Online Payday Loan FAQ'S(Each question underlined links directly to the
response below.)
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A payday loan is a short term loan (usually 2 weeks), that
is borrowed against your pay check. When you apply for a
payday loanonline , you request X amount of dollars.
On your next payday, the funds are repaid by
transferring them from your checking or savings
account. There is a fee that's required to be paid
back in addition to the borrowed funds. Fees vary from
lender to lender.
How do I apply for a online payday
loan?
Start by reading the requirements to see if you would
meet all of the requirements. If you determine that
you match all of the requirements, then proceed to the
easy to complete
online application and apply.
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What are the loan
requirements?
The requirements are minimal, see the requirements page for details.
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How long does it take to get
approved?
Once you complete the application form and its presented to
the lenders, you will hear from them within 10 minutes, if
your application is accepted?
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What if I have bad credit?
Bad credit is not a problem at all when you apply for
online payday loans. Although lenders will check data bases
such as Telecheck, to see if you have a payday loan that is
currently outstanding, they never pull your credit report.
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How do I repay my payday
loan?
Funds will be due on your following pay period. The funds
along with a processing fee, will be automatically
withdrawn from your checking or savings account.
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It depends on the laws of the state that you live in.
The minimum amount you can borrow in most states, is $100
and the max is $1000.
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Do I need to fax
documentation?
It varies from lender to lender. Most online payday lenders
do not require you to fax any documentation.
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By completing the online form, am I
obligated to take out a payday loan?
Absolutely not! The online form is simply a way for lenders
to see if you meet their requirements.
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Can I repay the loan
early?
Yes you can and there is no penalty for doing so.
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