A pay day loan or a cash advance loan as some may call it is the new form of lending available to people without the need of credit checking
. These kinds of loans will give you the money regardless of your credit history.
What Are These Types Of Loans?
These wage advances loans are unsecured loans, they are designed to fill a hole until pay day hence the name pay day loan. You simply borrow the money and pay it back when you next receive your salary.
Whos Eligible?
The best thing about these kinds of lending services is that there is no credit checks involved, as long as you are over the age of 18 years old ,working and have a bank account you have met the requirements in order to receive a cash loan.
How Can I Apply For One?
There are a number of different ways you can apply, you can apply via the internet on the lenders website or you can phone the wage advance company and apply over the phone.
What Are The Charges?
Each lender is different, when you apply for the loan it will be clearly displayed on the companys website it might say along the lines of borrow 200 pay back 275. Each lender will charge different fees so have a shop around.
How Much Can I Get?
Again each loan company is different it can vary between 100-1500. Some lenders may offer you a small amount at first but once you have paid this back they will keep raising the amount you can borrow each time.
When Do I Have To Pay It Back?
You must repay the loan in full when you get paid. The maximum length of time you can get a cash advance is normally for 30 days.
How Quick Can I Get The Money?
With these types of loans the process is very quick once you have completed the application form and signed the relevant paperwork the money will be in your account within just a few hours. Some companies may charge you extra if you want the money in your bank account the same day.
