loan is repeatedly extended or rolled over.

That is it! Most loans can be arranged quickly in person, on the phone prior to arrival at the loan

office or most efficiently online.

www.faaastcash.com

9 | P a g e

Payday Lenders: Know Who You Can Trust It’s relatively easy to get a fast cash loan from a payday lender. However the trap is the money is so easy

to get in the trying times that it becomes very tempting for people to apply for these loans and then find

out that they are not able to repay the loan on time.

The problem here is that most of the payday lenders and their brokers usually overcharge from the

beginning. They may increase the interest rates as much as 800 percent if the loan is not repaid on time,

so beware of such middlemen and brokers. The best way for consumers to find a payday lender they can

trust is to do their own research and make sure the lender has a decent looking website, and read the

fine print!

Study Websites

If the lender who you are approaching does not have a website, then that’s a big red flag. Be careful of

local companies that do not have websites. It’s better to seek national lenders because they are easier

to be identified and researched online. Consumers can usually read more online reviews about the

national lenders. Look at their websites to get a

feel for how professional they are.

Stay with OLA Members

Credible lenders adhere to the guidelines of the

Online Lenders Association (OLA), which sets

standards for the lending industry. These member

companies will display the OLA seal to show that

they comply with the federal law.

Avoid Local Lenders

Be careful if the lender isn’t national because the locals are likely to charge a higher interest rate. Small

local lenders don’t always have strict guidelines. But at Faaastcash.com, we bring to you a group of high

quality lenders who have been tested and are trustworthy.

Read Terms Carefully

The terms of the lending contract must be clearly understood. It is important to avoid a recurring

payment plan, which gives the lender the right to take a payment whenever they choose.

So if looking for some last minute financial rescue, keep these points in mind and don’t fall prey to

unreliable payday lenders.

www.faaastcash.com

10 | P a g e

Top Tips to Follow When Applying for a Payday Loan When you’re coping with a bad credit history and need access to quick cash, a payday loan can provide

you with the funds you need to help you through until your next payday. However, there are a few

payday loan aspects that you should understand before signing up for your first cash advance.

Understand Payday Loan Purposes

Payday lenders provide fast cash to cover an unexpected financial dilemma such as to pay for an

emergency car repair or an urgent medical procedure.

If you’re looking for a little extra cash to help pay for your trip to the Bahamas or you’re yearning for a

pair of designer shoes that you can’t quite afford, save up money or borrow from a relative, but do not

take out a payday loan to cover these unnecessary purchases! Taking out a payday loan to purchase

nonessentials could cause you deeper financial troubles if you are unable to repay the loan.

If you are in fact applying for a payday loan to cover one of life’s emergencies, realize that most payday

lenders require that you repay the loan by your next payday to avoid additional charges.

Know the Qualifications

While payday lenders are willing to offer cash advances despite your poor credit score, there are some

restrictions that apply.

Firstly, you must be at least 18 years of age to qualify for a loan. Secondly, some lenders require that

you prove that you have a source of steady income, while other lenders may request evidence of two

months of employment history. Thirdly, depending on the lending company, the lender may insist that

you have an open and active checking or savings account. Finally, it’s a good idea to check out the the

rules and regulations concerning payday lending in your state before you apply.

Read the Fine Print

The Truth and Lending Act requires lenders to fully disclose information concerning the details of the

loan agreement. You should read the entire agreement to determine the fees, interest rates, and

deadlines associated with payday loans. The loan agreement will most likely also include information on

the actions the lender and borrower can take in case a dispute arises between you.

Understand all of these terms before signing up for the loan, and ask questions to clarify

details.

Need Cash? Get it immediately with a Fast Cash Advance!