The American payday loan market is worth $50 billion today. For every one cash crisis you face, there are a hundred programs available. With the popularity of payday loans on a rise, more than 10,000 loans stores have mushroomed in the US.
Fax Payday Loan is a type of cash till payday program and is generally under $1000. As the name suggests, a cash advance can be obtained by faxing the relevant documents to a loan company when you request for a cash advance. The lender, in turn, will perform brief credit checks, approve the loan, and transfer the amount to your checking account. These programs are the most easiest way to secure cash to cover up your urgent needs.
Bad Credit History No Worries
Having a bad credit may not necessarily eliminate your chances to get a cash advance. To obtain a cash advance loan, you must satisfy the following minimum criteria: a) you should have a regular job and must be working in the present organization for at least three months; b) you should have a checking account
Before finalizing any cash advance program, you should compare the rate of interest with different available options in the market. These instant program comes with various benefits. Firstly, for a these programs, you just need to fax your papers to the lender. This is anytime better than going over to the lender to submit the papers in person.
Secondly, the processing time is about a fraction of what it takes to get an approval for a traditional loan. Lastly, as soon as the loan is approved, the amount lands directly in your checking account. The amount you wish to borrow will depend on how much you earn each month.
Apart from the loan fees and annual percentage rates (APR), remember to check the following charges that may not be mentioned boldly:
1. Early repayment fees
2. Late repayment fees
3. Membership fees
4. Collateral requirements like pledging your car title
Ensure you have sufficient balance to pay back the cash advance in the stipulated time. The lenders secure themselves by obtaining a personal check. After the 14 day period (standard payroll period), the lenders withdraw the loan amount plus the fee; from your account. If your checking account falls short of cash, you not only invite late repayment charges on the payday loan, but also the bank charges for a check bounce. Always remember to repay the amount on the desired date; otherwise, you can fall in to debt trap.
A fax payday loan helps you obtain a cash advance, without any botheration. You can pay up your advance payday loan when you get your next pay check. Cash till payday loan should be borrowed for the shortest time period.