1. What is a Payday Loan?
A payday loan is a cash advance on your salary which is usually between $100 and $500 or more, depending on the lender. It is a short term loan that gives you extra cash before payday.
2. How do I get approved for a payday loan?
It's quite easy! You only need to:
be a citizen or permanent resident of the US
be 18 years old and above
have a take home pay of at least $1,000 a month net of taxes
have a permanent address and contact numbers at home and at work
have a valid email address
have been with your current job for at least 90 days.
3. How much cash can I borrow?
The usual loanable amount ranges from $100 to $1,500. The amount you can borrow depends on the lender who is matched with your application.
4. How do I receive the money?
Your cash advance will be deposited directly into your checking amount after your loan is approved.
5. Can I still qualify for a loan even if I have a bad credit score or even if I had declared bankruptcy?
With payday loans, your credit score does not really matter. You will not go through a credit check, so negative credit feedback from your previous creditors will not affect your application.
6. How long does it take to get the loan processed?
Your loan is processed as soon as you submit your application online! Most loans are obtained the next business day after application.
7. How much are the loan processing fees?
Since cash advance payday loans are meant to help you with your emergency cash needs, the fees charged are usually lesser than late charges and check fees which may result from late payments. The fees vary, depending on the lender assigned to you. You will be notified of the exact amount of fees upon submission of your loan application.
8. Do I need a printer or a fax machine?
Yes, you would have to print out your loan documents, and the lender assigned to you may require you to fax in other documents such as your recent bank statement or pay slip, which are needed to process your application. There are places you can go to such as Kinkos, Office Max, Staples, and Office Depot that offer printing and fax services.
9. How do I repay the loan?
Your loan payments and fees are automatically debited from your checking account on your loan due date. You don't have to go to the bank or somewhere else to make your payments. If you are still short of cash, notify your lender before the due date and ask from a loan extension. However, you may have to pay additional fees for extending the loan.
10. What happens if I can't make my loan payments when they are due?
That's easy! Just request your lender to give you a loan extension long before the due date. Some lenders waive the additional fees for extending loans if they are notified of the extension before the due date.
11. Can I still apply even if I have an outstanding cash advance loan?
Yes, of course! Be sure to disclose details of your outstanding cash advance loan on your application form.
12. How soon can I apply for another loan?
You can apply again after 3 days! If you have already been approved for a loan, make sure to add that information when you apply again.
13. How do I renew or extend an existing loan?
Simply contact your lender on the email address or phone number given to you. You can directly ask your lender any information relevant to your loan application, including the approval process, cancellations, payment details, renewals and extensions, etc. Make sure to submit your extension requests before the due date of your loan payments.
14. Do you share my private information with anyone?
We adhere to strict client confidentiality, and any information you provide us is encrypted securely to keep your privacy. You can read our Privacy Policy for more details.