1. What is a Cash Advance, Payday Loan or Paycheck Loan?
A payday loan provides you a short-term cash advance when you need it urgently. It is unsecured, short term loan. You can use payday advances to cover small, unexpected expenses while avoiding costly bounced-check fees and late payment penalties.
2. Who can qualify for payday loans service?
In order to qualify for a payday loan, the borrower generally must have identification, a personal chequing account and a proof of a regular income. Payday lenders typically extend credit based on a percentage of the borrower’s net pay until his/her next payday (generally within two weeks or less). The borrower provides the payday lender with a post-dated cheque, or authorizes a direct withdrawal, for the value of the loan plus any interest or fees charged.
3. How soon can I get my payday loan cash?
As soon as your application is approved, you will receive the payday loan funds in your active account automatically within few hours.
4. Is there any charge for application form?
There is no application fee at all. You can apply and get payday loan with out paying a single penny as fee.
5. What if I have poor credit or have filed bankruptcy?
If you have poor credit or no credit, it will not affect the approval of your loan. You can get loan without any checking of your credit score.
6. Can a payday loan be extended?
Yes, you may extend your payday loan as many times as necessary. However, these are short term loans and should be paid back quickly.
7. What is the loan period for payday loan?
Payday loans are loans to be used in case of financial emergency. The loan period is most often 14 days long, but it may vary in some cases.
8. What happens if I do not make a payment request on time?
If you fail to submit a payment request at least 2 business days prior to your due date, then the entire amount due will be debited! Further, if you are a Free Loan customer, you will forfeit your right to getting the fees waived.
9. Is my application and financial information secured?
Absolutely, we respect our customer’s privacy needs in managing their personal finances. Our site uses a variety of security measures to maintain the safety of your personal information. All sensitive information transmitted between your browser and our website uses advance encryption technology.
10. What is collateral to receive a loan?
Your job and your paycheck are your collateral.
