Here are some answers to the most common questions we get asked:
- What if I have bad credit?
- What information do I need to complete the application?
- How quickly can I get the money deposited into my checking account?
- Where do I find my ABA / Routing Number & account number?
- How long do I have to pay back the loan?
- How do I pay back the loan?
- What happens if I pay back my loan late?
- What happens if I do not pay back the loan?
Applying for payday loans is open to all credit types. Requirements needed for a loan approval is based on each individual lender.
Usually your name, address, employment information, banking details, and picture identification is needed in order to complete your payday loan request.
Usually, funds will be deposited into your account the next business day (sometimes it takes just minutes). However, sometimes some lenders may need to ask you for additional information based on your circumstances resulting in additional days for the deposit.
Please see this link for instructions on how to find the information from your check book. Alternatively please call your bank for more information.
Your payloan is normally due on your next pay date. However, some lenders may offer a plan to pay your loan over an agreed period of time.
Usually, the full cost of the loan will be withdrawn from the user’s bank account on their next pay day. However this is not the only of paying back a loan. An installment plan can be set-up for customers that are unable to repay the entire loan on the next payday. It is very important that you also learn about the repayment options so we encourage you to read the terms and conditions of your loan.
We do however recommend you repay the full amount of borrowed money on your first payday but if this just isn’t possible, paying back as much as possible on the first payday will help you lower the total cost of the loan.
Full payment of your loan is a great advantage to you. If you take out a payday loan and pay it off on time, this will be reflected to a Credit Reference Agency. If you show a pattern of taking out a loan and always repaying the loan under the agreed timeframe, this will cause a beneficial impact on your credit record.
Late payments of loans may result in additional fees or collection activities, or perhaps both. If you are not able to make a loan payment, we would encourage you to contact your lender to discuss alternative options and to avoid costly fees.
Not repaying your credit could result in collection activities. Each Lender has their own terms and conditions, please be sure to look through their policies for additional information.