PayDay Loan - Applying for loan

Here, we try to answer most questions about payday cash loans. A payday cash loan may be the easiest loan to get... but if this payday cash is something that you need the same day than you better be ready with all the answers... before you apply for this type of loan.

What are minimum requirements to apply?

You must be at least 18 years of age. You must have a checking account that has been open and in use for at least 90 days. You must deposit into your checking account a minimum of $1,000.00 per month.

What documents are required for application to be approved?

Here's the list of most commonly required documents:

• Copy of drivers license, State issued ID or Military ID.
• Copy of a bank statement within the last 30 days.
• Copy of a personal check marked "VOID".
• Copy of your most current pay stub.

Can I use my savings account instead of a checking account to get a payday loan?

Yes. Some companies will lend you cash if you have a sufficient balance on your savings account.

Do I need access to a fax machine?

Yes. Most online lenders do business by fax only. You must fax certain documents before your loan application can be approved.

What if I don't have a fax machine but still want to fax my documents?

You can use an outside fax service such as one in Kinko's or other. See payday loan with no fax to find a fax near you.

Is there really fax free approval?

Yes, a few online lenders offer "No faxing required" application. You will have to send all necessary documents via an overnight delivery service such as Airborne Express, FedEx, or UPS. The overnight delivery charge will be an additional expense for you. See payday loan online for more options...

Can I apply by phone?

Yes, with some online lenders. They will help you to fill out your application but you'll still have to fax the documents.

What if I don't have a copy of my bank statement but still wish to get my cash advance fast?

If you do not have your current bank statement than try to get it online at your bank's web site.

Is direct deposit required?

Yes, most online lenders will only process applicants who have direct deposit option with their checking accounts. Go to brick and mortar lender if you don't have a direct deposit set-up. ... Or see payday loan without a checking account for more options.

How long will the loan approval process take?

Remember, most lenders don't check your credit. All they are going to do is to verify your employment and run the Teletrack report on you. So, if they were able to reach your employer right away than you may get approved the same day. If you've supplied all necessary documents than approval will be a matter of hour or two.

What is Teletrack?

Teletrack is a credit agency that collects sub-prime consumer credit information. Loans like payday advance are recorded by Teletrack.

How do I receive my payday loan' cash?

With online lenders, your money will be transferred directly to your account. With brick and mortar lenders, you'll get cash right there.

What is the maximum amount I can borrow?

Many payday lenders allow to borrow up to $700 to $1000.

Do I need collateral to get a payday loan?

No. Your job is your collateral.

Can I get a payday loan if I have bad credit?

Yes, you can. Payday lenders don't usually check credit. Instead they run a check against the Telemark database to see if you already have any outstanding payday loans. You can only have one loan at the time. See payday loan with no credit check for clarification...

Can I get a payday loan even if I've declared bankruptcy?

Yes, you can. Payday lenders don't care about your bad credit or bankruptcy.

¢ Home

¢ Site Map

@ 2003  InfoWeb Inc - All Rights Reserved

Bad-Credit-Advisor.com