A payday loan, also called a cash advance, is a kind of short-term loan that direct, online payday loan lenders offer without the need for a credit check. They are normally for small sums of cash to pay for unexpected small financial necessities until your next payday. This kind of loan is very helpful in cases where you might be in urgent need of a little extra money until payday, but you don't have extra cash and can't get it from an existing source. This can be due to emergencies such as medical bills, vehicle repairs, or even groceries.
These kinds of loan providers can be very helpful, but sometimes the lack of credit can make it difficult to secure one. Fortunately, there are direct, online payday loan lenders who don't check your credit score and have no problems providing cash loans to people with bad or no credit. Their lending criteria are very simple, and their requirements even simpler. You must have a job that pays you regularly, has been working at the same location for at least a year, and be at least eighteen years of age. Any legitimate lender easily fulfills all these conditions, but sometimes it helps to use a third-party lender.
These online cash lenders don't employ a go-between so that you can get money within minutes. First, you need to provide basic personal information such as name, address, social security number, phone number, bank account information, and other personal details. Then, the application can be processed within minutes. As soon as your application has been approved, the cash will be deposited into your bank account within a matter of hours.
Direct lenders are probably the best option if you have ever had problems getting advance cash from traditional payday advance lenders because of bad credit or no credit history. These companies are completely secure, and your personal information is kept in the strictest of confidence. You can also go through getting an instant payday loan if you are in financial need. This option is especially useful for those who need a small amount of extra cash urgently.
These payday loan lenders might require you to fax through documents to show that you meet certain requirements. The main requirements might include:
Having an active checking account in your name.
Having an active bank account in the loan company's name.
Being at least eighteen years old.
However, these requirements might vary from one company to another. So it's always best to check the requirements from advance lenders before you sign up. Whether you have bad credit or poor credit history, a reputable direct lender should be willing to work with you.
Online payday loans are very convenient, fast, and easy to qualify for. They come in various options and are good for those short-term needs that you might have in the middle of the month. All in all, there are a lot of reasons why direct lenders are better than online loans, although it might take a few minutes longer to find the best lender. Getting a quick cash loan doesn't have to take longer than five minutes, either, so you'll never have to worry about being late on paying off your debt.