Online Payday Loans

One question that many people ask is will they really qualify for online payday loans. When banking restrictions set in, people with average credit found it much harder to qualify for loans. The current administration is planning to ease some of those rules on smaller banks and credit unions, but it will take time. People with urgent financial needs don't often have time to wait.

Online payday loans are meant to cover emergencies with short-term loans. You borrow what you need and pay it off with your next paycheck. It's handy for those unexpected emergencies like a water heater dying or a mechanical issue with your car.

What You Need to Have to Qualify for a Payday Loan

In order to get a payday loan, you usually need a Social Security number or ITIN and proof of income. For proof of income, you usually provide a paycheck stub. You'll need a bank account where the lender can withdraw the money that's due to repay the loan.

You also will be asked for a government-issued photo ID. You might have to prove your address by providing two current bills at the address you're listing.

What If You Can't Provide Everything That's Required?

When qualifying for online payday loans, some payday loan companies understand that there are exceptions. If you're receiving Social Security benefits instead of a paycheck, many companies will work with you.

If you don't have a checking account, many loan companies will accept a prepaid debit card instead. At 1Hour Fast Cash, we help you find a company who is willing to work with you and ensure you get the best rates possible.

What Are the Terms on a Payday Loan?

Every loan company will have its own terms. Generally, payday loans require you to repay the loan within a specific period of time, which is often 14 days. At that point, you pay back the money you borrowed plus the finance fee.

If the due date arrives and you don't have the money, it's important to talk to the company. Failure to repay racks up fees. There's also a chance that your account gets sent to collections and shows up on your credit report. If you can't repay it, the company will work with you to extend the loan or work out a way to repay it that works for you.

Shop Around for the Best Payday Loan for Your Needs

Online payday loans are easy to find, but not every company is going to be right for you. Shop around to get the perfect loan. By comparing offers, you'll get the lowest rate and best repayment terms. Plus, 1Hour Fast Cash starts the process for you. You'll receive a targeted list of loan companies who will work with you. There's no need for you to narrow the selections. We do it for you. Apply now.