Most people who fill out applications for payday loans are usually approved within a few hours and they get the money they loaned the same business day. This is because lending companies demand only the minimum customer requirements. However, there may be few instances when the online application is denied. Here are ten reasons why your cash advance application is not approved be lending company.
1. The potential borrower does not have a stable employment. The payday loan is a loan against the salary that an employed person receives. Without employment there is no paycheck and no capacity to pay the payday loan.
2. The potential borrower has filed for bankruptcy during the year. While cash advance providers don’t check your credit score, they are concerned about your abilities to meet your financial obligations. A bankruptcy shows that the person can no longer support himself financially. And one year is not sufficient time to recover from serious financial difficulties.
3. The potential borrower has been employed at current job for less than required 3 months. Most cash advance providers require a customer to be holding current job for at least three...
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