Archive for: ‘May 2011’

Payday Loans No Faxing

May 28, 2011 Posted by admin

Having a rigid pay schedule can often create problems when paying your bills.  Often times, your rent or mortgage payment will consume your entire paycheck, leaving you with hardly any funds for other payments.  This means that you could end up having late fees, insufficient funds fees and other penalties associated with not paying your bills on time.  This could quickly accumulate to hundreds of dollars which is why a faxless payday loan is so important.

What You Need to Get Started

In order to get the approval process underway for a payday loan no faxing, you will need to prove some of the following things:

  • 18 years old
  • U.S. citizen
  • valid checking account
  • currently employed

These requirements will vary from lender to lender, but are simple and straightforward.  The process is made easy so that you can get your cash quickly.  Unlike a traditional loan, you will not have to worry about your credit, reference checks or other stringent requirements.

How Much It Costs

The only cost associated with no fax payday loans is the APR or Annual Percentage Rate.  This interest rate will vary from lender to lender and will be calculated over the repayment term.  Most loans are for 2 weeks which is about the time that the majority of borrowers have to wait for their next paycheck.

Both the principal balance and the interest will have to be paid on the due date.  If it is not paid, then a post-dated check that was drafted on the date of the loan will be automatically drafted from your checking account.  No other fees are involved in the transaction.

Many consumers are using faxless payday loans for emergencies, living expenses and major bills.  It provides them with the ability to reduce the amount of stress that is involved with not being able to keep up or catch up with their various financial obligations.