123 Money Help Review

123 Money Help Review123 Money Help says that you can get up to $1,000 and get approved the same day, and that they are a direct lender. This is an example of a lender that also offers other services like automobile insurance. They say that you can’t even get installment loans, making them a pretty versatile lender.

They say that if you are having trouble making ends meet they can become your reliable lender and help you when you have hit rock bottom. They claim to have helped thousands of people already, and that they will work hard if you choose them to be your lender. They say they do not offer payday loans or payday advances, but they do offer installment loans that are similar to a cash advance. Because they are a direct lender you simply have a two minute loan application and then they will give you a response, but that usually happens within 24 hours. If they approve you for cash you can have the money deposited into your bank account the next business day.

They also say that in most cases no faxing is required, but they will verify your bank account and you’ll need to have online banking setup in order to complete this process. They say that they do not perform credit checks the way the bank will, but that they will verify your information which will require your social security number. They also say that there is a chance that you could be instantly approved, and also that you may need to send information to them using a fax machine. They say that it could happen that you aren’t able to take out as much money as you originally requested, and they do point out that there is the possibility that they could decline your application if they find that you do not meet the basic requirements. Overall a pretty straightforward company so far.

123 Money Help Review – Max Amounts and Rates

123 Money Help has the maximum loan that you can take out set at $1000 and they have it setup so that there is a finance charge of $30 and that represents an APR of 782.14%. This means that if you take out $100 your finance charge will be $30, and your total payments will equal $130. As another example if you take out $500, your cash advance fee is going to be $150, for a total payment of $650. It would definitely be a good idea to find out exactly how much you are going to have to pay, and exactly on which days you’ll have to make your payments so that you don’t run into any problems or misunderstandings when you take out a loan with them.

Plenty of Information Provided
They have a very handy page that explains exactly how it works so you’ll know exactly what you’re getting into. They answer questions like what exactly an installment loan is, what you can use the money for, whether or not you need collateral, what the approval process is like, whether or not bankruptcy matters, and whether or not you can take out a loan with them if you have a loan out already with a different lender. This is important information that you will want to know, and they’ll even tell you exactly when you have to pay back your laon, and what happens when you pay your loan back early.

Requirements
123 Money Help has basic requirements of that are pretty standard in the industry. The first is that you have to be 18 years old or older, and you must make at least $1,200 per month. You must also have been employed for at least 2 months, so you are out of luck if you just started your job and are in need of cash. You also need to have been living at your current residence for 2 months, so if you have recently moved you won’t be able to take out a loan with them. And they need to be able to see that you received a direct deposit right into your account so that they know you won’t be able to take the money from your paycheck and cash it at the store.

Our Recommendation
123 Money Help seems like a reliable lender to go with and the requirements are pretty standard when it comes to online lenders. Because they have installment loan rather than requiring all the money up front, this could be one way to avoid getting caught in the payday loan cycle, and keep more of your money on your payday while still getting the cash that you need to handle your immediate financial problems.

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