Payday Advances - Frequently Asked Questions - FAQ
What is a payday advance?
Payday advances are loans that are offered to consumers that allow them to borrow against their next paycheck, with the guarantee that they will pay the amount due, in full on their next pay cycle. Lenders are providing funds based upon your paycheck, so it is like borrowing money from yourself.
How do I apply for a payday advance?
There are many options out there for consumers looking for a short term, unsecured payday loan. There are loan stores that you can physically go to, and apply for an advance in person, or you can visit an online lender, and complete your application process in the comfort and privacy of your own home. Many borrowers prefer the ease and convenience of the online option. The application process is secure and you will receive a decision in seconds.
How long will it take to get my money?
Online payday advances can be processed in seconds and you can have your money in a few short hours. Once you have been approved, the funds are electronically deposited into your checking account, so there is no need to drive to the bank and deposit a check and then wait for it to clear. Your online lender will use the same account that your paycheck is normally direct deposited to. When will my loan be due, and how will I pay it? Your payday advance loan will be paid automatically on your next pay cycle. The amount you borrowed, plus any lender's fees and interest accrued will be electronically deducted from the same checking account that they were deposited into when you employer makes your direct deposit. There are no payment coupons to worry about and no checks to write. As soon as that withdrawal is processed, your loan is satisfied. Payday advances are quick and easy!
What information do I need to provide?
Applying for a payday advance is simple. All you need is a job and a valid checking account. There are no credit checks needed, so even if you have had bad credit in the past, you can still apply and be approved. There is usually no need for a background or criminal check either. As long as you have a minimum monthly income, you are eligible for a payday advance.
What are the requirements to get a cash advance?
Qualifying is easy! You just need to meet these requirements:
- 18 years of age or older
- US citizen with a checking or savings account
- Have a job or regular income
- Make at least $1,000 a month
- Not active in the military
- Other requirements may apply
You will not be prevented from getting a cash advance loan even if you have filed for bankruptcy, have bounced checks or other credit problems.
What is a cash advance loan?
Cash advance loans provide people with unsecure, short-term loans if they are short of cash between paydays. Customers typically need cash advance loans because of unexpected expenses such as car repairs or medical bills. A cash advance loan may be a good option over bouncing checks or having to pay late fees. You can have the funds electronically deposited into your checking or savings account and work out a repayment plan with the lender.
Is there an application fee for using Eagle Payday Loans?
No. There is no application fee by submitting your request or obligation to use a lender through Eagle Payday Loans.
How do I qualify?
Qualifying for a cash advance loan is easier than qualifying for a traditional loan from a bank or credit card company. Rather than having a credit check or any personal property for collateral, you pay check from your job is collateral. You just need to meet these minimal requirements:
- 18 years of age or older
- US citizen with a checking or savings account
- Have a job or regular income
- Make at least $1,000 a month
- Not active in the military
- Other requirements may apply, depending on the lender.
How long does the process take?
After applying, customers will usually be contacted right away and a lender will work with you to get you a loan approval. With your funds being directly wired to your checking or savings account, you will typically have access to the money either the same day or overnight after speaking to a loan provider.
If I have bounced checks, bad credit or charge-offs, can I still get a cash advance?
Yes! Many of our customers have experienced some credit problems.
Do I need any collateral for the cash advance?
The only collateral you need is your pay check and your job. Other than that – no, you don’t need any collateral.
How is the amount I can borrow determined?
The amount you can borrow is based on your current income and other qualifying questions asked by the lender.
When does the loan need to be paid back?
Cash advance loans are intended to help you when you are short of cash between pay checks and the amount of time that you have to pay back the loan depends on the lender. Typically this is no less than 7 days and no more than 18 days. Make sure you talk to your lender about the repayment plan and their terms when you sign up.
Where can I get more information about payday advances? For all of the best options in instant payday loans, visit http://www.eaglepaydayloans.com/ and get your money today.
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