Payday Loan Companies What To Expect When Applying For A Payday Loan Online
Payday loans can be processed in a matter of minutes over the internet. Within hours, you can have up to $1000 transferred into your checking account. However, you will need to provide some basic financial information to process your loan. But, requests for too much information are a warning of a scam.
Basic Info Required
To process your application, a payday loan lender will need your contact information, checking account number, and job information. With a faxless application, you simply type in the information. Otherwise, you will need to use a fax to send copies of your drivers license, pay stub and a voided check.
With your personal information, the lender wants to be able to contact you if there is a problem with your account. They also want to verify that you are 18 or older.
Checking account information is need since the cash advance will be wired to your account. Your lender will also debit your payment. They also want to check that there are no outstanding checks.
Payday loan companies also check to see that you have a steady source of income with a...
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