It is already tax season and we here at simplycashadvance.com want to provide you with information about the benefits of Payday Loans over a new type of loan popular during this time of the year: Tax Refund Loans.

A Tax Refund Loan, or Refund Anticipation Loan, is a high-interest, short-term loan secured by the refund customers expect to receive after filing taxes. The fees charged by some nationwide tax preparation companies to prepare and file federal, state, and local tax forms are higher than what accountants would charge. Payday lenders like MyCashNow do not require application or account creation fees.

Customers receive the Tax Refund Loan prior to the IRS processing their tax forms. The loan amount usually covers interest and fees associated with the preparation of the tax forms. In some cases, when the IRS processes the tax forms, discrepancies between the loan amount and the refund estimated by the tax preparation companies may arise, forcing customers to pay back more than anticipated.

The IRS and some consumer groups have expressed concern about the possibility of some tax preparation companies using fraudulent practices.

Payday Loans continue to be safe and fast solution to immediate financial emergencies. When a customer applies for a Payday Loan, the customer knows the exact amount and date of his or her next paycheck, providing a better idea of the amount to borrow and the repayment date.

MyCashNow offers overnight deposit to most customers, 50% off the initial finance fee for new customers, and provides multiple benefits, like the Referral Program and the Preferred Member Rewards Program.

Returning customers can receive their loans within hours with the “My Cash Card,” a prepaid card that can be used anywhere Discover© Card is accepted. MyCashNow focuses on convenience, speed, security, and ease of application.

For more information about MyCashNow please visit www.mycashnow.com.

In todays economy families find themselves with less cash on hand for unexpected emergencies. Often living from check to check and hand to mouth. So what is a person to do when an unexpected expense arises and there’s no where to turn for help? Chicago is peppered with payday loan establishments that will give you a fast cash advance in minutes.

There’s been lots of hype about the actual cost of a payday loan. Some people have even complained of paying upwards of 500% for their instant cash advance. In reality, the interest rates are more in line with a high interest credit card if you pay the loan back promptly.

Fast cash payday loan interest rates are regulated at both the Federal and State levels and require complete disclosure of the interest rates you would be charged. However, only short term (120 days or less) payday loan agreements are regulated.

Different fast cash advance companies charge different rates. It is very important you read your contract BEFORE you sign and you won’t find yourself caught up in a neverending cycle of high interest. So, how do I get my cash now?

First thing to do is call around and ask what are the terms of the loan. Secondly, read the paperwork and make sure the interest rate disclosure for your cash advance is the same you were quoted over the phone. Don’t sign a contract that allows payments to be made in more than 120 days out. This will back you with the protection in place by governmental agencies.

Most importantly, be prepared to pay back your payday loan within the next two paychecks and you find that a fast cash advance loan may be just the thing to smooth over what could have otherwise been a catastrophe without getting too deeply caught up in the credit game.