Frequently Asked Questions:
Visitors to our website often have a few questions before taking out a payday loan, so we've put together a useful guide to help you decide whether payday loans are the right option for you. You will learn the basics about payday loans from this page, as well as some more specific and detailed information which you might have been wondering about.
What is the minimum age for taking out a payday loan?
All our customers must be at least 18 years of age. You will find that credit cards, bank loans and other forms of loans will not be given to you if you are below this age. Your loan request will automatically be rejected if you do not meet the minimum age requirement.
Do I need a bank account?
You do need a bank account in order to accept a loan. This is the only way that your loan can be paid to you, so it's highly recommended that you set one up if you don't already have one. Your bank account should not have any problems at the time of applying for the loan. If you think something may prevent your account from being accepted, talk to your bank or contact us.
My credit is bad; can I still get a loan?
Most lenders do not carry out any credit checks from the three major bureaus when they receive applications, and even a bad credit score won't necessarily stand in the way of getting a payday loan. This more relaxed system of checking financial history means that more people are able to access quick loans.
Can I still get a loan if I'm unemployed?
In order to qualify for a payday loan, you need to be in receipt of some form of income. This does not necessarily need to be employment, however, so if you're getting disability benefits or another form of income, you can still apply and get accepted for a loan. You should have an income of at least $1000 a month, and you should have been receiving this for at least a month. If you're not sure whether or not you will qualify, contact us with more information about the form of income you are currently receiving.
What if I can't repay the loan on time?
If you think you may have problems paying back the money on time, contact your lender and let them know as soon as possible. They will talk you through the steps which must be taken, although you will likely incur late fees and other penalty charges. In some cases, you loan may be extended, but this depends on the lender and the loan which you have taken out. The most important thing is that the lender knows as soon as possible so that they can arrange for the date to be changed.
My payment will be late; will I be charged?
The late fees will be specifically outlined in your loan agreement, so as long as you read this, you'll be totally prepared for the consequences of paying back your loan after the agreed due date. You should always let your lender know if your loan is going to be paid back late, and they can try to change the date for you.
What happens to my private information?
Getting payday loans online can be slightly daunting for some people, which is why we aim to make the whole experience as safe, secure and easy as possible. We encrypt your information securely using very modern technology, taking every necessary precaution to prevent your details getting stolen online.
How long do I need to wait for my loan?
Once you've been approved and signed the loan agreement, you could get the money as quickly as the next business day. If you apply at the weekend, you may have to wait slightly longer than if you applied during the week, since the banks will not be able to respond and accept the cash at the weekend.
How long do I have to repay the loan?
Payday loans normally last for around two weeks, so the due date should coincide with your next payday if you're borrowing money half way through the month. You will have the due date noted in your loan agreement, and you should make a note of it elsewhere too if you think you may need another reminder.
How do I repay the loan?
Simply make sure that the funds are in your account on the due date and the lender will do the rest. The money will automatically be taken from your account when it's due, and you don't have to do anything else.
Do you need to know what I need the cash for?
We don't need to know what you're getting a cash advance for, and you won't be asked any questions by the lender about it either. Whether you're using it for a family vacation, a shopping trip or just for the sake of having some extra cash in your pocket, nobody needs to know your reasons why.
How long will I wait before finding out whether I've been approved or not?
In many cases, you won't need to wait very long at all to find out if you've been successful or not. You will normally be connected to a lender within three minutes.
How much money can I borrow?
Payday loans range from $100 to $1000, but different lenders may decide to lend different amounts. This means that there is no guarantee that you'll be lent $1000, even if this is the amount you have applied for. Different factors can influence how much money you can borrow, such as your monthly income or credit score.
Can I extend my loan?
Extending and renewing your loan is not always possible, so if you think you may need this, check your loan agreement before signing it. Some states do not allow the renewal of loans, and some lenders will not offer this to their customers.