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Payday Loans Colorado Springs (CO) | Online Payday Loans Colorado

Online Payday Loans in Colorado Springs (CO)

Colorado is the state with varied topography, with mountains, plateaus, forests, deserts and great plains as its physical features. Its expanse makes it stands 8th among 50 states of the Union. The high mountains make people dream big and the topography tests the endurance of the people and make them strong. People are athletic and are fitness freak here, either they will hike or they will spend some time in gym. It is a home to many training centers for Olympics and houses Air Force Academy. It is a famous place for numismatic nerds, it has the headquarters of the American Numismatic association.

Living is an expensive affair these days. The people are transplanting here and this leads to rise in cost of living. There are many people who just exist and pull through the month, Yes, to live means to live your dreams, big or small. These dreams at times you want to fulfill even if you have to pay price for it. There can be dreams like, getting the room renovated, buying a new dress for yourself, arranging a surprise party for your loved one. All these can give you happiness and you cannot postpone happiness. These moments of happiness are sometimes cushioned by payday loans.

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What are Payday loans in Colorado Springs CO?

Payday loan is known by various names. It is called cash advance, short term loan, small dollar loan, unsecured loan and what not. This shows how popular it is!
Suppose you have a small gift store and whatever earning you make that is just sufficient to keep the hearth burning. One day their comes an order from a person that he requires 100 baskets full of sweets as gifts to be given as charity. You are happy and start calculating, the profit you can make but all of a sudden a thought crosses the sky of your mind and the chill runs down the spine, You do not have the baskets in full number but you have made the commitment to deliver. Then comes in mind the thought of payday loan.

There are reasons for its popularity

Pay day are speedy loans Yes! They are faster to match the need of the consumer. The formalities involved are minimum. You just need to be 18 years of age with regular income of $1,000 dollars. There are no long forms to be filled, no prior appointments to be taken. What is required is sharing of just personal information and the information regarding your employment and the paystub may be asked for as a proof for regular income. Once the information is verified you are asked for post- dated check if you are taking loan in person. Applying online loan is all the more easy. You can apply it anytime and from anywhere. You just need to fill the information required, once it is verified, the lender asks for payday account number and money is transferred. It is so easy. In traditional bank loan sanction might take a week or so whereas in payday loans, it takes just one business day.

No collateral is required that is why it is called unsecured loan. Some loans require collaterals which at times turns out to be a risky affair if the installment is not paid well in time.

No credit history required The lenders of payday believe that those who want to borrow money against this loan must be undergoing some economic stress and difficulty.They are not concerned with what happened in the past. Maybe during the struggling phase the borrower could not repay the money. They are just concerned with the present, If the person has regular income and has proof to show then, he is given loan,

Laws regarding Payday Loan

  • Maximum amount to be borrowed is $500 and the minimum term is 6 months. The lender can charge 20% for the first $300 dollars and $7.50charged for each additional $100 loaned.
  • The borrower can borrow as many loans as he wants, only the total should not exceed $500 at any given time. The interest rate has been caped to 45%.
  • The lender cannot sue the borrower on pretext of non- payment if he has not closed down his account. Thus the laws have safeguarded the consumers.

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Payday Loans in Colorado Springs CO Nevada Ave Colorado Springs, , CO, 80829
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