If you have been considering applying for payday loans, you probably have some questions. These loans are easy to get, but they are different than the traditional loans that you might be thinking about. Here are some frequently asked questions that are common for people who are interested in a payday loan:
How Quickly Can I Get My Cash?
Though all lenders are different, you should be able to get your cash fairly quickly after getting approved for the loan. Some companies are fast, and you can get your cash in a matter of minutes by using resources such as Western Union.
What If I Have Bad Credit?
For a payday loan, you don’t have to worry about your credit. Whether you have great credit or a low credit score, it doesn’t matter to these lenders. There are requirements that come into play, but your credit score is not one of them.
What Information Do I Need to Apply?
Again, all lenders are different, but in general, you need proof of employment, a bank account, you must be at least 18-years old, and you must provide proof of residency.
How Much, Or How Little, Can I Borrow?
You can usually get as little as $100. As for how much, it could depend on the state you live in. Some states have limits on borrowing. Usually, however, you can borrow up to $2,000 or more.
Is Paying the Money Back Easy?
Yes, it’s extremely easy to pay the money back when you apply for a payday loan. In general, the money will come out of your bank account on the next payday. Don’t worry; they will wait until your paycheck is deposited.
