Let’s face it – any of us can run a little short of money from time-to-time, no matter how well we have budgeted. That may not be serious, unless it just happens to coincide with an unexpected expense that has to be dealt with immediately. That’s where fast payday loans may be able to help.
A payday loan, as its name suggests, is a short-term cash advance taken out then repaid in one go – typically on your next payday. It’s a way of helping you get through a difficult month or alternatively, of taking an opportunity that’s just crossed your path when you’re not well positioned to take advantage of it.
On your next payday (or sometimes the one after that), the loan is repaid in full together with any charges due (this may include a bank transfer fee). The lender will place a debit directly on your account for a previously agreed amount. Once paid, your debt is clear.
A payday loan is typically applied for online and a fast decision is made. If it’s yes, the loan amount is transferred directly to your bank account. It could be there within a day or so, or even as little as two hours if your bank accepts immediate transfers. There is no fuss, typically no paperwork, and no lengthy decision-making chain.
Credit history troubles
As with any loan application, the lender may perform a credit reference check, but typically this will be a fast check, rather than something more in-depth. The good news is that as the cash advance loan amount is likely to be smaller than many and repaid very quickly, you may find that modest credit reference problems will be accepted. So, bad credit payday loans may still be available to you.
What you’ll typically need
The requirements for applicants are typically simple including-
a bank or building society account in the USA with an affiliated debit card
permanent employment providing regular income
a regular and verifiable permanent USA address
being aged 18 and over
Using fast payday loans may be an efficient way of supplementing your monthly finances if things are a little tight. And, with the cost often working out cheaper than using a bank overdraft, it may work out cost-effective too.