subject: Faxless Payday Loans- Easy Cash For Poor Credit Holders [print this page] Some days ago finance companies were asking the loan applicants to fax their account details, paycheck and address proof documents. But recently new finance plans are introduced in the market. These schemes are called faxless payday loans. As its name suggest, these loans do not require faxing the paper documents. The cash assistance under payday advance with no faxing is provided through online mode. Online mode of lending is simple and do not involve faxing the documents or any sort of paper documentation. Therefore money is readily available to the people. The persons desirous of getting cash with instant loans are required to submit online applications on the websites of payday advance lenders. Lenders usually take 24-48 hours time in crediting payday advance amounts.
Faxless payday loans are less costly than the bank overdrafts and credit cards, which involve variable interests. Interests on Bank overdrafts are accrued on daily basis. However payday advances involves a uniform interest rates ie. between 10-25%. Therefore, it may not be suitable to the individuals with low earnings. Persons with poor credit records such as intra voluntary agreements, skipped payments, previous loan defaults etc. are free to apply for instant cash borrowings as these plans do not include credit assessments of the applicants. Even the persons without security guarantee may
avail financial benefits with these borrowings.
Payday advance amount ranges from 50 to 1500. This advance is valid for limited duration ie, 1-30 days. A person for availing cash under quick finance plan has to fulfill some criteria:
1.He is an UK national,
2.He gets a monthly salary of 1000 or above from a permanent job in UK,
3.He has crossed the 18 years age limit &
4.He has an active checking account in a renowned bank of UK.
Many small cash lenders are now providing their instant cash advances with flexible repayment options. Borrowing with flexible plan will provide a borrower some extended time for relaxation.
