1 Year Loans For Bad Credit - This Video Aims To Answer Any Kinds Of Questions That You Might Have.
WHAT IS A PAYDAY LOAN?
This name may explain quite well for some people. But if you still wonder what a payday loan is, here is a quick explanation.
Short-term loan is a short-term approach to solving your temporary financial problems. They can be removed at any time of the month. But you expect to pay back on or after the next payday, with additional fees. In this sense, you can see that it is your wage advance. There is no need for collateral and you can borrow between $ 100 and $ 1,000. A $ 500 loan is an option.
WHO CAN GET A PAYDAY LOAN?
If you are a US citizen aged 18 or over with a bank account and a stable source of income ($ 1,000 or more per month), you can withdraw the loan. Even those with bad credit will be considered by the lenders in our network.
ARE YOU AN EXCEPTION FOR THOSE UNDER THE AGE OF 18?
Unfortunately, lenders can not make exceptions for people under 18 years of age. U.S. law states that underage people can not provide credit for a loan, so they must follow these rules. Our lenders comply with federal and state laws, all about payday loans!
WHAT IF I DO NOT HAVE A BANK ACCOUNT?
To make the process quick and efficient, every lender must have a bank account in your name that automatically deposits and pays the bill. You can set up a bank account and go through this step later. New bank accounts will not be approved because transaction history will help lenders assess your financial position.
WHAT INFORMATION DO I NEED?
In order to get a payday loan you will need to provide your personal details including address, phone number and other relevant information which we will forward to the lenders in our network. The lender must have employment status and income and bank account details. While it may not be possible to send a fax, in some cases, the lender may require additional documentation to confirm your details and circumstances. This step is faster than the bank.
HOW LONG WILL IT TAKE TO GET A LOAN?
Our credit application form only takes a few minutes. You will then be connected to several lenders in our network who will evaluate your information and approve or reject you within 5 minutes. If you accept their offer, you can view the cash on your account within. 24 hours
HOW LONG WILL IT TAKE BEFORE I PAY THE LOAN?
The average time you need to repay a loan is two weeks. The repayment date will typically match your payout date to ensure that there is money available to cover the payout.
WHAT IF I BORROW TOO MUCH MONEY?
You should not borrow more than you can realistically pay. You should always borrow as little as you want, rather than borrow too much and then struggle to pay back. Lenders have a few safes, for example, earning more than $ 1,000 a month and offering you an amount lower than your earnings. Only you can know how much you can handle.
WHAT IF I CHANGE MY MIND?
If you change your mind before signing the contract, you can walk away without obligation and you can go through the process again in the future. If you change your mind after receiving your payment, you must contact the lender immediately. Normally, you will be legally bound to meet the requirements in this step. However, some lenders may have a grace period.
DO I NEED TO TELL ANYONE WHAT MONEY IS FOR?
You do not need to tell anyone about what you will spend money on. We will not ask you and the lender does not ask for one. You can spend money for a family trip, family holiday shopping, or anything else you want to spend on. But you should be wise with your decision. Using a payday loan to pay off your debts will only make your financial situation worse.
WHERE DOES MY PERSONAL INFORMATION GO?
We understand that you are passing sensitive information onto our system, which is why we are dedicated to ensuring that it is properly protected. We use the latest in encryption technology and do not pass your information to third parties outside our lender network.
CAN I BORROW A LOAN WITHIN TWO MONTHS?
Borrowing more than one month within the same month can cause serious financial problems for you, so the lender will only allow you to lend a loan.
WILL THERE BE A CREDIT CHECK?
While we can not say that there is no credit check, the lender does not use 3 large evaluation units and even if you have bad credit. But that does not mean you will be rejected. Factors like your income play an important role as well.
DO YOU WANT A DOCUMENT?
Lenders will let you know if they need any documents to verify your details. Today, you can download bank statements and other documents online, so faxing may not be possible.
WILL MY CREDIT BE AFFECTED IF I DO NOT REPAY THE LOAN?
Because lenders reserve the right to review credit when you use it, this may result in a search on your credit report. Non-repayment of the loan will not have a negative impact on your credit rating, making it difficult to obtain future loans. Likewise, a payday loan may improve your credit rating because it shows that you can fulfill your obligations. http://www.1yearloansforbadcredit.com/faqs.html