1.What is Lowest Loan Rates.net?
Lowest Loan Rates.net is a national organization dedicated to finding Americans low rates for home loans and other financial products.
Q: What is a Payday Loan Center?
A: A payday loan or cash advance is a quick and confidential way to obtain the fast cash you need until you receive your next paycheck.
Q: How do I qualify for a payday loan?
A: Qualifying for a payday loan is easy with. We do not perform credit checks, so even if you have bad credit, no credit, or a bankruptcy you can still qualify. These are the only requirements:
You must:
- Be currently employed or receive a regularly recurring income.
- Your take home pay is at least $1000 per month.
- Your savings or checking account uses direct deposit.
Q: What else will I need?
A: After completing the online application, you will be asked to fax in the following items: (note: you may qualify for our no fax payday loan service if you meet certain qualifications)
- Copy of a bank statement from within the last 30 days
- Copy of a valid ID (drivers license, military ID or state issued ID)
- Copy of your most current pay stub
Q: How long does it take to get approved?
A: Customers typically receive payday loan approval within a few hours of applying, and receive the cash advance loan amount via wire transfer overnight!
Q: What about collateral?
A: Payday loan companies require that you have been at your place of employment for at least 2 years. Your job is your collateral.
Q: Do I need direct deposit?
A: Yes. We can only process your payday loan if your paycheck is direct deposited.
Q: Is my application and financial information secure?
A: Very secure. Our site uses a host of security measures to ensure the safety of your confidential financial information. All sensitive information transmitted between your browser and our website is secure and uses the best encryption technology.
Q: How often can I get a payday loan?
A: You can get a payday loan anytime you need extra cash between paychecks. We encourage all our clients to keep in mind that a payday loan is a only short-term answer to an urgent cash need, and to use these loans responsibly.
Q: How is my loan amount determined?
: State law limits the payday advances to amounts from $100 to $1000. Your actual loan amount is determined by various other factors including take home income.
Q: What are the fees for a payday loan?
A: Loan fees vary. Our lenders fees are competitive in the industry and regulated by state and federal laws.
Q: How much does the payday loan cost?
A: Payday loan fees as low as $10 per $100 borrowed.
Q: When is the loan amount due?
A: Payday loans are usually due when you receive your next paycheck via direct deposit. The standard time for loan repayment is usually no less than seven days and no longer than eighteen days. You may also pay back your loan early without prepayment penalties.
Q: What if I don't have a copy of my most recent bank statement?
A: You may fax an online printout covering the last thirty days with your name and/or account number on it or a bank printout with a bank stamp on it.
Q: Can I receive another cash advance before my current advance is paid?
A: You may only have one outstanding cash advance loan at a time. Once you repay your existing payday advance, you will be eligible for higher amounts in $100 increments until you reach your maximum loan approval amount.
Q: How long does it take to be approved?
It usually takes less than a day to be approved. Often it is 30 minutes or less, depending on the company.
What if my credit isn't so good?
Most companies will work with you, if you can prove that you've been employed for while.
Can I get an extension?
Most companies allow extensions as long as you contact them before the due date.
What can I use a loan for?
Your funds can be use for anything you like, such as car bills, phone
bills, or anything you like.
Q: What if I have poor credit?
A: No problem! Unlike many other financial institutions, we do not require that you have good credit or, for that matter, any credit history at all.
Q: How do I know that the amount you withdraw from my account is the amount you say?
A: Since we are authorized to use the Federal Reserve Wire System, we must abide by the NACHA rules and regulations. As a Lender, we are subjected to federal and state laws and regulations that regulate our lending practices. The amount we withdraw from your account will be the amount that you have authorized.
Q: What is an A.P.R.?
A: An A.P.R is the annualized percentage rate of your payday loan. Our A.P.R range is based upon the length of the loan required. Please refer to our A.P.R. Disclosure page for comprehensive information, so you make an informed financial decision.
Q: How do you determine the amount of money to advance me?
A: State law generally regulates the maximum advance amount available to our customers. Within the allowed range, you qualify for a particular advance amount based on your current income.
Q: What happens if I don't have the funds necessary to repay you on my due date?
A: You must contact us immediately! If you contact us two business days prior to the due date, we can make arrangements for an extension. If do not contact us two business days before your due date, we will charge you extra fees on top of what you owe us, including a NSF fee of $20.00.
Q: Can I pay my loan back early?
A: Yes, you can pay your loan back early. Contact us to let us know that you want us to debit your account earlier than the due date. You may be entitled to a refund or discount of the fees, depending on the date of payment.
Q: Do you provide payday loans for military personnel?
A: Yes, active and retired military personnel are welcome. A large segment of our clients are from this sector.
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