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Payday Loan
Company
You might have experienced an emergency need for cash
sometime or the other to get a leaking rooftop repaired, a
broken down car requiring calling an auto mechanic, a family
member getting ill or meeting with an accident. What if during
this dire situation you realize you have little or no balance
in your bank account, you have run out of credit limit on your
credit card and it is still 10-15 days to go for you to
receive your pay check for the month. At such point of time a
payday loan company can help you in the best way to meet the
need for money.
A payday loan company can offer you cash advances within a
very short span of time. They provide you with relatively
small amount, unsecured short-term loan almost instantly on
receiving the application for the same. They are the best
solutions to your end of the month financial crisis. They
provide payday loans ranging from $100 to $1500 depending up
on your income for a period ranging from 5 days to 30 days
coinciding with the date of your next payday. The company
charges an interest rate of around 400% to 800% per annum
which looks exorbitant but when calculated for the short
period and small sum of payday loan, does not amount to a big
number.
The services offered by a payday loan company
are:
- Retail payday loans: You can walk in any payday
loan company's office to borrow. You need to give a post-dated
signed check coinciding with your payday to the lending
company. On the maturity of the loan you can revisit the store
to repay the loan amount or the lender may traditionally
process the check further or withdraw the amount
electronically from the bank account.
- Quick online
payday loans: Payday loan company markets these loans through
websites, link referrals, e-mail and online paid ads. All you
have to do is fill up an online application form or fax the
completed application with all your personal details like bank
account number, employment information and social security
number. You also have to fax copies of a check, a recent bank
statement and signed papers.
- No fax payday
loans: As the name suggests you do not need to fax any
documents to the loan company. A no fax payday loan takes only
minutes to apply, process and approve.
For the above payday loans the payday loan company requires
you to fulfill the following simple criteria:
- You
need to be 18 years or above
- You need to have a
steady job for 6-12 months
- Your take home salary
should be $1000 and above
- You need to have a 90 days
or more active current or savings bank account
The payday loan company also offers you extension facility,
where in you can get an extension for your cash advance payday
loan. You need to submit the request for extension three days
prior to the maturity date. The lending company might charge
you some additional money for this extension service. Post
approval, your payday loan will be extended for another 15
days. You are eligible to extend your payday loan for as many
as 4 times.
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