Top Ten Reasons to Get a Payday Loan On line
People use payday loans on line for many reasons. They have an emergency and no extra cash to handle it. People of all backgrounds and economic situations use these short-term loans to help get themselves back on their feet. The following are top reasons people use payday loans.
1. The funds can be direct deposited into your checking account. In less than 48 hours, you can have your money. You can also elect to have the money faster by wiring it into your account minus the lender’s fee and your bank’s fee.
2. 10 minutes or less is the time it takes for an approval or denial. Your information, your ability to repay the loan and the lending company’s criteria determine the exact amount the lender is willing to loan to you.
3. The application is quite simple. You give your social security number, employer, monthly income, next pay date and your checking account information. The lending company verifies your information on-line.
4. Anyone can apply for a payday loan. Your education level and your profession are not issues. Payday loans are available as long as you have current employment and a checking account in good standing.
5. These loans are short term with no long-term commitment hassles. Your next payday is the date your loan is due. The loan repayment schedule varies according to the lender and so do the fees. Successfully repaying a loan can reduce the fees with some lenders if you need to re-loan.
6. The loans range from $ 200 up to $1500. A loan over that amount requires different criteria and conditions. People on average loan $500 or less.
7. There is no credit check. You will not have an inquiry recorded on your credit report. Bad credit does not count against you and your credit rating does not affect your application.
8. You get the money you need to cover unexpected expenses that occur. You do not have to give the reason you need the money. The money can cover vehicle repairs, medical expenses or anything else that comes up.
9. Avoid overdraft charges. Banks on average charge $34 per occurrence and re-charge every 5 days there is a negative balance. The overdraft fees over a two-week period could be staggering.
10. You fill out the information in the comfort of your home without having to deal with embarrassment over your current situation.