1.What is a payday loan?
A payday loan is a short term loan that is awarded to a person who is short on cash and needs financial aid to help him reach his next paycheck. The purpose of these loans is to help you pay your bills during those months that you are low on cash.
2.What requirements do I need to get approved?
To be eligible for a loan from pay-day-advance.org you need to satisfy the following requirements.
- I. Be at least 18 yrs old.
- II. Earn at least $1,000 monthly.
- III. Have a bank account that has been active for at least six months.
- IV. Have a steady job with a consistent flow of income that meets the minimum amount mentioned in (ii).
3.How much can I borrow?
The amount that one can borrow varies with their net monthly income. That said; pay-day-advance.org suggests that people apply for a loan that ranges between 30% and 50% of their net income. Loans higher than 50% of one’s net income will not be considered and one would be forced to re-apply again.
4.Do I need additional security?
No. Once you have met the minimum set loan requirements you are all set and you can start receiving your funds directly from your bank account. Remember, pay-day-advance.org is not a bank. It is a payday lender which dishes out small loans hence there is no need for additional security. Your paycheck is enough.
5.How do I go about repaying the loan?
Please note that before pay-day-advance.org approves you for a loan you MUST authorize us to deposit money directly into your bank account. At the same time, you grant us the right to deduct the amount lent to you plus our fees directly from your account once your paycheck lands for the month after you received your loan from us.
6.Can I receive a loan if I have poor credit?
Yes you can. Pay-day-advance.org is not like banks and other financial institutions that check their customers’ credit ratings. We don’t care about your past credit history provided you meet our minimum set loan requirements you are guaranteed to receive a loan from us. You can read our terms and conditions for more clarity.
7.How long does the application review process take?
Pay-day-advance.org employees will respond to your application in a period of not more than twenty four (24) hours. The average response time is usually two to ten hours but it can sometimes delay depending on the number of application forms that we receive. You can hasten this process by ensuring that you fill out the online forms correctly.
8.What about the fees charged?
Be advised that the fees charged by pay-day-advance.org are among the most competitive in the industry and well within the limits of the law. We take no pride in over-charging our customers. Our sole purpose is to make significant profits without overburdening our customers and plunging them into further debt.
9.Who else knows about my loan?
The only parties that are in the loop about your loan are you and pay-day-advance.org. All the information you provide to us via your online application is treated in a highly private and confidential manner. Don’t worry about hackers. All our online transactions are carried through highly secure servers that utilize the highest and most recent technology.
10.Can I receive a loan on weekends and public holidays?
Unfortunately our offices are not open on weekends and public holidays. We encourage our customers to apply for loans on weekdays and send in their applications before public holidays. All applications sent on a public holiday will be processed the following day and all applications submitted on a weekend will be treated as requests sent in on Monday. Be advised.