Frequently Asked Questions (FAQ)Powered by LoansPayday.info
What exactly is a payday loan? A payday loan is a short-term loan, which is unsecured and (in this case) ranging from $100 to $1,500, designed to help you meet your financial needs by your next payday. Practically speaking, you are writing a check against your next paycheck for the loan amount plus fees which will not be processed until you are paid. Payday loans are also known as deferred deposit, short-term loans, cash loans, fast cash, fast loans, bad credit loans, payday advances, and by other names. Whatever you may call them, they can help you through a financial crisis. LoansPayday.info exists to help you find a payday loan lender. We submit your application to a vast network of lenders and attempt to pair you with the one best suited to your needs. By searching for a payday loan through LoansPayday.info, you can be certain that your application is being considered by the best people in the payday loan business. What are the requirements for a loan? The minimum requirements for a payday loan are:
Immediately after you submit your application with us, you will be connected to a lender who will evaluate your information. Your assigned lender may contact you directly to obtain additional information if necessary. These lenders tend to utilize proprietary criteria to evaluate customer applications and to determine the validity of the information submitted. To increase your chances of being approved for a payday loan, include as much verifiable information as possible. For example, including a home number instead of a cell phone number will increase your chances of being approved, since a home number has a verifiable location. While we do our absolute best to match you with a lender, there is no guarantee that the lender will approve your application. How do I get a payday loan? Just complete our online application, and you will be connected to a lender through our vast network. You may be required to sign electronically once you have been connected to a lender. But there is no requirement that you accept the loan offered if you are offered one. If you are not satisfied with the terms of the loan you are offered, simply reject it and re-apply on our site to be paired with a different lender. Typically, your funds will be transferred to your account on the next business day. In most cases, you will have the ability to choose the payment method that will work best for you in your particular financial situation. All payments are made by electronic transfer to your bank account. How long do I have to pay back the loan? Normally, your payday loan is due on your next payday, though lenders may allow you to extend this date by paying a fee. After being matched with a specific lender, you will be directed to their own loan documents. Here you will find details as to when your loan is due, how much the fees will be, etc. In most situations you will have the following options:
How do I receive my cash? Your payday loan is sent directly to your account by the lender, usually by the next business day. LoansPayday.info works directly with a network of lenders, some of which are able to wire funds to your account within as little as an hour! How quickly can I get my money? Payday lenders generally process your loan immediately, so funds will be available in your account on the next business day. Some can wire funds to your account within as little as an hour. If you apply on a holiday or weekend, many lenders will not be open, and as your bank will not be open, you will receive your funds on the next business day. What hours is your service available? Applications are accepted 24 hours per day, every day of the year. However, once your application has been submitted to a lender, they may require additional verification which can only be processed during regular business hours. Please keep in mind that lenders can only deposit your funds into your bank account when banks are open for business. You can submit your application to us any hour of the day, and day of the week. However, since we attempt to connect you with the best available lender and many lenders are not available during weekends, your chances are improved if you attempt to apply for a loan during regular business hours (Mon-Fri 8 am - 5 pm EST). How do bank holidays affect my loan? The following bank holidays are observed by Federal Banks and their branches: New Years Day Martin Luther King, Jr. Day Presidents Day Memorial Day Independence Day Labor Day Columbus Day Veterans Day Thanksgiving Day Christmas Day When holidays fall on a Saturday, Federal Reserve Banks and branches are open the previous Friday. When holidays fall on a Sunday, Federal Reserve Banks and branches are closed the Monday immediately following. If your loan is approved on a day when banks are closed, such as a holiday or weekend, your funds will be wired to your account on the next business day. To confirm that the funds have actually been sent, you should contact the lender directly, and contact the ACH department of your bank to ensure that the funds have arrived to your bank account. How much money can I have advanced to me? LoansPayday.info helps you find payday loans up to $1,500, depending on the information you provide us on your application. Until you establish a payment history with your lender, they may grant you a smaller loan. What are the loan fees for the payday loan? LoansPayday.info works with a network of payday loan lenders which offer some of the lowest rates in the entire industry. The fees will vary depending on which lender you are matched with. What if I do not get approved by the lender you matched me with? While we do offer the largest network of payday lenders, we cannot guarantee that you will receive the loan that you need. We do our absolute best to match you with a lender that will be most likely to approve your application. However, since specific lenders have their own specific criteria, we cannot guarantee that they will approve your application. We simply work to increase your chances and to streamline the process. LoansPayday.info is not involved in the loan approval process, and therefore has no information regarding the status of your loan application. Contact your lender directly for information on this. If you happen not to be approved for a loan, feel free to use our Returning Customers link on our website. We will then attempt to match you with another lender and give you another chance to get the loan that you need. What if my application is not matched with a lender? Despite the fact that we do offer the largest network of payday loan lenders, we cannot guarantee that we will find a match for you. If you are matched with a lender, but are not approved for a loan, here are some strategies that will increase your chances of being approved when you re-apply:
There are several lenders in our network who can still approve your application even if you only have a savings account. Please contact your bank to obtain your routing number, though. This is necessary to send funds electronically to you from the lender. What if I have a fixed income or benefits? As long as you have a regular source of income, our lenders can provide you will a loan. If it is a benefit, not a salary, enter your benefit provider as Employer. If you do not have the telephone number of your benefit employer, enter your own telephone number. For your Months Employed, enter the number of months you have received these benefits. What if I do not have a driver's license or state ID? If you do not have a driver's license or state identification, enter your social security number or passport number instead. Does your company do credit checks? LoansPayday.info is not a lender and does not provide any form of credit check whatsoever. We try to match you with a lender who then evaluates your application, but we do not evaluate it ourselves. Most of the lenders in our network do not use traditional checks, but may use such services as CL Verify, TeleTrack, or DataX to verify your identity in order to approve your application. Is this site secure? You may submit your application securely by clicking "Secure Application." Do I need to fax any information? No, the application process itself does not require any information to be faxed, though the lender may require additional information in order to verify your residence or employment, such as a pay stub. I am ready to get a payday loan! Where do I go to apply? Good! You can apply online today! Click Here to Apply Now! |
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