There will always be times in life when you need fast access to cash to cover unexpected expenses or emergencies. People who have bad credit often fear those times because of a lack of resources for quick cash. However, that fear is not necessary. Payday advance loan can cover all of your temporary cash needs without the need for a credit check. This means even those with bad credit can avail of the use of these quick and easy loans.
Payday Advance Qualifications – They’re Easy!
To receive a payday advance loan, all you need are a few small pieces of information. They are:
· Proof of age (you must be at least 18)
· A valid bank account (this can be a savings or a checking account)
· Proof of citizenship (only U.S. citizens or permanent residents can qualify)
· Proof of employment (you need to have a steady job, with reliable income for six months)
That’s all you need. Often just one or two documents can be scanned or faxed to meet these basic qualifications. No credit check will be performed, and approval is nearly instant. Therefore, getting a payday advance can be completed, from start to finish, in under 24 hours. This includes having the money in your bank account!
Understanding the Details and What to Expect
Payday advance loan work a bit differently than traditional loans that you get at your local bank. The terms for these loans are often short – only 14-30 days. This is because, as the name implies, payday advances are used to serve as a paycheck would. Instead of waiting for your next pay period, however, you can “advance” the money through these fast and easy loans. Some lenders are willing to extend the terms of their payday advance loans to up to 60 or even 90 days. However, when they do so, that usually means that the fees (interest) for the money will go up as well.
Finding Your Payday Advance Loan Online
Once you have considered the amount you want to borrow, the term you want to borrow it and the fee you are willing to pay, it is time to look into the different companies that offer payday advance loan. You will find through a simple internet search that many companies provide various packages, but not all are equal. Some lenders may offer longer-term and higher fees, others a lower amount. Determine which combination suits you best. Due to the quick nature of payday advance loan processing, you can compare rates and fees across several lenders all within one day. This allows you to get your money quickly and still reap the benefits of shopping around.