Payday Cash Loans

How Do I Apply for the Same Day Payday Loan?payday cash loan is just what it’s name says.  It is a loan that is to be paid back by the borrower on her next payday.  These types of loans are used for any type of financial emergency.  Everyone has had a financial emergency at one point or another.  A payday cash loan gives you the money without overcharging the bank fee. Most payday cash loans have very reasonable fees.  The best thing to do is just check a few different sites to find the best one.

I have actually found myself in need of a payday loan once before.  I had just paid all of my bills leaving me with only $45 in my account when a pipe burst in my basement.  I needed a plumber and I had no money.  After the plumber looked at the problem he saw several problems that if they did not get repaired immediately, I would have another pipe burst.  The fee was $1000 and he needed the money when the job was finished.

“That was a lot of money and I knew that my family and friends would not have that kind of money to lend me.  I had used a payday cash loan service before due to an outstanding electric bill so I thought that I would try again.”

What are the requirements of a Payday Cash Loan?

The requirements of a payday cash loan are pretty simple.  The requirements of the loan first stated that I have some source of income that is more than $800 per month.  This income has to be direct deposited into my bank account.  It is required that the bank account had been open for at least ninety days.  I thought about everything and I did meet all of the requirements just like I did the last time.

My income had changed, therefore, I had to look under the FAQ section of the website and see if I still qualified. The first time that I received a payday loan I was working full time. This time, I was collecting temporary disability insurance checks and child support. I looked at the FAQ section of the site. The incomes allowed for the payday cash loan were wages from a job, Social Security, unemployment, child support, and temporary disability insurance checks. The incomes that are not allowed were Social Security in your child’s or anyone else’s names or a state welfare check. I met that requirement so I moved on.

The borrower had to be at least eighteen years or older and I definitely met that requirement. Since my bank account was open since my last payday cash loan I met that requirement. This time was different, however. Since I had a payday loan from this company already, I would not need to fax my information. The FAQ section on the website stated that faxing was only necessary if you were a first time payday cash loan user. Normally, a first timer would be required to fax over a copy of the most recent bank statement and a voided check. This time I was able to skip this part because they had my information on file. If I had switched banks, I would be required to fax the information again.

Faxless Payday Loan

A faxless payday loan is a short term loan. This type of loan is designed to help out with unexpected expenses between paychecks. It is should not be thought of as a long term loan. If the borrower treats it as a long term loan, they could end up paying thousands of dollars in loan fees and penalties.

Jason was looking through his bills one day when he realized that the excise tax on his truck was due in two days. He knew that he had the bill but he was sure he had longer to pay it. Jason’s employer paid him every two weeks so he would not be getting a pay check for another eight days. Not wanting to ask his family and with his credit cards maxed out, he went online to find a solution. After a little bit of searching, he found the website for a fax less payday loan. He read the website because he had some questions.

What are the Risks of a Fax less Payday Loan?

Being the skeptic that he is, Jason wondered what the risks were of getting a fax less payday loan. As he read, he learned that there are no risks and no hidden fees. As long as the loan was repaid on time, he would be only responsible for the repayment of his loan and his loan fee. This sounded good to Jason so he read on.

What are the Requirements for the Fax less Payday Loan?

Jason wanted to be sure that he would be accepted for the fax less payday loan so he read on to find the requirements. Age is a requirement. To be eligible for a fax less payday loan, a person must be at least 18 years old. Jason learned that he was required to have a monthly income of at least $800. That sounded good to Jason. His earning were well over that amount. He also learned that there were certain incomes that were allowed. Wages from a job, Social Security, unemployment, and temporary disability checks named a few. There were also income sources listed that were not allowed. Those were Social Security in the borrower’s child’s name, Social Security in someone elses name, and state welfare checks. Jason read on and learned that the borrower would be required to have an active bank account that has been open for at least ninety days. Jason read on until he came to a part that had him confused. There was a section on the requirements section which said that having access to a fax machine may be required. Jason did not understand this because the name of the loan is a fax less payday loan. As he read on, he learned that if it is not the borrower’s first time getting a loan with the company and his information did not change, he would not be required to fax any information. Jason realized that the name was more of a gimmick to get people to read about the loan and choose that particular one.