Answers to Frequently Asked Questions about Instant Payday Advance Loans
Many people have questions about instant payday advance loans. This isn’t surprising because many people have heard about how easy it is to borrow money from a payday loan provider to get the emergency money they need to meet life’s unexpected expenses.
Here are answers to some frequently asked questions about instant payday advance loans which can help consumers learn about these products:
Q: What is an instant payday advance loan?
A: An instant payday advance loan is a short-term loan or cash advance that uses a borrower’s paycheck or other income source as collateral.
Q: What can you do with this loan?
A: People use payday loans to pay for a wide variety of emergency expenses. For example, some people use payday loans to pay for emergency car repairs. Other people use payday loans to pay for medical expenses, emergency travel expenses and other unexpected expenses.
Q: Where should people shop for the best terms for a payday loan?
A: People should consider shopping online for a payday loan from a direct payday loan because direct payday loan providers can save people a lot of time and money when they apply for a payday loan.
Q: How do direct payday loan providers save consumers time and money?
A: Direct payday loan providers can save consumers time and money because they do a better job processing a payday loan application than an affiliate or a middleman. This is true because a direct payday loan provider can bypass the middleman to approve the payday loan application and to provide funding for approved applications. As a result, consumers can get the emergency funds they need more efficiently by applying for a payday loan from a direct loan provider.
Q: Why should people shop for a payday advance loan online?
A: People should shop for a payday advance loan online because there are many direct payday loan underwriters who use the Internet’s efficiency to simplify the payday loan application process. For example, many payday loan providers such as the Payday Advance Loan Instant Company use a simplified online payday loan application process which involves no credit check and no faxing of essential documents.
This process has many advantages. For example, consumers who use this process fill out a short application that takes about three minutes to complete. In addition, most consumers can be instantly approved for payday loans using this process because the Internet makes it easy to approve an application. Finally, consumers can also receive their money on the same business day that they applied for the loan. As a result, it pays to apply for a payday loan online from a direct lender because you can quickly receive the money you need.
Q: Finally, what information do you need to apply for a payday loan online?
A: In general, direct payday loan providers such as the Payday Advance Loan Instant Company ask consumers to provide some basic personal and financial information. For example, most consumers usually provide their name, address, phone number and income information on their applications. Other consumers are asked to provide bank account information, a valid driver’s licence number and a valid email address. As a result, be sure to ask your payday loan provider for more information if you have questions about your payday loan application.