Payday Loans in California:
Nickname: The Golden State
Population: 39.56 million
The most populous state in the country with around 40 million of people, California sounds like a paradise for many. Crowds are attracted by breath-taking cities and coastlines, the unique atmosphere and laid-back lifestyle. Unfortunately, with such a thoughtless behavior this place provokes, guys started to have troubles as the balance of money flow and expenses is quite a complicated thing sometimes. To maintain the certain level of living, many citizens need payday loans in California.
If we take a 100 as a price for a decent being in the USA in average, California is going to be 168.61. That is pretty much. The most expensive spheres are housing, health and food. For a studio in California one gotta fork out $1156 against the US $821. For a one room flat a guy must empty his pockets for $1358, which is ridiculous, as in any other part of the country no one will ask for more than $930.
No wonder that with such conditions some groups of nation need some backup to live the life to the fullest. California poverty line is 15.1%2. That is not the state with the biggest amount of poor people. Nevertheless, 1 of 6.6 has to exist, not to live as a person is supposed to. Such people have nothing to cover their bills with and get deeper and deeper in debts. Thanks to the law, payday loans are legal in the state.
The history of payday loans in California – how does it start?
The history of payday loans California does not have many differences with other states. At first, there were businessmen who tried to run their own business giving a hand to others to make ends meet. People are still coming to California for a better life, they have always been immigrating. Everything began as a lending with a hardly affordable rates. Lenders cared about only their benefit, no one thought about working men trying to feed their families. Such guys had to take those risks and were losing their houses and other valuable belongings. A few dozen of bucks or one-two hundred could set the limits and be a reason for a dreadful and fatal twist of fate.
The sphere was in a mess until the Consumer Credit Sourcebook set the strict rules and regulation about each small detail of borrowing money3. Now each firm has to obtain a license and prove that it can provide people with a highly qualified service, not dig them further into the bottom. Now a client cannot be charged more than he was supposed to at the very beginning. Wherever you go – to the huge bank with a great reputation having been built through years or a small office around the corner – law will protect you.
In past men, who were responsible for giving credits, gave any sum of cash almost to everyone – nobody asked for a prove that a guy who take it can repay. Now the stuff will consult a person and pick up the most suitable schedule of payments for the proper amount of money. A client is well aware of any kind of fees, so no more pennies come like a bolt from the blue.
The brand new sphere of online loans California is slowly gaining its popularity within people. Online payday loans in California are as well absolutely safe to use.
Why choose payday loans in California – are they the best?
Well, at least in California such kind of lending is legal, while in some other states getting the desired one or two hundred bucks for a new tiny cute thing for a house is a real energy sucker. In some parts of the country it is allowed to get only big sum for a long period with all the necessary processes of credit checking. Thanks to payday loans California, a person does not have to get more rattled until the approval comes.
Have no willing to get big amount of money? One or two hundred can patch the hole in a budget? Great! In about 10 days you will be free from your debt by covering it, but your purchase will still be with you! Sometimes we need a few more to buy a plane tickets to the destination of the dreams or to repair some vehicles.
Life requires quick and instant decision off and on.
Online payday loans California are ready to send paper source of living to your card at once, within a few breaths. If a mistake was made in past – well, some bad things happen from time to time. There is no traditional bank, which would give cash without some inspecting of the history. Payday loans California no credit check are there for everyone! One can have a 255$ California payday loan with a maximum rate – the sky is the limit right now.
Such loans can’t be the lighthouse of your life. They have their downs – huge APR, crazy cost of a credit for some guys and other. The final decision is yours – make a list for all the possibilities and stop your eyes on the very one that suits you best of all.
Guides to payday in California cities – where to go?
The government words are one for every dense populated or barely alive place in this sunshine piece of the country. Whatever human settlement a traveler will head his feet, he will find the perfect solution for the problems have gone out of the blue.
Payday loans in Los Angeles, California – are everyone happy with them?
It is sad, but truth, now guys are obliged to leave aside all the praise words about the city of angels and look at it with another angle. Los Angeles is on the tenth place in the list of the most expensive American cities4. Payday loans in Los Angeles (CA) make it bearable for 15% of people below the poverty line. The cost of living is 17% higher than in other pieces of land. Every month the kind family of adults and their two kids have to shell out $7, 691. Count in housing, food, clothes, medical care and other necessities, everyone will understand that the tiny average wage can hardly make ends meet. It is too ridiculous to cover these points and, for instance, some emergency situation’s expenses.
Payday loans in San Diego, California – is the situation better there?
A little bit better, yeah. With Los Angeles on the tenth place, San Diego occupies the thirteenth place in the same list. With monthly living cost of $8, 129, which is bigger than in Los Angeles, the amount of guys who have to linger their miserable existence is lower, it is 12.3%. With the poorest salary of operation manager of $43 000 to maintain the decent level of live there is impossible. Payday loans in San Diego (CA) get such families the life even at the end of the month.
Ask this question 9,4% of San Jose citizens living below the certain line. Payday loans in San Jose (CA) have been on their side for a long time. This city is unbelievably 27.1% more expensive compare to the whole residence of Uncle Sam. Four people included in a family have to say goodbye to $10,758 every month just to stay afloat on the surface of cruel surroundings. Such a family spends on food around $900 every month minimum.
On the other hand, the poverty figures here is one of the lowest in California.
Payday loans in San Francisco, California – how do people live in this city?
Every 8.6 person is unlucky in San Francisco5. Might seem quite high, nevertheless, it is one of the lowest rate in California, so dwellers there are quite lucky, as weird as it sounds. Well, the job is to convince them. Payday loans in San Francisco (CA) are busy every day. Someone has to take additional money to fill his lives with something outstanding and unusual. Others just need to eat. The financial situation can change really fast and unexpectedly. Even if a family has enough to maintain your existence, it might need more to make it more comfortable.
Payday loans in Fresno, California – what about smaller cities?
Fresno is not the most crowded place, though it has more than half of million guys. The poverty statistics is extremely high, it is 28.4%6. That is quite a pain in the neck for officials as many people suffer and struggle their way to human way of life. The situation shows no single tend of changing, unfortunately. Until then, payday loans in Fresno (CA) are gonna be the only source of heart beat for almost one fourth part of the inhabitant.
Payday loans in Sacramento, California – what to have in mind there?
Many big cheese economists are trying to figure out what is the reason of such a high poverty figures in reports of one of the most warm and beautiful piece of the country. There are various suggestions for that and specialists are doing all they can to push figures to fall down. But right now payday loans in Sacramento (CA) is the lifejacket for more than 95 thousand people out of almost half of a million living there7.
An analysis of payday loans in California – what do we have?
According to some statistics, one out of twenty people in California a year take payday loans in California as they set their minds on fighting for their place under the sun. Some of them are longing for the extra cash to get through until the next paycheck or until they find the proper job8. Every year this industry brings its owners almost three billion dollars. Some families has no idea of lives without a short-term addition to the budget, so no transaction fee for online loans or tricky rules of interest rates can scare them off. Twenty five per cent of borrowers took ten or even more loans in 2017. It is obvious that this sphere is popular among citizens.
Despite of the fact that government protects customers at an impressively high level, there still are some offices, which can break the law and leave a poor man or woman with nothing but depression and self-loathing. Be careful when signing the agreement, be sure that all terms are clean.
A client has a choice from 1 705 licensed lenders, so you are sure to have a proper one if care about making efforts to look through some options and compare them. With the APR of 460%, if someone takes $300 he will end up with the obligation to pay $1,380. With figures as crazy as these, it if worth to spend an hour or so to find the best option.
California payday loans rules and regulations – what laws do guys have to follow?
Luckily for the majority of Californians, both California payday loans online and typical small loan offices at the corner of the nearest supermarket have the legal right to run their California cash advance business and provide the guys in need with happiness and the feeling of satisfaction of their lives.
Do not lose yourself in thoughts about a new car, be more down-to-earth and check if a lender has a license – that is a compulsory condition for working. Taking money from unlicensed suspicious black market folks can be too risky and it will definitely drag into troubles and make moving on streets unbearable. The maximum amount one can take is $300 for no longer than thirty one days. The minimum time is not regulated, so it is up to a man to decide, just make sure it will not be more than the permitted amount of days9.
Supposing a client need $100 for the special gift to his girlfriend on Christmas, he is gonna be charged $17.65 provided it is taken for a fortnight. Keep it in the head that it is illegal to demand more that 15% per week for any loan. APR is 459% for a $100 for 14 days.
If some lenders – online or in a shop, it does not matter – demand something beyond those rules, contact California department of Business Oversight.
California rates and terms – make sure you know them all beforehand
Besides all the conditions that have been mentioned above, a client must know that there are some California payday loans limits set in the state. Their aim is to guarantee that people will not fall into the debt pit and to make sure clients will handle their income and expenses with care and responsibility.
Only one California cash advance can be received by a person at once. A guy must fully repay his debt before taking another one that means that no rollovers must take place. Everyone is advised to follow that rule, otherwise you will break the law, which will only add troubles, not get you out of them. Keep an eye on the bank account – no one wants to be late on the payment as it leads to problems you will definitely like to avoid.
To make it easier for people to cover their debts, there is a service of repayment planning, which might be really handy if you take a loan for the first time or unsure about how to organize the expenses.
California payday loans restrictions – what should not be done?
Everybody knows that online payday loans in California have the certain collection restrictions. Do not be surprised when asked to give away $15 for non-sufficient fund for the return of a check. Gladly, criminal deeds against the borrower are prohibited, provided a check that has been returned due to insufficient funds.
Of course, do not forget about the restriction of the amount and period when planning the budget. There are some badass guys who are gonna tempt everyone with tiny fees – ignore them. There ain’t no such thing as a free lunch.
Consumer protection in California – should people be afraid?
Whatever form of loans a person take – physical or online payday loans in California – a customer is fully protected10. As it was said above, any criminal actions are against the law, so you should not be terrified to death of collectors. Consumer protection bureau is closely watching every lender. It is currently taking measures against the lenders demanding 400% of the interest rate and more.
One of its initiative is to make lenders make an acquisition of data of their clients. They are not supposed to serve guys who obviously have no single chance to return them in time. That is why the more convincing arguments of your salary you will give the more chances you will have to receive bucks.
How do I apply for a payday loan in California from mypaydayloancash – some instructions.
Getting payday loans in CA state is a piece of cake. Just fill in the form on the website or in the office of the provider you have attentively chosen before and that is it! You can choose no credit check loans or usual ones, online or offline, wherever you are. You must be of age and it would be wonderful if you have some papers that will prove your solvency.
For obtaining online cash advance California just find the reliable website and follow the instructions. The money is yours within fifteen minutes!
Actually, no. Once you attend the lisenced firm, everything is gonna be great. Just have in mind that offline or online payday loans in California are not the only possible solution to your problem. Sometimes it is better to go to traditional banks or get credit in the shop where you buy your new TV or smartphone. Talking to friends and family also should not be counted out. Who would care about you more that the best friends or parents? They will definitely not ask for some interest rate percentage as the only thing they are interested in is your well-being. Taking some extra work can also be great as it will give you more experience and can show you from the good angle.
All in all, the final decision is always yours. There are pluses and minuses in every option, so think of the best possible variant and stick to the plan. Of course, if you take loans seriously, nothing bad will happen to you. However, it is in the human nature to get attracted by money without thinking of consequences. People who got trapped in debt never endless circle thought at the beginning that everything would be fine. Think for a while and make the right decision! Good luck!
The money solutions are available in many cities and towns, such as: Los Angeles, San Diego, San Jose, San Francisco, Fresno, Sacramento, Long Beach, Oakland, Bakersfield, Anaheim, Santa Ana, Riverside, Stockton, Chula Vista, Fremont, Irvine, San Bernardino, Modesto, Oxnard and Fontana.
1. Bestplaces. “Cost of living in California”. Bestplaces.net. Accessed June 23, 2019 from https://www.bestplaces.net/cost_of_living/state/california
2. Welfareinfo. “Poverty rate in California”/ Walfareinfo.org. Accessed June 23, 2019 from https://www.welfareinfo.org/poverty-rate/california/
3. Citizenadvice. “Payday loans after the cap”. Citizenadvice.org. Accessed June 23, 2019 from https://www.citizensadvice.org.uk/Global/CitizensAdvice/Debt%20and%20Money%20Publications/Payday%20Loan%20Report%202.pdf
4. USAtoday. “What it actually costs to live in America’s most expensive cities”. USAtoday.com. Accessed June 23, 2019 from https://www.usatoday.com/story/money/2019/04/04/what-it-actually-costs-to-live-in-americas-most-expensive-cities/37748097/
5. Welfareinfo. “Poverty rate in California San Francisco”. Welfareinfo.org. Accessed June 23, 2019 form https://www.welfareinfo.org/poverty-rate/california/san-francisco
6. Welfareinfo. “Poverty rate in California Fresno”. Welfareinfo.org. Accessed June 27, 2019 from https://www.welfareinfo.org/poverty-rate/california/fresno
7. Welfareinfo. “Poverty rate in California Sacramento”. Welfareinfo.org. Accessed June 27, 2019 from https://www.welfareinfo.org/poverty-rate/california/sacramento
8. Calmatters. “Predatory payday lending in California”. Calmatters.org. Accessed June 27, 2019 from https://calmatters.org/articles/predatory-payday-lending-california/
9. Consumercal. “Payday loans rules proposed be consumer protection agency”. Consumercal.org. Accessed June 27, 2019 from https://consumercal.org/payday-loan-rules-proposed-by-consumer-protection-agency/