Thursday, June 7, 2007
Payday Loan F.A.Q
What is a Payday Loan or Cash Advance?
A payday advance provides you with an unsecured, short-term cash advance until your payday. Customers choose payday advances to cover small, unexpected expenses while avoiding costly bounced-check fees and late payment penalties. With Payday Quote Advisor you can apply for a payday loan online and have your advance electronically deposited to your checking or savings account.
What about qualifying?
Qualifying for a payday advance is easier than qualifying for traditional credit. Payday Quote Advisor does not perform credit checks. Your job and your paycheck act as your collateral
What if I have bad credit?
Bad credit will not prevent you from receiving a payday loan at Payday Quote Advisor. Our friendly managers will work with you, even if you have already been turned down by other lenders.
Is my application and financial information secure?
We respect our customer’s privacy needs in managing their personal finances. Our site uses a variety of security measures to maintain the safety of your personal information. All sensitive information transmitted between your browser and our website uses 128 bit Secure Socket Layer (SSL) encryption technology
How much can I receive?
Your first Payday Quote Advisor loan is based upon the information you provide in your membership application. After successful repayment of your payday loan, we may raise your loan amount on any future Payday Quote Advisor loans.
When I will receive my payday loan?
Your application will be processed within 30 minutes, once it has been received. When approved, you will receive your loan on the next business day. Once you receive the loan, we will help you to schedule you repayment dates so that you won’t have to worry about bounced checks or missed deadlines.
How do I know that my loan has been approved?
You will receive an email notification once your loan has been approved. Payday Quote Advisor reserves the right to make adjustments to your loan approval until the time you receive the funds in your bank account based on new information regarding your loan application.
When will my loan be due?
Your due date will normally be due on your next payday that is between 8 and 25 days away. Each state has different rules and regulations.
What if I can’t repay my loan on the due data?
If you can’t repay the full amount of your loan on the due date, you may be able to request a loan extension.
How are fees established?
Our fees are competitive and in compliance with all applicable state and federal laws.
Payday Loans: Are Payday Loans Right For You?
Faxless payday loans are now a fact of everyday life. Like all new products on the market, when they began, they attracted a fair share of ‘quick buck’ merchants. This is inevitable in any emerging market. But with time, and the emergence of ethical, customer orientated companies, and with State and Federal regulation, this market is now considered mainstream and is used by mainstream Americans.
Online payday loans, as most of the providers explain, are short term small consumer loans. They are designed for short term cash outflow problems and are not designed for long term loan commitments. Most consumers know this, and treat them accordingly. Looked at in coldly clinical terms, yes, their APR is high, varying from 250% to 500%. But normal people do not think in APR terms, they think in dollar terms. They can see that a long term loan at 500% is financial suicide, but they can see that a two week loan at $15 per $100 borrowed is a totally affordable short term solution to a short term problem. If the alternatives are taken into account, bank charges for bounced checks or late payment, embarrassment and damaged credit ratings, then an online payday loan can be looked on as a normal, mainstream option to normal mainstream problems that arise every day.
Unlike the 20th Century loan shark customers, Faxless cash advance customers are considered part of what consumer advocates consider the financial mainstream. Also, unlike loan sharks, payday companies do not target the poor, jobless vulnerable people. To qualify for such a loan you must have a job, you must have a minimum monthly income and you must have a checking account in good order, in other words, be part of today’s financial mainstream. Half such borrowers come from households with incomes between $25,000 and $50,000 a year, according to an industry-funded study conducted by Georgetown University's Credit Research Center. A quarter make more than $50,000 a year, and a quarter less than $25,000.
These loans are now just one of many credit products available to Americans. Used sensibly, for what they were designed for, they can save you a lot of hassle, embarrassment, protect your credit rating, and indeed can save you money.
Payday loan Cash online
Applying for payday loan online is an ideal and simple solution for people in this situation. It is fast, quick, and hassle free. Because the transaction is done electronically, the application and approval process is quite fast – usually within 24 hours. With an online payday loan, you can borrow fast cash and have it deposited in your account almost instantly.
There are many advantages regarding how you can use a payday loan for short term financial assistance. It can help protect your credit rating by allowing you to make payments on time, provide emergency cash, or even help with unexpected expenses and such.
Requirements for taking out an Australia payday loan online can include being a resident or citizen. You must also have proof that you have a stable job or regular income source. In addition to these, you need to have a bank account in good standing. You may also have to show other documentation (through fax) such as your latest pay slip stub, latest bank account statement, and driver’s licence. These last three documents are only normally asked for during your first application. If you are a retuning borrower for an online payday loan, you will not need to fax in anything anymore.
Online payday loans are a quick and easy fix to emergency cash situations. As with any loan however, you need to pay an online payday loan off in the agreed time. Borrow wisely and only borrow what you need or what you can afford to repay.