You must be at least 18 years of age. You must have a checking account that has been open and in use for at least 90 days. You must have a minimum of $1000 in payday or fixed income deposits per month. Payday loans are primarily designed for your short-term cash advance needs. It is in your best interest to borrow only what you can expect to pay back. Please refer to the fees menu page for addition information.
They provides short-term cash advances that are electronically deposited into your checking account. Everything from application to payment is done electronically via our web site. When your loan is due, the amount borrowed plus a service fee is debited from your checking account.
Payday loans are designed to be short term loans to meet an immediate need. Unfortunately, a dependence on extensions moves a customer into a long term situation which is not in their best financial interest. We are committed to dealing with consumers with honesty and integrity and do not wish to take advantage of anyone or to allow them to abuse a system to their own harm.
If you choose not to pay your loan on the due date, you can extend the loan for an additional fee. You can extend your loan up to three times, paying only the finance charges and fees due at that time.
After filling out the online application or calling them to apply by phone, you will have to fax in your bank statement and a voided check. They examine your bank statement to determine your income, and they loan you funds based on the monthly amounts we see deposited into your account. If they approve your loan request, the funds will be deposited into your account overnight so that you can get your money the next banking day.
Rates are what any loan is all about, and they could discourage many individuals suffering from bad credit from approaching lenders. What sets short term payday loans apart is the fact that that many payday loan lenders offer their cash services even for individuals with bad credit.
If you're in a really bad credit situation and you have mounting cash needs between your paydays, the payday loan is just about the only option you have of setting your finances in order and rebuilding your credit.
But before you select a payday loan lender, make sure you get the Payday loan rates right. Payday loan rates include the finance charge or interest rate for the loan amount you borrow, and other charges for the application, extension, and flexible repayment options.
Generally finance charges for payday loans range from $15 to $30 per $100 borrowed, which would translate to 390% to 780% in APR rates. Payday lenders are required by law to publish their APR rates and give you any information you demand about the rates and the terms and conditions of the no teletrack payday loans. The APR is the Annual Percentage of Rate of Interest.
Before you apply or agree to the terms and conditions ensure that you check out the APR comparison chart. Some states such as New Mexico have passed laws regulating the rate of interest charged. Payday loan rates also depend on your credit score. Your credit score may not discourage you from a payday lender, but the better your credit rating the more competitive the rates you're charged.