Q. What are the reasons for people taking payday loans?
A. Most of us are pretty good at managing our income or money. But, there are times when some untoward expenses crop up and put your monthly budget in a fix. These untoward expenses could be medical bills, tuition fees, home or auto repair or a holiday trip. A lot of people choose the payday loans as a bridge to meet their short-term money crush that they experience between paydays. This is why this type of cash advance loan is also referred to as payday loans. This short-term cash loan is not similar to any auto or home loan. It is advisable that you ponder on the benefits and costs of the payday loan before taking it.
Q. How do you fix my payday loan?
A. The maximum amount that can be given out by a payday lender will be fixed by the state laws. You will qualify for the payday loan amount depending on your current income. There are times when you will not be able to get the amount that you wanted. A payday loan is a salary advance loan that you get to meet unexpected expenses until your next payday check arrives. You should only move forward with your application if you consider this as a short gap cash crunch solution.
Q. Will my credit score be checked before I get the payday loan amount?
A. Payday loans are independent of credit history. There is no need for you to have a very good credit score to apply for an online payday loan. We will not check your credit ratings when sanctioning your short-term cash advances.
Q. What if I do not pay the payday loan amount on the due date?
A. It is better that you do not fall into such a situation. If you are not able to repay your loan amount on the due date, then it will be collected in a professional and lawful manner. If at all your bank rejects the payday loan amount that we try to debit from your account, then you will be charged the NSF fee for the returned check. You will be held responsible for paying the loan amount in full, its fees as well as the check return charges.
Q. Can the payday loan be paid early?
A. If you want to pay off your payday loan before its due date, you are most welcome to do so. Just call the customer service representative and they will help you to pay off the amount early.
Q. Will my payday loan application be kept confidential?
A. The payday loan transaction you make with us is completely confidential and all your personal information that you give us in the application will be treated as a confidential document. We will not share any of your personal information to anyone.
Q. How do you determine payday loan fees?
A. The payday loan fees will vary from state to state and will also be dependent on the amount that you are seeking as your payday loan.