Can You Have More Than One Overnight Cash Loan?

It is not surprising that many people who need an overnight cash loan for either an emergency or just to keep the electricity on, have a recurring problem. Each month when the bills arrive, there never seems to be enough money to handle everything. The problem is persistent and solving it is not impossible, but it does take some effort.

We all run a little short once in a while. Whether it is to replace the water heater in the winter or an air conditioner during the summer, the need is the same. There is enough money to pay the bills but not any extra for these emergency necessities. It's a matter of not having enough cash at the right time, a problem even more intense for those folks who work on a more seasonal routine.

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Contractors who are busy all through the spring, summer and most of the fall find it difficult to make ends meet during the winter months. They saved some money but it's often not enough to get them through until the frost melts.

Teachers, on the other hand, find it difficult during the summer when the school year is out of session and they don't receive a paycheck. Yes, some do have an option to get paid on a 12 month schedule, but that means each month there is less money to pay the bills.

These and many other professions find themselves in the same bind. To solve the short-term problem, they go to an online paycheck loan company and secure a paycheck loan, enough to handle their emergency until next payday. But when the same thing happens the following week, the solution is not so easy.

Most companies will not allow a second overnight cash loan until the first one is paid off, but they will, in many states, allow the borrower to rollover the loan for another two weeks, or whatever the terms of the quick cash loan were at the time it was borrowed. The borrower will still have to pay the additional interest, but that is a lot less than the entire loan balance.

A simple example would be that if you borrowed $500 on a paycheck loan advance with a fee of $67, and you rolled it over for another pay period, all it would cost you is an additional $67 for the interest or fees, which ever they call it.

Of course, there are other alternatives to a rollover that can save you money. There are many people who need to do this every month and their methods have been gathered from experience. Finding the best loan choice for your needs will make life simple and easy.

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