Things to Consider Before Applying for a Loan

Before you take out a payday advance, there may be some questions and concerns still lingering. Some of the most common concerns include:

  • Why do people get a payday loan?

These loans are short-term and offer financial assistance to the applicant in-between paydays. The borrower writes a check for the amount of the loan plus additional finance charges. 

  • When does the loan have to be repaid?

Typically, the basics behind this loan are that it is short-term and most lenders require the loan is repaid on the next scheduled payday. Some lenders allow an extension which may be subject to additional fees and penalties. 

  • Are there fees associated with this type of loan?

These loans are based on the applicant’s income, which ensures the applicant won’t have a problem repaying the loan on their next payday. Most payday lenders have fees associated with these types of loans. The fees are usually based on the amount borrowed and may vary depending on the lender. If a loan isn’t paid back in a timely manner, the borrower may be subject to other fees and penalties. 

  • What kind of qualifications do I need to get approved?

To qualify for a loan, an applicant typically needs:

  • A valid driver’s license/state issued ID
  • Steady Income or Proof of employment
  • Have a valid checking account in their name

(Some lenders require credit checks, valid contact info such as a telephone number or email address, and some lenders may require references, etc.)

 When can I apply for a new loan?

Once the current loan is repaid, most lenders make an applicant wait 24 hours before they can apply for another loan.

  • Is a credit check required for this type of loan?

No. Although some lenders may check credit, the majority of lenders do not. These loans are based solely on an applicant’s income and are repaid on the applicant’s next payday. 

  • How much money can I get a loan for?

Income, banking information and proof of employment are the main things considered when the lender is deciding on how much money to lend. First-time borrowers may only be approved for a minimum amount, but most payday loans range from $300 to $1000.

  • Do I need collateral to apply for a payday loan?

No. Collateral is not necessary or required to utilize these pay advanced services.


To sum it up, payday loans offer the money you need, when you need it the most!

Danger! – Your Credit Score is at Risk

Danger! – Your Credit Score is at Risk

Q: I took out a payday loan last month and I am struggling to make my payments. It looks like I may default on the loan if I cannot make the next payment at the end of the week. I was told that it would go on my credit score as a negative mark. This just does not seem fair. I did not have to have good credit to get the loan and they did not care to check my credit. If I take out a no credit check payday loan and I default in the loan, why will it go against my credit?

Defaulting in Dallas

Dallas, Texas Continue reading Danger! – Your Credit Score is at Risk

Military Son Denied Payday Loan

Q: My son is in the U.S. Army and needed to take out a no credit check payday loans for a bill he forgot about. However, once the lending company found out he was in the military, they denied his application stating it was illegal to lend to him. My question is why is this illegal? Also, I plan to take out a payday loan in my name so I can help my son. Is this all right to do since I am going to give the money to my enlisted child?

Thank you in advance.

Proud Military Mom

Anchorage, Alaska

Continue reading Military Son Denied Payday Loan

Thinking About Getting A No Credit Check Payday Loan to Cover a Bill

Q: I have been thinking about getting a no credit check payday loan to cover the bill for a trip to the emergency room. I have looked into all avenues available to me and my credit is simply not up to par to take out a traditional loan. I do not have anyone I can borrow from and really do not want this bill to become default, and then end up on my credit. My problem is I do not know where to start or what to do in order to get a payday loan. Can you give me some pointer and/or instructions on where to begin?


Waiting for Guidance

Racine, WI

Continue reading Thinking About Getting A No Credit Check Payday Loan to Cover a Bill

Payday loan to pay for daughter’s college?

Q: I was thinking about taking out a small no credit check payday loan to cover a few bills this month. I switched jobs and had about a 2 week period of no paycheck coming in. Now, I am little behind on a few things. I am only slightly behind and I am afraid to get really behind to the point of my utilities, cell phone, or internet service being cut off. So, I guess my question is:


I was wondering if you think this is a wise decision or should I just try and make payment arrangements with my billing companies?


Waiting of Advice

Atlanta, Ga

Continue reading Payday loan to pay for daughter’s college?