Pay Your Bills, Unexpected Expenses, and Other Debts with a Payday Loan
There are many misconceptions about payday loans. Because of the word “loan” in “payday loan,” many people assume a payday loan works like a typical bank loan: Go to a bank, fill out some papers, wait for a credit check, get approved/rejected, and finally, if all things go well, get some cash. They assume they’ll have to pay regular monthly payments for the next 2-3 years. However, a payday loan couldn’t be more different. Here’s why:
A Payday Loan is a Short-Term Loan
Unless a borrower wants a regular monthly payment plan, most payday loan periods are between 2-3 weeks. It’s called a payday loan because the entire borrowing, spending, and repayment cycle usually takes place within the amount of time it takes to receive your next paycheck. If all goes well, you’ll have your loan paid in full in less than 3 weeks. With a bank loan, you would have to pay monthly payments for years.
A Payday Loan Requires No Credit Checks and No Faxing—Bad Credit is Ok
All banks have different logos, deals, prices, and fees, but there’s one thing all banks have in common: credit checks. When a customer applies to borrow money, all banks will issue a credit check, no matter who they are or how much they make. Because there is no collateral needed to secure a payday loan, our lenders don’t issue credit checks or require their borrowers to fax unnecessary personal documents. Bad credit is ok, too!
If you need money now, consider applying for a payday loan today!
by “Teri White“