Each Pay day Lender has Different Requirements see each Lender for More Details.
EX. of some lenders requirements you might find
1) Have a current job for at least 4 consecutive months.
2) Take home a minimum of $1000.00 monthly after taxes.
3) Have a valid checking account open for at least 3 months.
EX: Requirements of Applicants:
1) Minimum net income (take home) of $1200 per month if employed, or
$800
per month if on Gov. Benefits or SSI
2) Age 18 or older
3) US Citizen
4) Valid, active checking account
5) Employed at least 3 months if paychecks are directly deposited to
checking account, (or) employed at least 6 months if paychecks are NOT
directly deposited to checking account.
Document FAXING List
Documents which Applicants must fax in:
1) A copy of their most recent paycheck stub
2) A copy of their most recent checking account bank statement
3) A copy of a voided personal check
4) The completed, signed loan agreement that is generated online, &
printed
by applicant
Please Note: Not all Payday Lenders require Faxing the process is just a little slower
The online application pre-qualifies the applicant for the maximum
amount
they are able to borrow, between $100 and $500.
PAYDAYLOAN fees are may be up to $30 per
$100
borrowed, per pay period.
Final paycheck loan approval is not made until all
documents are received, examined, and approved.
Cash Advance proceeds are deposited directly into the Applicant's checking
account,
and payments are deducted from their checking account.
b) Pay Down. Borrower can pay down principle amounts by increments of
$50.
Paying down will decrease the fee charge for refinance.
c) Pay Out. Borrower can payout full balance, the principle plus fee
for
that period.
Some Payment options:
Pay Day Loans are generally due on applicant's next paydate, however, some payday loans have
the following options:
a) Refinance. Payday Loans will be refinanced on every due date unless
borrower
makes notification of desire to pay in full or pay down the principle
amount
borrowed. New fees accrue every time the loan is refinanced. Any fees
accrued will not go toward the principle amount owed.
If you are going to be late, you may have the option of extending the payment until your next payday for a small fee with most lenders.
This service does not constitute any specific terms from any short term loan in any state. All terms listed above do not apply to any specific cash advance lender on thes website Please see each Company for more details
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Payday Advance Loans > Paycheck > Fast Cash > Payroll > PaydayLoans
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