A fast payday loan is a quick solution to an unexpected financial hardship. These loans are short term, low rate loans. Because fast payday loans carry high penalties for late payment, borrowers should not borrow more that they can afford.
Credit is not an issue when applying for a fast payday loan. Proof of legitimate income is the most important qualification when applying for a fast payday loan. It is necessary to show proof of income in order for the lender to decide whether or not an applicant will qualify. The lender also needs the proof of income to determine how much the applicant will be able to borrow. The lender will not allow an applicant to borrow more money than they make.
There are several forms of acceptable income when applying for a fast payday loan. There are also a couple forms of income which are not acceptable. State welfare checks are not allowed, nor are social security checks in another persons name.
In order to be approved for a fast payday loan the applicant must also have an active bank account. This is because when the applicant is approved for the loan, the money will be direct deposited into their bank account. ...
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