Flex-Pay Your Way Out Of Debt

Not everyone in America lives with a flexible budget that can accommodate surprise expenses. Senior citizens who are dependent on monthly social security checks are just one of the many groups of people who can be blindsided by emergency repairs or unforeseen medical bills. When seniors are saddled with a bill a few weeks before their check is deposited, they might not have enough money on hand to pay their balance. For those seniors who need a little extra help, small dollar loans can be a blessing.

Short-term loans provided by reputable lending companies don’t require complex financial analysis. They provide a fast and convenient alternative to your bank, which can take weeks evaluating your current finances and credit score. Simply head to your computer and fill out the online application form to see if you instantly qualify. Not too tech savvy? Don’t worry. A direct online lender will also have helpful representatives waiting by the phone should you find it easier to apply that way.

An online lender should take a complex and bureaucratic process and make it simple and understandable. The company you choose should also encourage responsible borrowing habits. The loans they provide should only be considered a bridge between your social security checks, and you should never rely on your loans to make long-term goals. Like any other loan, the money must be paid back according to the contract that you signed. Always remember that you will need to pay back what you borrowed plus additional fees, so never borrow more than you can afford. While most states have Uniform Small Loans Laws (USLL), it’s still up to your discretion to ensure the lending company you choose follows them.

One way direct online lenders can follow these laws is to be a member of the Community Financial Service Association of America (CFSA) and the Online Lender’s Alliance (OLA). Their commitment to lending responsibility should provide you with options regarding your loan. Rather than force you into the same small dollar loan that every one of their clients receives, there should be flexibility regarding the term of your loan. Flex-play installment loans are an example of this. Instead of paying the loan back in one lump sum, payments are made over time according to an agreed upon schedule that fits your financial situation. You can link your payments to the days you receive your social insurance check, so you never spread yourself too thin. To make sure a direct online lender can offer these flexible payment schedules, do some research. Either search their website for information or speak with a representative on the phone. You can get installment loans from MoneyKey and a number of other small dollar lending companies. As a state licensed and secure option, they can provide healthy and responsible loans to seniors.

There are many reasons why you might take out a short-term loan. Being dependent on your social security checks is just one of the reasons why so many Americans are turning to small dollar installment loans. When borrowed from the right company, you can responsibly pay your bills (on time) without consequence.