There are several important factors you must consider before applying with any payday loan company.
Here are the questions you need to address:
- What are the loan costs? Are there any hidden charges you need to account for? The most important consideration would be the cost of taking out the loan. If it doesn’t make sense to do it, going ahead with a payday loan will hurt you more than help. Does the loan involve any hidden fees or charges? All these hidden fees or charges would need to be added to the cost of taking out the loan.
- How quickly do you need the cash? How much do you need? How urgent is your need for the cash? If you are looking for a fast solution to solve your cash shortfall within the next day or so, you would definitely want to have the money in your possession by then. Since it’s an urgent need, any later and it would be of little help to you.
What are the minimum requirements to obtain a payday loan? Most payday loan companies share the same minimum requirements as follows:
- Have a current job for at least 3 consecutive months
- Take home a minimum of $800.00 monthly after taxes
- Have a current checking account open for the past 3 months
3. Can the loan be faxless? If you’re in a hurry, the last thing you want to do is hunt around for the documents you need and then find a place where you can fax it. Having an online application process is the easiest way to obtain these payday loans.
4. How much can you borrow? Most will allow you to take a loan up to $500. The actual loan amount would vary depending on several factors among them your current income, your job stability, length of employment, any outstanding insufficient funds to be paid, as well as any outstanding payday loans.
Getting a faxless payday loan here meets all the above requirements. It’s secure and hassle-free. You could be approved within minutes and funded by the next business day.