If you need help paying electric bills right now, you might consider applying for a payday loan or a cash advance loan. These are short term loans that can be used to prevent you from having your electricity turned off. If you get a loan like this, you can avoid paying a reconnection fee plus your overdue bill to get your service back.
The fees on these types of loans are fairly steep but they work as a short term fix. You can find these companies online. Find a company and apply online. You will need to show that you have a steady source of income, an email address and a bank account. If you are approved, you will typically get the funds with two or three days through direct deposit to your checking account. Do not keep this loan for a long period of time. The fees that you pay for it are excruciatingly high. You should use it just to help in paying your electric bill and keeping your service on. Pay it back within two weeks or three weeks. If you wait any longer you may double the amount you owe.
An example of the rates you will pay for a cash advance loan or a payday loan is $25 to $30 dollars for each $100 you borrow for two weeks. If you wait for one month to pay it back you will pay $50 to $60 for each $100. You get the picture. Use this money only for help paying your electric bill, short term. If you feel you cannot pay it back in two weeks you should look for another way to get the money you need. This may cause you to get in a debt cycle that you can’t get out of if you hold it too long.
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does anyone knows what the best place is to apply for this kind of loan, i need the money as soon as possible?
Hi pamela, i had to use it myself a month or 2 ago i applied for a 600$ loan and it was wired to me in just one day.. i know you can get up to 1500$ but i didn’t need that much. site called http://www.24hpayday.com