Faxless Payday Loans: An Overview
Applying for a "No Fax Payday Loan" is a very viable option to
consider when you need money in a hurry. This convenient service
can really help out during an unexpected circumstance that
cannot wait until your next pay check.
So what is a No Fax Payday Loan? Basically it is a cash advance
loan. The purpose is to help you when an emergency strikes or
when you find you need to stretch your paycheck just a bit more.
The "No Fax" means no documentation is required to get the loan.
When online Cash Advance Companies began popping up about 5
years ago, you had to fax in a myriad of documents in order to
get approved for a loan. Consequently, people preferred going to
the local Payday Loan store due to less hassles and quicker turn
around.
But as with everything on the Internet, all you have to do is
blink your eyes and things change. Such is the case with online
Cash Advance Lenders; with improved methods of verifying
accounts and employment the dreaded faxing was eliminated. Hence
the No Fax Payday Loan was born, making online processing the
easiest and best way to get a cash advance.
What are the advantages of a No Fax Payday Loan?
1) Convenient - An easy online application process. 2) Fast - In
most case the approval is in less than 30 minutes and the money
is deposited into your account the next business day. 3) No
Faxing - you do not send any documents to anyone. 4) Peace of
Mind - gives you a sense of security knowing you can get a cash
advance loan when needed.
When searching for a cash advance lender, be sure to read all
requirements and charges. You want to go over all the "fine
print" details because each company charges different rates and
fees. Some will want direct deposit of the loan and direct
payment withdrawal access to your bank account. If you are not
comfortable with this, you will need to choose a No Fax Payday
Lender which does not ask for automatic debiting.
Also make sure you know exactly how much you will be charged for
the loan. Just like a car loan or other financing, you want to
get the best possible rate you can. Cash advance companies all
charge different fees and percentages for loaning money, so look
around at several online marketers to get an idea of the
variations in rates.
The following is a check list to use when searching for a No Fax
Payday Loan lender:
1) Age of the Company; 2) Rates and Fees (including late
charges); 3) Any Affiliations with Online Business Associations;
4) How they expect repayment; 5) Processing Time; 6) Do they run
a credit check every time; 7) Research at least 5 or more cash
advance loan companies.
You need to be mindful that a No Fax Payday Loan is not
recommended as a resolution to bill paying problems. If you are
behind in payments, this may not be the solution for you. Proper
management of your finances and possible debt consolidation may
be your best answer.