Payday loans may be the only option if you encounter certain emergencies in the middle of the month. If your car breaks down, you will need to fix it right away since you will need your car to go to work and other places. You cannot wait until you get paid at the end of the month before repairing your vehicle. After all, no one likes the inconveniences created by long hours on a bus hitching rides with colleagues. If you have a medical emergency that your health insurance cannot cover, you cannot wait until your next payday. You will have to get that health problem treated right away. If you get a notification from your utility company that your internet, electricity, or gas are about to be shut off, you must rack up the money to pay the bills even if you do not have the money. Many unexpected expenses may pop up within the month. These expenses may come up especially when you do not have money, and your savings cannot support you. You may need money for even food, and your fridge may be empty.
If you have any of these issues, we can help you out. We can connect you to direct lenders who will grant you loans. Our lenders make it easy to get a payday loan. You can apply from the comfort of your home, office, or any place provided that you have access to a computer and internet. Our website is designed in such a way that you can complete the loan application without visiting any lender’s office. A visit to our site is just like a visit to the lender’s office.
Our lenders offer the best payday loans because our lenders respond promptly to the request. Our lenders are also direct lenders, so you do not have to deal with intermediaries. Intermediaries charge agent fees when the loan is approved. We do not want the borrowers to pay extra fees before obtaining the loan. Our lenders do not base their approval decision on your credit score. However, the lender may run a brief check on the borrower’s financial history. Even though these checks may not affect the borrower’s credit score, some lenders do it to know the borrower’s credit background. Borrowers should also note that applying for a loan permits the lender to run those checks.
You may be wondering if you qualify for a payday loan. Although our lenders may have different requirements, some requirements are requested by all lenders. You should be an American citizen, and you should have a government-issued ID card. Our lenders grant loans to only people who are 18 years old and above. At this age, the laws of the land allow you to take decisions without the consent of a guardian. A potential borrower should also be able to provide his or her social security details. You should also be able to provide a reliable phone number and email address. Your contact details are essential because the lender will need to contact you during the loan process. If you are not reachable, you may delay the application process.
You should also have a steady source of income to qualify for a loan. This requirement is one of the most critical requirements to the lender. This is because the lender wants to confirm that you will get the money to pay back the loan. With payday loans, the lender is at great risk because the lender does not request for collateral to safeguard the loan. The lender’s only guarantee will be the proof of the borrower’s income source. You should also have an active bank account since the loan will be paid into your account when it is approved
Some borrowers are reluctant to provide information when it comes to loan applications because they do not want to compromise their privacy. With us, you do not have to worry about the security of your information. Our website features advanced data encryption technology that protects your data at all times.
The process for the payday loan is straightforward. If you can provide the requirements mentioned above, you can fill out the loan request form. The lenders will go through your request and send their proposals to you. Any lender who sends in a proposal is indicating that he or she is willing to fund your loan based on the terms mentioned in the proposal. You can take time to analyze all the proposals and choose the one that will be most convenient for you. Ideally, you should base your decision on the amount the lender is willing to give you and the interest rate. The amount the lender is willing to grant is important because not all lenders are willing to offer you the loan amount you requested for.
When you are sure of the lender you want to proceed with, you can contact the lender. The lender may request for additional documents, and when you provide them, the loan will be approved. It is essential to cooperate with the lender if you want to receive your funds on time. If you do not provide the requested details on time, the loan application may delay. When the lender approves your loan, the lender may ask you to sign the loan form via an electronic platform. The loan will be paid into your account as early as the next business day once you sign the form.
Our lenders do not restrict how you should use the money. Once the money comes into your account, you do not have to provide explanations on how you used the money. You are also not forced to use the money in a way our lenders will suggest. You can use the cash in any way you want. We only advise that you do not spend the money lavishly. Spending the money that way will make it difficult for you to pay back.
Our lenders see to it that they clarify every detail concerning the loan. They will discuss the administration fees as well as the interest rate with you. They will make you aware of all these costs before the loan is approved. Our lenders do not charge any hidden fees. You will be able to calculate the total amount you will pay at the end of the loan term. Since it is a payday loan, the lender usually expects you to pay back on your next payday. If you cannot pay back the entire amount by the next payday, you should opt for an installment loan instead. The borrower can pay back the loan in installments for a given period (usually 12 months or more) if the loan is an installment loan. There are also payday installment loans where the borrower can payback installment for 4 to 6 months.
It is essential to pay back your loan on time since defaulting on your loan attracts late fees. Late fees are usually high. You may also lose the opportunity to obtain a loan the next time you need it. Some lenders also report to the three main credit agencies. They may choose to report late payments, and this may affect your credit score. Our lenders make the repayment of loans as easy and convenient as possible. You can pay the loan directly into the lender’s account or set an automatic payment system that will allow you to pay the loan on the due date.
Many people prefer online payday loans compared to traditional loans. This is because payday loans are convenient. You can easily access a payday loan in one business day. You do not have to fill out a lot of forms to obtain a loan. With the traditional loan, you also have to wait for several days for the loan to be approved. With payday loans, there is no paperwork, and you do not have to visit the lender’s office to get your loan approved. You also do not need to meet lots of requirement to qualify for a payday loan. Online payday lenders do not request for collateral as well. If you need the cash urgently, the best option will be the online payday loan.
We will also like to inform borrowers that we do not have any influence over the lender’s decisions. If the lender decides not to approve your loan, you can talk to the lender to seek clarifications. Even though we work with these lenders, we cannot provide explanations on your loan status.
Payday loans are short-term loans, and they should only be used as a long term financial solution. You should also desist from the habit of regularly supplementing your income with payday loans. Taking payday loans on a regular will incur more debt for you since the interest rates are relatively high. It is okay to take out a loan to deal with an emergency, but when you decide to take such loans every month, you may get stuck in a debt cycle. If you need a long term financial solution, you can participate in credit counseling.
Although we vet all our lenders and see to it that we only work with legal lenders, there may be rare occasions where you may encounter illegal lenders. We want to alert you on the signs to spot a scam lender. Such lenders may request for cash before they even begin the loan request process. The truth is that when you give them that cash, they will not grant you any loan. Hence, you should not pay any money to a lender before they approve your loan. These scam lenders may ask you to pay the administration fees before they grant the loan. You should quickly identify these lenders as scammers. A legal lender will add the processing fees to the total loan amount.