PayDay Loans F.A.Q.
What is a Payday loan?
A payday loan also known as cash advance and payday cash loan is an unsecured short-term loan that provides you with quick cash you are to pay back on your next pay day. Payday loans are obtained when there is a need to cover unexpected expenses (medical bills, car repairs, whatever). With LOANSDALE.COM you can apply for a payday loan online and receive your cash advance in several hours or in a night.
Are there any limitations for the use of the payday loan?
You can use the funds you obtain for any possible goal as you do not have to state the reason while proceeding with your application. However, cash advance loans can provide you only with a limited amount as you are to pay back in a short period.
What is the amount I can borrow?
Depending on your needs you can apply for up to $1,500 with LOANSDALE.COM. However, in case you refinance your payday loan on time we can increase the stated amount for any your prospective cash advance loans with LOANSDALE.COM.
How is the interest rate estimated?
Different lenders charge varies interest rates for their payday loans. The typical rates are between $25 and $30 for each $100 borrowed. Thus in case you borrow $400 you the fee you are charged with is from $100 to $120.
What requirements should I meet to qualify for your payday loan?
At LOANSDALE.COM we require that you meet only the basic requirements and do not perform credit checks. Please make sure you your meet the following requirements:
- You are no less than 18
- You are an US citizen
- You are currently employed otherwise you should receive regular income
- You monthly income exceeds $1000
- You have a valid checking or saving account where we can deposit the funds you borrow
How can I apply for a payday loan online?
At LOANSDALE.COM the entire process of application is very simple. All you have to do is to fill out the application and then submit it. The approval of the application comes as soon as in several minutes in case you apply on any business day.
What information should I provide?
To fill out the application for a payday loan you should state the following:
- Your full name and address
- Employment status
- Your monthly income
- Bank account details
- Picture identification
What are your privacy and safety policies?
We do everything possible to keep your information private. LOANSDALE.COM uses a 128 bit Secure Socket Layer (SSL) to encrypt your personal information and all the transaction made via our LoansDale.com.
Do you charge an application fee?
LOANSDALE.COM does not charge any fees for online payday loan applications.
Am I obliged to take the loan after I submit my application?
No. After you fill out our application for a payday loan online you do not have to accept the payday loan offered by the lender. You can continue finding better options and ask us any questions concerning your cash advance loan and the best solutions available. When you decide to go on with the application you should confirm you information.
Do you offer payday loans for people with bad credit?
Unlike other lenders, at LOANSDALE.COM we do not refuse the applications from people with bad credit. Notwithstanding your credit history you may still be eligible for a cash advance loan with LOANSDALE.COM.
Do I need to send your faxes?
No, at LOANSDALE.COM we offer fax free payday loans as faxless cash advances are much more convenient for customers.
Can I take several payday loans simultaneously?
No, you can take more payday loans only after you refinance all your current payday loans.
Do you send my information to my employers?
No, we respect our customers' privacy and keep all the loan information and details confidential. We do not inform employers about the payday loans their employees obtain.
Do I need direct deposit?
Yes, direct deposit is the safest way to transfer the funds therefore you should have a banking account with direct deposit. Besides, direct deposit allows quick transactions so you can get your funds in a shorter period.
When do you transfer the funds?
After you submit your application for a payday loan, we approve it in less than 30 minutes in case you apply on any of the business days. Once your application is approved, the funds will be transferred over night. The due date for payday loan refinancing will be chosen to make your comfortable and ensure you against bounced checks and missed deadlines.
Will you notify that my payday loan application is approved?
We will send you an email stating that your application is approved. LOANSDALE.COM reserves the right to make adjustments to your loan approval until you receive the funds
When do I have to refinance my payday loan?
The refinancing of payday loans usually takes play on the next pay day (from 8 to 25 days after you obtain a cash advance loan). However, the terms vary from state to state.
Can I refinance earlier?
In case you can afford early refinancing of your payday loan, please contact us. Those who refinance early may get back but of the fee they are charged with.
What to do in case I can't pay back on the due date?
In case you refinancing on the due date is impossible you can apply for a loan extension.
Several payment options are offered at LOANSDALE.COM:
- Paying the loan in full on the maturity date listed on your loan agreement.
- Paying the finance fee and a portion of the principle on or before the maturity date.
- Paying only the finance fee on the maturity date.
Can I get another payday loan just after I repay the previous one?
The number of payday loans you can obtain is not restricted. However, please, make sure you understand that payday loans can provide only temporal relief and is not the way you can overcome serious financial difficulties.
You can read more about payday loans frequently asked questions on this excellent payday loans resource.
Testimonials
Loansdale acts professionally and by the way they are always there when needed. It was hard time and they really trusted me. This grants them an A.
Rachel F.Preferences
