Some days are easy while others are not. Life has its own ups and downs, yet there are ways one can deal with each. On days when you are running short of money, you either turn to family, friends or closed ones for help. But there are times when asking them for help too is a non-option. There are many sites that come to the rescue at such times and help in securing instant loans in the shortest time.
Overview
Moneymutual is one such site that helps people in the time of a cash crunch. When the pay day is a long way ahead and there is a sudden need for instant cash, these sites help you to get in touch with the right lenders. The steps are fairly simple. You log on to the moneymutual site, fill up a form that records your details and your instant cash requirements. The details hen are passé don to the various lenders registered with them.
And the lender who agrees to consider your requirement is forwarded to you. Then you get in touch with the lender and the lender checks your creditworthiness. After which the lender makes the decision of giving you the cash or not. As soon as approved, the money gets transferred into your account within 24 hours. On the next payday, your loan amount automatically gets deducted from your bank account and your account with the lender and the lending agency is settled.
It is a great way to get instant cash in the time of a money crunch. It may be a medical emergency or an unexpected bill or an unforeseen event that requires you to pay instant money. The payback time is a period of till your next pay check, but the urgency of the situation is taken care of.
Advantages of moneymutual
The one major advantage of moneymutual or the likes is that it helps you save the day. Without having to overstress about the situation, there is an instant relief that helps you deal with the situation in a calm and composed manner. Let us look at the major advantages of using such a service.
- Instant money – A friend in need, is a friend indeed! Such a service is like a saving grace in a difficult situation, jus t like an ‘instant money friend’, who is there for you, every time you are short of cash. The cash gets delivered to your account within 24 hours, thus helping you salvage the situation, the best.
- Simple! – The online form to be filled for the initial money request is too simple to believe. Just fill in your personal details and your requirements and you are sorted. It is only a matter of hours (sometimes even minutes) before you get a lender who is ready to lend you money!
- Instant approvals – The requests do not take time for approval. The response time is quick and you don’t have to wait for hours and days to just get a response on your request.
- Many lenders – The moneymutual service enjoys a great network of lenders who are ever ready to lend cash to borrowers. Since there are over 60 lenders registered with moneymutual, there is never a dearth of lenders and there is no chance that your request will go unanswered due a lack of lenders in the network.
- A good amount – Moneymutual is a lender that promises as large as $1000 at a time, in case of emergencies. An amount that is hardly promised by any other lending agents, it is a high sum for considering instant cash loans and their response time.
- Credit extension – There is a possibility of requesting an extension of the credit period. Lit is on the discretion of the lenders to either extend the credit period or not. Many a times, the lenders agree to an extension, with a higher return cost to the borrower.
It can be difficult to plan all your expenses in a budget, let alone emergency expense that uncannily crop up every now and then. A service regularly used by many, lending agents ar ea great hit among the instant gratification generation of today.
Disadvantages of moneymutual
Every coin has two sides. Looking at the positive side, often results in one overlooking the negative. Though there are many benefits of using a lender agent’s services in times of need, there is also a need keep caution. Before getting into the mode of instant cash loans, you should make sure that you are well aware of its evils too. Even when taking advantage of Moneymutual, one of the most popular sites in this segment, it is necessary to keep the following in mind:
- Repayment cost – Moneymutual does not have a specific repayment rate and thus there is a great deal of fluctuation in the interest that is charged by different lenders. The information about the approximate repayment costs and interest is no where indicated on the site, and thus results in lack of right information being passed on to the borrowers.
- High interest – As the response rate from the lending gents and the lenders is the fastest possible, many a times, the interest rates are as high as double the principal amount borrowed. Though not all may be as high, the rates are still higher than the other loans available in the market.
- No credit period – The payback time is very less. As soon as the next pay check is deposited in your account, the borrowed sum with the interest money gets deducted by moneymutual to pay back the lenders on time. A specific request needs to be made to the lenders in case the pay back is difficult even at the time of the next paycheck.
- Credit habit – One may get hooked to getting instant cash loans on a highly regular basis because of the instant gratification. Though not an issue with moneymutual per say, it is essential to keep in check the usage of such services and make sure that one does not start overly relying on the same and develop a habit of taking credit for every financial need.
Conclusion:
When used wisely, such services can be of great help and can help salvage a situation which has a potential to otherwise go drastically wrong.
Log on to https://moneymutual.com/ to get instant cash.
Call 800-741-3300 for online support.
E-mail at customerservice@moneymutual.com to get in touch with customer service executives.