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It seems to be the rare exception for people to do the legwork and research loan options during the good times when they are flush with cash. So most people find themselves at a site like this one on a day when they feel desperate for money.

But stop and take a few minutes to read up on good reasons to borrow money online, good debt versus bad debt and establishing a healthy relationship to debt. You may feel like you have a gun to your head, but you probably don’t. A few minutes invested in doing this right is an excellent investment in protecting your future.

Reasons You Might Want Or Need An Online Loan Same Day

There can be a variety of reasons you might want to apply for a loan online instead of in person. They can be broadly grouped as falling under one of these three categories:

  • Convenience.
  • Privacy.
  • Lack of other options.

Convenience in Online Application

Maybe you work from home and just do everything from home as much as possible already. Running errands in person may be a hardship.

Doing anything in person may be a big production. Applying online from home may simply be more in your comfort zone, logistically speaking.

Maybe it’s a long drive to the nearest lender. Or maybe you have a disability or a family member with special needs.

Going in person can be a deal breaker. Why not just apply online in such a situation?

Maybe you just have a super busy schedule. You simply can’t afford to sit in line and wait for your appointment.

Instead of driving there and sitting in line, you can start filling out an application right now from the comfort of home.

Maybe you work the night shift and sleep days. So it’s a hardship to visit the bank during normal banking hours. You would basically have to get up in the middle of your sleep schedule or go to bed late, missing out on much-needed sleep.

Instead, you can apply online whenever you feel like it. The internet is open 24/7.

There can be many different reasons why applying for a loan online from the comfort of home is simply vastly more convenient than doing so in person. Convenience may be the single best reason to want to apply online today.

Privacy in Online Loans

Taking out an offline loan can signal to other people that you are having financial difficulties. These are often rooted in other kinds of difficulties.

If you are in a delicate situation, you may not want others to know you are taking out a loan. Physically going to apply for a loan can signal to neighbors, coworkers or relatives that you are cash strapped.

It may tip them off to other things happening in your life that you don’t really want to discuss. It may prompt them to ask if you are finally splitting up with your SO or jump to conclusions that you have been fired from your job.

Even if it doesn’t clue them to real-life drama, it may start the rumor mill churning. No one ever wants to deal with that, but it can be worse in small towns or close-knit communities.

Lack Of Other Viable Options

Some states have laws that can trip you up when applying for a loan. For example, in Washington state, you need to show a utility bill to take out a Pay Day Loan.

But what if you don’t get a utility bill for some reason? What if you are renting a room and utilities are included? No, they won’t accept your mobile phone bill like a utility bill. They want something like electricity, trash, and sewer.

Or maybe you live in a small town and have limited options. Perhaps there are no local Pay Day Loan options. Or maybe your bank recently closed and you are needing to move banks soon, so you don’t have an established relationship with a local bank.

Whatever your circumstances, an online loan may give you options at a time and place where you otherwise couldn’t reasonably apply for a loan. This is one reason to love the internet age.

Good Loan Versus Bad Loan

Not every debt is created equal. One debt is good and another is bad. In order to avert financial catastrophe, you need to understand which is which before taking out an online cash advance.

Good Terms of Getting Online Loans

Obviously, you want the lowest interest rate you can find and for which you are qualified. Paying more interest is all downside. It makes the loan more expensive without doing anything extra for you.

You also want the repayment schedule to work well for you. If it does not line up appropriately with when and how much you get paid, this can create serious problems.

Always read through the fine print and try to understand the terms of the loan before agreeing to it. If there is anything you don’t understand, google it!

Especially when applying for an online loan, you can do that without worrying about what other people will think. No, you aren’t holding anyone up either.

Reasons to Obtain Online Loans

A good cash advance is about more than just the terms of the loan. It is also about the reasons behind your desire to procure a loan.

As a rule of thumb, good debt saves you more than it costs you. The interest pays for itself.

Historically, student loans and mortgages were widely viewed to be good debts. Well, we’ve seen where that got us. No particular type of loan is a good debt per se.

Student Loans

A student loan is a good advance when it will confidently lead to enough of an increase in income to more than cover the cost of the debt. It can be bad debt when wages are flat, the loan charges excessive interest or when any number of factors make the debt a burden that is greater than the asset of the education it helped you acquire.

Mortgages

A mortgage is a good debt when the real estate market is trending up and buying allows you to lock in a lower payment for years to come. It can be bad debt when the real estate market is tepid when you may want to move again in the near future and for a variety of other reasons that interfere with that exact scenario developing.

So it’s not just the type of loan you get. It’s also about the larger context in which that loan exists.

When People Decide to Apply for Online Cash Advance

Here are some scenarios that may make sense for you to take out a loan, even if other people might be critical:

Freelance and Gig work

You do gig work or similar and you need the money to keep eating well so you can keep working hard. The loan may allow you to earn enough to pay it back while living more comfortably today.

Going to a soup kitchen or food pantry may not make as much sense as just borrowing the money. If you have special dietary needs, soup kitchens and food pantries may not feed you appropriately. This can lead to health drama and medical bills.

Soup kitchens also may not make sense because they may conflict with trying to earn a living. Standing in line for potentially an hour or more three times a day is practically a full-time job in its own right.

This scenario may sound grim, but it is perhaps all too common in today’s Gig Economy. Don’t feel ashamed if you find yourself in this situation. Just work on improving your income so you are less likely to find yourself in this situation in the future.

Emergency Health Problems

You have a medical emergency and need to see a doctor. You need cash to pay co-pays and the like.

Putting off treatment can lead to bigger health issues down the line. Being healthy enough to keep working is one of the best investments in a secure financial future that you can make.

Don’t underestimate the value of your health. Delaying treatment due to a lack of cash is one of the most expensive decisions you can make.

Buying a new equipement

You need equipment to improve your earning capacity. Putting it off means passing up earnings.

Whether you own a small business or do gig work, having the means to make money is a good investment. If you live hand to mouth, it may be as simple as replacing your computer or tablet after something has gone wrong so you can keep working at all.

Don’t let other people make you feel judged. Do what makes financial sense for you.

Predatory Lending And You

We would like to help you find a loan, but we want it to be a loan that adds positive value to your life. We want it to be a loan that helps you improve your life and your finances, not one that simply bleeds you for someone else’s profits.

Predatory lenders are those that actively look to take advantage of people in difficult situations such that they remain trapped and dependent on getting more loans to survive. They want to make it easy to get the loan, but not easy to get completely out from under it.

They tend to charge high-interest rates, use aggressive sales tactics and have loan terms that don’t really help you resolve your problems. Think of, for example, phone companies who require a two-year contract when the phone will probably not last two years.

They will give you a new phone – at a discount! – on the condition that you renew your contract for another two years, knowing that this new phone probably will also not last two years. If you don’t renew, they will keep charging you monthly for a phone that doesn’t work.

They know you need a phone. They figure you are stuck and have no real choice.

How to avoid online loans bad lenders?

But there is always a choice. If it becomes clear to you that you are in a deal with the devil, you can set goals to eventually break the cycle. It won’t happen overnight, but it can be done.

When it comes to a cash advance, the best way to avoid being the victim of predatory lending is to understand when and why a loan is good debt and only take debt that will help you improve your future. As noted above, this is as much about the context for the decision as it is about the terms of the loan.

Borrowing money isn’t always the right answer for an emergency. If you are really in a pickle and the cupboards are bare, call 211 and find out if there are local food pantries, soup kitchens or similar emergency services that may meet your need without incurring new debt.

Do your due diligence and understand that lenders are in the business of lending money. This isn’t charity. It has to be paid back.

Make sure it makes financial sense to take out a loan and is something you will be able to pay back. That’s probably your single best insurance against ending up in a cycle of repeat loans, like a treadmill you don’t know how to get off.

How Can We Help You to Get An Instant Online Loan?

We help people connect with online lenders. We try to match you with a lender whose loan terms fit your needs, even if you have poor credit.

This allows you to be checked against a number of loan offers while only filling out one initial application in the privacy of your own home. We offer this service as a matter of convenience for people who have reason to prefer an online loan over going in person to a bank, Pay Day Loan place or another lender.

If you have done your due diligence and determined that an online loan is the right answer for you, you can start your application right now. Just apply here.

GreenPlaceLoans.com