People who are looking to obtain a small personal loan can find legitimate businesses in their community which provide these services. There are many advertisements which may appear online or through the mail, and they may not be reputable. Usually these businesses require several forms of identification to verify your ability to repay the loan. These personal loans are also called payday loans or cash advances.
In order to find one of these businesses, search under loans and payday loans either in your telephone book or internet. Examples of these stores are Moneytree and Check Into Cash. Stores can be found nationwide.
These businesses have other functions in providing services to their customers. These companies usually provide the customer the ability to cash their employer's check. A small fee is charged. One can purchase money orders, wire transfers, and they can pay their bills through these businesses. Other small purchases can be made like prepaid cards, and stamps. Other services like faxing or copying are possible, also.
These stores will require you to present paperwork or documentation in order for you to be approved for a payday loan. Most businesses require the following: a current bank statement, check stubs, proof of address, and check book. First, you must be a member of a bank with an open checking account. They would like to see two to three months of the last statements to assure you are in good standing with your bank. Next, they will need your last three or so check stubs to prove your employment to make sure the customer can pay back the loan. Next, they might need a copy of your telephone bill to assure you live at the address that you state. Lastly, you will need a check book matching your bank statement because you will write a check from which they will use to cash and receive your repayment.
The teller will collect these documents and review the items. Once approved, you can decide the amount you would like to loan. There are limits on the amount you can receive based on your monthly income. As an example, if you made less than $1500 per month, you may be eligible to only take $150 as a loan. However, if you made $3000 per month, you might be eligible for more, such as $255 per payday loan.
Each state has laws which only allow these stores to loan a certain amount to customers. Actual amounts in the following states are examples. Washington State can loan a maximum of $700, or Nevada can loan up to $5000 to people.
These loans do charge interest, and again, this applies to the state the loan takes place. These loans are short-term, and they are designed to be paid back at the next payday. They will use the check they required for approval, and it will be post-dated for the amount loaned plus interest.
The interest on these loans are quite a bit larger than a loan through a regular bank, however, the services at these cash advance businesses only provide short-term loans. They are not doing credit checks which helps those who need loans, and their credit may not meet a bank's terms. They also provide a good service for those who need some extra cash until payday. - 29904
In order to find one of these businesses, search under loans and payday loans either in your telephone book or internet. Examples of these stores are Moneytree and Check Into Cash. Stores can be found nationwide.
These businesses have other functions in providing services to their customers. These companies usually provide the customer the ability to cash their employer's check. A small fee is charged. One can purchase money orders, wire transfers, and they can pay their bills through these businesses. Other small purchases can be made like prepaid cards, and stamps. Other services like faxing or copying are possible, also.
These stores will require you to present paperwork or documentation in order for you to be approved for a payday loan. Most businesses require the following: a current bank statement, check stubs, proof of address, and check book. First, you must be a member of a bank with an open checking account. They would like to see two to three months of the last statements to assure you are in good standing with your bank. Next, they will need your last three or so check stubs to prove your employment to make sure the customer can pay back the loan. Next, they might need a copy of your telephone bill to assure you live at the address that you state. Lastly, you will need a check book matching your bank statement because you will write a check from which they will use to cash and receive your repayment.
The teller will collect these documents and review the items. Once approved, you can decide the amount you would like to loan. There are limits on the amount you can receive based on your monthly income. As an example, if you made less than $1500 per month, you may be eligible to only take $150 as a loan. However, if you made $3000 per month, you might be eligible for more, such as $255 per payday loan.
Each state has laws which only allow these stores to loan a certain amount to customers. Actual amounts in the following states are examples. Washington State can loan a maximum of $700, or Nevada can loan up to $5000 to people.
These loans do charge interest, and again, this applies to the state the loan takes place. These loans are short-term, and they are designed to be paid back at the next payday. They will use the check they required for approval, and it will be post-dated for the amount loaned plus interest.
The interest on these loans are quite a bit larger than a loan through a regular bank, however, the services at these cash advance businesses only provide short-term loans. They are not doing credit checks which helps those who need loans, and their credit may not meet a bank's terms. They also provide a good service for those who need some extra cash until payday. - 29904
About the Author:
Jimi Morrison writes articles about No Credit Check Loans Online and unsecured loan for tenant
No comments:
Post a Comment