Question 1: What is a Payday Loan?
Ans 1: A payday loan is a quick loan typically up to $1,500 against a paycheck repayable on the next payday. A payday loan is also known as a payday advance, paycheck advance or cash advance loan.
Question 2: Why use a Payday Loan?
Ans 2: An unplanned expense may leave your budget cash-strapped before the end of a month. Therefore, you would need a little cash "boost" to get you through to the next payday.
Question 3: What can a Payday Loan or Cash Advance be Used for?
Ans 3: Basically a payday loan can be used for any purpose. It is the borrower's money until next payday.
Question 4: What Requirements are Needed to Apply for a Payday Loan?
Ans 4: Typically, you must be over 18 years old and satisfy the minimum requirements of the payday loan lender/provider. Different lenders/providers may have different minimum requirements.
Question 5: Do I need to Faxing any Document when Applying for a Payday Loan?
Ans 5: Faxing of documents is usually not required by most of the payday loan lenders/providers. Please confirm it with the loan lenders/providers before making your loan application with them.
Question 6: I still have Questions about Payday Loan and Cash Advance Loan. How can I Contact a Qualified Loan Representative, Operator, Agent or Lender?
Ans 6: Please contact your loan lender/provider directly, as we are not a loan lender/provider and do not qualify to give you any formal professional, legal, financial and/or accounting advice.
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