Carolina Cash Fast

Convenience When You Need It

One big lesson that 2020 has taught us all is that the unexpected can happen at any time. The loss of a job or a medical emergency can result in a temporary financial crisis. So, where do you turn when this happens? Friends and family? Retirement Savings? Home Equity Loan? These are all excellent options, but what if you don’t have those options? What do you do then? There is one more option, but it has to be approached carefully.

Short-Term Loans

Cash Fast Centers offer quick, short-term loans to people who have run out of options. The process is short, and it doesn’t require a good credit score for approval. These loans are best used for temporary cash flow problems, not for ongoing needs. The fees and interest rates can be relatively high, and payback terms are short.

There are different types of loans available through the Cash Fast Center. The type of loan you choose depends on your assets and the amount of money you need. The first type of loan is called a title loan.

Title Loans

These loans are easy to obtain, but you have to own a car outright to qualify. The benefits of a title loan are no credit check needed and a quick process. You can get cash quickly. The cons of a title loan are a short payback period (usually less than 30 days) and the risk of losing your vehicle. The lender holds the title of the car (hence the name) as collateral, and if the loan is not paid, the lender keeps the car.

If you apply for a title loan for your car, you could receive approximately 25% of the car value. The amount of money you receive will [...]

By |November 23rd, 2020|Loans|Comments Off on Convenience When You Need It|

How to Borrow Money During a Crisis

When an emergency happens, you may not have enough money on hand to deal with it. Where do you turn? How can you get a loan that is fast and easy for a quick temporary situation? If you’re looking for a cash advance loan, there are still options available to you. You might be wondering how the pandemic is affecting the process. Are loans still available at the same rate and with the same terms? The answer is – thankfully- yes.

Cash Advance Loans

The next step is to determine which loan is right for you. There are usually at least two types of loans offered through cash advance loan centers: payday loans and title loans. To determine which one is right for you, read on. Soon enough, you’ll be on your way to getting what you need.

Payday Loans

Payday loans are the most well-known option. Vendors such as CashFast can offer a quick advance on your paycheck. Payday loans are often accessible to many people that might not otherwise qualify for a loan from a bank or credit union.

The drawbacks, however, are the interest rate and repayment terms. Interest rates are incredibly high, and – in some cases – the agreement may give the payday company the right to garnish your wages until the loan is repaid.

This option is best if you can repay the loan within 2-4 weeks; thus, the name “payday” loan. Payday loans help deal with short term cash flow problems (i.e., an unexpected expense occurring near the end of a pay period). It is essential to repay the loan quickly to minimize the interest and fees. If you’re not confident that you can repay a payday loan fast, then this may not [...]

By |November 9th, 2020|Loans|Comments Off on How to Borrow Money During a Crisis|

Can You Get A Title Loan On Any Vehicle?

Once in a while, an unexpected expense arises, and one has to get some cash quickly. So what do you do if that cash isn’t already sitting in a bank account? There are both traditional and innovative ways to handle this situation. One of those ways is through a title loan.

Car Title Loan

A car title loan allows individuals to get a loan with little hassle. This loan must be paid back within a month, but it provides a convenient solution for short-term monetary needs.

The title of a car, or another vehicle, is held by a lender to get a title loan. Any vehicle can secure this type of loan, including a motorcycle, truck, or personal car. As long as you have a valid and clear title, and the lender approves your application, you should get the loan.

A Life-Saving Option

In some cases, people can’t get traditional loans on their own. They could have a bad credit history or have made financial mistakes in the past. The good thing about title loans is that they don’t require good credit. Title loans circumvent the process of traditional financial and credit checks. Instead, your car’s title is used as collateral – a guarantee the lender gets their money back.

The Convenience of Title Loans

Many people try and plan out their finances to avoid debt and stay on track with their budget. Still, life does not always go according to plan. Anyone can have unexpected expenses that pop up and need to be paid right away.

Whether these are medical bills, legal fees, rent, or other payments, you want to have as many financial options as possible. Title loans are one way to get money fast during a temporary financial bind.

Repaying [...]

By |October 19th, 2020|Loans|Comments Off on Can You Get A Title Loan On Any Vehicle?|

What You Need to Know Before a Car Title Loan

Securing a loan can provide a vital stopgap measure for a home or business in times of economic crisis. Some loans can be planned for, and others might be needed quickly to prevent financial disaster. Unfortunately, few quick loans come without risks of their own, and those risks can bring additional financial problems if not approached carefully. A clear head and knowledge of the risks are essential when examining one’s options, especially if the family car is on the line.

Car Title Loans

Some fast loans require collateral, and one such type of quick loan is called a car title loan. The name comes from the person seeking the loan using their car’s title as collateral. However, these loans have their risks and should not be the first choice to handle a cash flow problem.

Car Ownership

Only car owners can obtain such a loan. The lender usually holds the car’s title until paid back, so the person receiving the loan has to own the vehicle outright.

Fees and Loan Terms

Another significant risk with such loans is high fees and the quick repayment, usually thirty days. Fees for car title loans are generally a quarter of the amount loaned, making a hefty payment once the loan is due. If the loan is not paid, additional fees can be added, and, ultimately, the person who obtained the loan could lose their car. Losing the car is the most significant risk of taking out a title car loan and why they need to be carefully considered. For many people, the loss of their car would be a massive blow.

Other Loans

Loans that can be obtained quickly often have high fees and require collateral, but there are alternatives to car title loans. Working [...]

By |October 5th, 2020|Loans|Comments Off on What You Need to Know Before a Car Title Loan|

How to Ensure You Have Cash When the Holidays Come Around

Every year, you might find that money is tight during the holidays. Keeping decent savings for emergencies and gifting or leisure might seem like a daunting task, but there are tried and true ways to ensure that you’ll be able to afford gifts this season.

Budgeting for the Holidays

Budgeting, at its core, is simple math and planning. Even when money is tight, there are many budgeting tips to help keep you on track financially, even during the holiday season.

The 50-30-20 Rule

First, figure out your income after taxes. If you pay taxes throughout the year, that’s great. You will likely be eligible for a refund during tax season. If you don’t, make sure you’re setting aside money frequently, so you don’t face financial strain later.

Once you know your income, a great practice is the 50 30 20 rule. Start by writing down all of your expenses, organized in categories of needs versus wants. The Needs will be payments towards rent, utilities, internet/cable, travel (parking, gas, car payments, train fare, etc.), groceries, insurance. Your needs should equal 50 percent or less of your income. If over 50 percent, consider places you can cut back. Be mindful about where you shop for groceries and what you buy. Junk food is expensive. Contact your loan servicer to discuss loan payment reduction opportunities.

Needs Versus Wants

Anything else is a want, and this can account for as much as 30 percent of your income. A budgeting tip to always keep in mind is: how can you reduce spending in this category? Can you get rid of subscriptions, cut spending on coffee and restaurants, or alter your lifestyle to benefit your bank account?

Savings

The last 20 percent (or more) should be saved. If you [...]

By |September 21st, 2020|Tips and Hints|Comments Off on How to Ensure You Have Cash When the Holidays Come Around|

How’s A Payday Loan Interest Rate Calculated

Payday loans are the easiest, fastest, and most convenient ways of raising cash when someone is in a tight financial situation. They’re easily accessible, and the lending requirements are relatively lenient in comparison to traditional banking institutions. This option is often attractive for users with bad credit scores and those who can’t find reprieve elsewhere.

Payday Loan Interest

But as with any loan, it’s essential to learn how interest rates work and how they’re calculated. Interest rates are the most important thing to look at when considering a loan. An understanding of how lenders calculate interest rates puts borrowers in a better position to negotiate or minimize the interest amount payable. For this reason, here’s some insight into how payday loans are calculated.

How do Interest Rates Work?

When a payday lender quotes an interest rate, they’re likely referring to the Annual Percentage Rate (APR). Generally, the interest amount payable is determined by three factors:

Annual Percentage RatePrincipal (amount loaned)Repayment period

For example, an amount of $1,000 with an APR of 120% and a three-month repayment will attract a total of interest of $206.33. But if the same loan amount under the same APR is paid with one month, the total interest payable will drop to $100. In other words, the three variables are directly related, and a change in one of them affects the interest owed.

What is the Typical Interest Rate on Payday Loans?

The Annual Percentage Rate for payday loans varies depending on the applicable legislation and the specific state. But based on the requirements of the Uniform Small Loan Laws (USLL), the average APR should fall somewhere around 40%—subject to other contributing factors.

Are Payday Loans Available Throughout the U.S.?

Different states have different regulations regarding payday loans. In some, [...]

By |September 7th, 2020|Payday loans|Comments Off on How’s A Payday Loan Interest Rate Calculated|

How Payday Loans Can Help In An Emergency

It’s normal for some people to find themselves short of cash towards the end of the month. Sometimes an unexpected expense happens. It becomes embarrassing to borrow when people know you have a job. If you ever find yourself in this situation, a payday loan might be just what you need. A quick payday loan saves you from the shortcomings of having to borrow from friends and relatives. For any of your financial emergencies, payday loans always swoop in to save the day. Below are different ways on how payday loans can help you out in a crisis.

Flexible Repayment Schedule

Taking a payday loan doesn’t mean all your financial troubles are over. While it might take you some time to get back on your feet, the payday loans will help push you out of a financial hole. The lender understands your situation, and this is one reason the payday loan comes with a flexible repayment plan. It’s upon you, the borrower, to schedule a payment offer that will stretch and cover the troubled times.

Quick Cash

When financial emergencies arise, quick cash is the only thing that can help you out. With payday loans, you receive money on the same day, depending on the amount and the terms for the specific money lenders. Some directories offer information about different lenders and their terms and conditions as well.

No Need to Worry About Credit Score

With payday loans, you only have to be worried about the terms and conditions of the lender. You don’t have to be bothered about your bad credit score. Payday loan providers only take into consideration the repayment plan. The lender doesn’t mind if you have a low or bad credit score as long as you [...]

By |August 17th, 2020|Payday loans|Comments Off on How Payday Loans Can Help In An Emergency|

Traditional Banks Vs. Payday Lenders

People in difficult financial situations—including those with bad credit—typically endure an uphill battle in finding viable financial solutions. In such cases, the most common options for short-term loans are payday lenders or traditional bank overdrafts.

Unfortunately, consumer advocacy groups tend to paint payday lenders as the bad guys due to their high-interest rates for payday loans. But by looking at financial data, this criticism is more-or-less unwarranted with what banks charge for overdrawn accounts.

The Hidden Truth of Traditional Bank Overdraft Fees

A rarely discussed topic among consumer advocacy groups is traditional banks raking huge profits from unscrupulously high fees on insufficient funds. According to data from the Consumer Financial Protection Bureau (CFPB), banks make more than $17 billion annually from insufficient funds and overdraft fees.

Unless consumers take an active initiative to monitor their bank accounts consistently, insufficient fund fees can quickly add to exorbitant amounts. For example, let’s assume that a bank charges an average fee of $35 for every transaction that exceeds the level of funds in a checking account. A slight $10 overdraft could result in a $35 NSF fee, equating to an interest rate of 350% (per transaction).

To make matters worse, news reports—and even lawsuits—suggest that some traditional banks purposively manipulate the system to claim more overdraft fees. The prevalence of these overdraft practices is reiterated by articles appearing in Forbes and ABC News. The subject of burdensome overdraft is even touchier today amid the COVID-19 crisis as banks capitalize on unsuspecting account holders to make huge profits.

The Less-Discussed Benefits of Payday Loans

Contrary to traditional banks’ overdraft facilities, payday loans are structured to be transparent and upfront with their fees. Sure, the interest rates may be higher than the average APR of credit [...]

By |July 20th, 2020|Payday loans|Comments Off on Traditional Banks Vs. Payday Lenders|

How to Pay for Supplemental Education

For millions of Americans, adult education paves a path to better opportunities and financial prosperity. But obtaining a traditional degree is resource-intensive—requiring a lot of time and considerable costs.

College Isn’t Always the Best Solution

Regarding the latter, The College Board notes that the average cost of obtaining a four-year degree has tripled in the last three decades. The solution? Find alternatives to progress career-wise—case in point supplemental education.

Find What Works Best for YOU!

A traditional degree is not the only rewarding option to achieve financial prosperity. Some lucrative non-degree programs include vocational training, coding boot camps, and industry certification programs. But just like degrees, sometimes it’s not possible to foot the entire supplemental education bill through investments or savings. Luckily, there are lots of options to get tuition money—as shown below:

Student Loans: According to the latest student loan statistics, 45 million borrowers in the U.S. account for a record student loan debt of $1.56 trillion. While this may be deemed a nationwide financial crisis, it also points to the lucrative nature of student loans. These types of loans often offer favorable terms—include forbearance, deferment, and flexible repayment plans. Student loans for supplemental education can be accessed through several lenders and private banks.

Personal Loans: People who cannot access student loans can fund their schooling with a personal loan. They are an excellent option for borrowers with a good credit score and sound financial habits. Depending on your lender (e.g., credit union, non-bank lenders, or commercial banks), it’s possible to negotiate flexible terms.

Applying for Student Grants or Scholarships: Although grants and scholarships are highly competitive, they offer low-cost financing options—especially for disadvantaged students. For example, there are several grants and scholarships for veterans, minority students, low-income students, [...]

By |June 22nd, 2020|Loans|Comments Off on How to Pay for Supplemental Education|

Should a Student Take a Gap Year Because of COVID?

COVID-19 has altered and affected the lives of people on the entire globe. A pandemic, the worst in over a century, has required every facet of daily life to adapt. Education has been an area, especially hard hit. Children can carry the disease without symptoms, and the risk of transmission for COVID-19 is high. So, schools across the world have closed down and switched to remote learning to provide education.

A Changing World

Higher learning has also had to adapt in such ways. Plenty of colleges offered online programs before the pandemic, but with campuses closing for safety, hundreds of thousands of students have found themselves taking courses entirely online. With the shift to online learning and the ability to access campus resources limited or restricted during the summer semesters, some students might question if they should take a semester, or even a year, off from their academic studies. High schoolers graduating and preparing for college may likewise ponder such a decision.

The concept of waiting a year to attend college after high school is usually referred to as a gap year, and, along with pandemic concerns, the idea has other benefits.  The most significant benefit is the chance to work to save and gain life experience before attending college. Such life experiences are often highly valued by college application programs. What career path a student plans to pursue is also a significant factor. Many careers can be followed by entering a trade school or gathering world experience. Electricians, HVAC, and the like are better studied on the job and at community colleges. It might be worth attending community college to take a few early classes and transfer them to save money.

Plan Carefully, Don’t Act With no [...]

By |June 15th, 2020|Tips and Hints|Comments Off on Should a Student Take a Gap Year Because of COVID?|