It's Quick, Convenient, And The Requirements Are Minimal
Pay Day Loans cater to individuals who don't have perfect credit scores, nor do they have time to wait for days just to get approved for a Loan, especially when a Medical Emergency is involved. Instead, if the person has a steady job and proves they get a monthly or weekly salary, the biggest hurdle is out of the way. The process of qualifying for a Pay Day Loan is different from qualifying for a Typical Loan, mainly because the individual's job and salary are considered good enough collateral. A Conventional Loan, on the other hand, won't just take a lot of paperwork, but the institution will also look deep into credit history. The amount of time it usually takes to get a Pay Day Loan, from applying to getting the money, shouldn't take more than a day if you apply online.
Stay Realistic
Keep in mind that this money has to be paid back with the following month's paycheck, and the interest percentage is going to differ from lender to lender. In order to build or maintain a healthy credit score, the payment has to be made according to the prearranged date. The fact is that nobody sees a medical emergency coming. But it shouldn't mean a person has to be left stranded penniless in the middle of the month because of it.
