Frequently Asked Questions
Who can apply for a payday loan?
Almost everyone can apply for a loan. To get a loan online you have to:
- Be at least 18 years old;
- Be the US citizen;
- Have a bank account;
- Have a steady income;
- Fill out the application form online;
- Provide required information on the site.
Also, it is favored by the lenders if you have a good credit history. If you don’t have one, the successful repaying of the loan in time will help you build one.
How can I get my money?
Getting money is super easy with the help of our website. First: fill out the application form. Second: contact with the lender. Third: Negotiate on the loan terms and conditions. Finally: Get the money on your bank account.
You don’t need to gather piles f paperwork. You don’t have to go to the bank and explain why you need the money. See? Every money trouble you have is fast and easy to solve without leaving your comfort zone.
Important! Giving your credit card number, be sure to give the card that is under our name.
Does the income size matter?
Not precisely. It is great to have a good credit history. A great credit score makes your chances of getting a loan bigger. Sometimes, you may have a zero credit history and still get a loan. Lucky for you, making timely repayments and covering the loan successfully will help with making a good credit record.
There are also loans for the unemployed available online. However, having no stable job makes the loan rate go higher. You can always discuss your money needs with the lender directly and negotiate on the loan terms given your unemployment.
How does my credit record influence the loan getting process?
The lender will look at your credit score under any circumstances. Relatively, having a good credit score will result in getting a smaller loan rate and getting the loan faster. Having an average credit score means that you will be facing a higher interest rate and fewer loan options to choose from. However, the credit score isn’t a solemn factor the lender is basing the loan approval on.
There’s always a chance to improve your credit score. For example, before approaching a lender with a loan request, reconsider applying for any other credit products.
Why can I be denied a loan?
Here are the reasons one can be denied a loan:
- You have failed to meet the lender’s requirements;
- You are currently repaying another payday loans;
- You have overdrawn your bank account;
- You have no steady income;
- You have zero or poor credit history;
- You have given wrong information in your application form;
- The debt to credit ratio is high.
To be granted the loan, review the points above and see if you can meet the lender's requirements.
What happens if I don’t repay the loan in time?
The first thing that you need to know is that reading the terms and conditions of the loan agreement is obligatory. There you can find the fullest information about late payment fees and fines when failing to repay the loan. Here’s a more detailed list of what you are facing unless you repay the loan:
- You’ll be charged fees and interest;
- It will damage your credit history;
- If the loan you are taking is secured, you may lose your property;
- There are times when a client is forced to declare himself a bankrupt.
Can I boost my credit rating by applying for a loan?
Yes. The first and the most popular way to better your credit rating with a loan is making loan repayments in time. You will be suggested two ways of repaying the loan. Choose the one where the money will be automatically withdrawn from your bank account on the payday. This way you won’t forget to cover the loan payment the given month.
Having repaid the loan promptly, you will have a good score on your credit rating. Therefore further loan applications will be more effective.