The Financial Emergency

First Choice Capital Resources recently assisted my family and me with a financial emergency that threatened to throw my entire household budget into a stressful mess. With my husband and I both employed outside the home and parenting three small children, operational vehicles are an essential. The cars we drive, purchased concurrently, began experiencing mechanical failure. The household budget already stretched tight from the recurring monthly bills, payments, and personal expenses incurred from financially supporting a family would not allow for this kind of cost. While we juggled the issue and tried to determine exactly how to handle the situation without defaulting on other obligations, the inevitable vehicle breakdowns occurred, and within the same week.

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The Search for an Immediate Cash Solution

We began searching for a way to receive immediate cash assistance that would enable us to pay for the car repair. Having heard of payday cash loans and other fast cash advances we looked into applying with several lenders. We discussed the terms, and conditions and had decided to compare a few lenders before actually signing any agreement. To apply to each individual lender one was time-consuming and did not always offer a positive outcome. After a few tries, we began running general searches for payday loan websites. In one of the searches we stumbled upon a company that offered a free matching system to help with finding a financial lender. Hoping that this was not a gimmick, we entered the website and found the services offered by First Choice Capital Resources include payday loans, installment loans, and even merchandise credit lines.

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On the website we learned that FCCR was a free service that matched customers with the financial lenders that were most likely to approve their application based upon the amount requested, the income level, and the checking account transaction history. We simply entered the information requested and within minutes FCCR produced a list of available lenders ready to offer their services. The best offers we received from the lenders were automatically determined and placed in the suggested selection. The FCCR service located the financial lenders local to our specified location of residence to ensure that the governing state laws would apply.

The FCCR Lender Network

The suggested lender list included options for payday loans, installment loans, and online merchandise credit lines. The terms and conditions were available for each financial lender, which gave us the opportunity to compare loan duration and finance charges. A range of $200 to $2500 loans and credit lines were available to us. We learned that the payments would automatically deduct from our checking account on the payment due date which would save us the hassle of remembering when to pay the bill. Depending upon what type of loan we chose to select, we could have our funds in a matter of hours. We decided to delve a little more into each option.

The PayDay Loan Option

The payday loan options offered were a little higher in finance charges than the installment loans, which is typical to most lenders. Additionally typical, any loan we received would become due upon our next scheduled payday. The terms varied from two to four weeks but a loan could renew if we made the request before the due date. Looking further into the loan re-newel, we discovered that lenders are required by state law to provide a certain number of extensions to their customers. Finding that an interesting fact, we pursued the subject and learned that the loan fee payment would still occur on the initial due date and an additional loan fee would apply on the following pay date. This option, while very helpful to a customer who needs cash immediately and has the ability to pay the loan in its entirety on their next pay date, was not what we were looking for. We needed a fast cash solution that would allow for a smaller monthly payment.

The Installment Loan Option

As with the payday loan options, installment loans offered a quick cash solution to our cash problem at a lower finance rate. The finance charges for the installment options proved to depend upon the term of the original loan and were typically smaller because of the longer payment arrangements. The loans offered by the chosen lenders ranged from six months to five years in duration, depending upon the amount of the loan requested. With our situation of needing enough cash to cover the expense of maintenance on two vehicles and our income already tied to a monthly budget, we decided an installment loan would serve us in a more practical way. The lender we chose obtained our information we had already entered and, with a little more detail provided by us, our loan received approval with great speed. Anyone searching for installment loans should keep in mind that certain lenders require a credit check and documentation of identity and income, but the effort is well worth the result.

The Merchandise Credit Line

Now that we had a piece of mind with financial assistance in the process of depositing into our bank account, I had the freedom to become curious about the credit lines. A selection of websites that were willing to extend credit for the purchase of their products had been included in the lender list. I was able to re-use the FCCR service to gain access to these websites to apply for credit. I discovered that over 17,000 products offered through credit lines had the easy purchase at home flexibility. After further investigation, I discovered a small membership fee payable after credit application approval would ensure that I could shop online with little to no down payment and zero finance charges. Minimal monthly payments would allow me to purchase the items I need while making affordable payments.

The Satisfaction of Using FCCR

We have successfully paid off the installment loan we received from First Choice Capital Resources and have received approval for two separate lines of credit for merchandise. If at any time in the future, we experience another financial emergency, we will definitely turn to FCCR to match us with a financial lender. Returning customers could possibly obtain discounts and deals from the chosen lenders and loan amounts could increase. Both, my husband and I, would recommend this lender-matching service to anyone in the market for a payday loan, an installment loan, or a merchandise credit line.

If you want to check out where I applied for my finance go here: First Choice Capital Resources

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