Credited to last at least two months can apply for a loan. It also means that applicants must be over 18 years given that he has a job – and yes applicant for the loan must be a legal resident of the US. How Does One Get Payday Loan? Well, to get a payday loan, a person must qualify in the first place. Become a viable means to be eighteen years old and above, hold down a job with a regular paycheck, be a legal resident of the United States and have a valid checking account. If you fit the basic criteria is almost there. I mean, you’re almost guaranteed loans. Now, all you need to do is to find a payday loan company and walk in, call in, register online or by fax to your loan.
What is the application process?
The application process for the loan is probably the simple application of any loan (not including the arm-twisting tactics you’ve used the best friend in the past when you need some extra dough, though!)
Just fill out a simple one-page form, provide your phone number along with the entrepreneur of your bank statement that reflects your monthly salary. Then sign a form authorizing the company to reduce the number of payday loans along with additional charges from your account on the next payday. The loan company will process your loan application and you will get the loan amount into your bank account the next business day. It is as simple as that !! You do not need to return to them again to collect or repay the loan.
Do They Trust Me?
They do not. They give you what is known as’ unsecured loans. “This is why they charge as much as 35 percent interest on the loan for the duration of the loan. The total is even higher in some cases. This is also the reason for a payday loan company does not require a credit history.
If a person is not careful about paying up the loan by the next payday, payday loans would be rolled over to the next month and interests along with late fees will apply. It can take payments total nearly 200 percent of the loan value.
Online verification Speeds Up Lending Process
payday loan company uses a process called online processing through software shared by all the banks and financial companies and loans. Do not take them much time to verify if your document is fake or genuine.
When you apply for a loan the first time of a company may take as much as 72 hours to get your loan processed.
However, every subsequent time, and remember that you have a clear payment history, you may get your loan the same day. This will open up many roads for your application. You will be able to apply for a loan via fax, telephone, web site application online or if you wish, you can physically walk to the loan company and get your loan on the table.
So, now a weekend getaway, a boarding party or a new set of tires snow you’ve been putting off for cash-crisis need not pull you down again – these are just a few scenarios in which the loan has been proven to be the perfect way for tiding over time sluggish economy for many people like you and me!