Nowadays, there are plenty of ways to get money to pay for our comic book habits. With over 10,000 banks in the US (United States of America) alone, they are an easy way to get cash. A lot of people have asked us why an article about borrowing money is featured on a website about comic books. That’s a valid question, and we’d like to explain. As many of our longtime visitors know, this hobby can be expensive. We never advocate for someone to take out a loan in order to buy comic books, sometimes though it’s the only solution. Some have seen them advertise on the radio or on TV. Maybe they came across an advertisement on the internet or in the paper. Either way, there are many banks and credit unions out there to help assist individuals who are in need of it”. The government has been worried that banks are taking advantage of families that have low-income. The previously mentioned establishments respond by revealing that they are just assisting where there is a need for assistance. There are many FAQs as regards this topic, therefore let us get to it.

Frequently Asked Questions

What is referred to as a bank loan? It’s a high-interest short-term loan normally between the range of $50 and $500.

What else could it be called? It could be referred to as a deferred deposit check loan, check advance loan, a post-dated check loan or a cash advance loan.

Why would I need a short term loan? If you have an urgent financial commitment such as an emergency hospital bill or an emergency utilities bill, or an unexpected car repair or even normal expenses like gas, travel costs, or food.

What is the interest rate involved? This can be different from one establishment to the other, normally over 100% APR in cities like Saint Louis Missouri.

Will my credit be checked? No. There is no credit check for a majority of the bank loans.

Where can I apply for a credit union or installment loan? You can apply for one over the phone or in person at a branch, and a lot of establishments let you apply online as well.

How much time will the online application process take? Normally less than 20 minutes.

When will I collect the money? It will normally be directly deposited into your bank account in and around 24 hours.

Is there a down payment? No upfront costs exist for most loan applications.

Will they share my information publicly? No. The transaction is a private one, they won’t reveal your financial details with anyone. In fact, most states have extensive laws the control and regulate the sharing of private financial information. Find a company like MissouriPaydayLenders.com, and be sure the rates and terms are fair.

How much time do I have to pay the loan back? This is different from one establishment to the other. You normally will have to pay the loan back the next week, however, if you are not able to pay the complete amount the next week some establishments will let you rollover or extend your loan. This will normally mean more cost and more interest for you.

Are there other options available? You could borrow from a friend or family member. You could try to apply for a/another credit card or take out a conventional loan, or you could use a credit card, or you could try to take out a conventional loan or apply for a/another credit card.

Make sure you look into the establishment companies as well. There are a lot of people out there trying to rip you off. Much like what we see in the comic book industry, there will always be people looking to make a quick buck. If you are not sure about the company check with your community business review board or local BBB. They will tell you if this establishment is for real most times. Also be careful about the interest that you’ll be paying back on the payday loan. Ensure that you check the fees associated with the loan and constantly make sure that you have the required cash to pay it back.