You can get plenty of good things from direct payday loan lenders. This is especially true when you find yourself at that point when you are between your last paycheck and your next one and somehow there is an expense that you absolutely need to pay for. Having this fast cash resource can make your life easier as you are waiting for the following payday to arrive.
When you are thinking of taking out a cash advance loan, there are a few things that you have to decide on and one of these is if you would like to go to a broker or to an online loan brokerage site. The other option is to go for a direct payday loans provider. Each of these options has benefits that you can enjoy.
One great thing about payday loans is that these can help you survive when you are in between paydays. You can get these payday loans without having to undergo a credit history check or putting up an asset as collateral. So this tells you that anybody who has a steady and reliable income source can apply for these loans.
With payday loans, you get the fastest transactions possible. Going for a direct lender is advisable if you are looking for speed in your transaction. Usually you can get a payday lender no matter what time of the day it is. You can also get faster approval by going direct compared to if you had gone through a broker or an online brokerage site. Usually a good payday lender is able to get you approval for your loan in no mare than a few hours after you have submitted the application form. This means that you can really get the cash that you require right away.
Another great thing about payday loans is that the amount of paperwork required is very minimal. Going for a direct lender considerably reduces the amount of documents that you have to provide. Most brokers require you to fax them a few documents before they process your application so this can take some of your precious time. If you go with a direct lender, you simply just have to give them your bank account details and they can transfer the cash that you borrowed onto your bank account right away.
There are several income criteria that you have to meet when trying to get a payday loan. The lender will need to check on your income status. You need a job that pays you salary each month or you need income from the government such as disability or retirement benefits. People classified as self-employed can have a harder time getting approval even if they do work with direct lenders.
You need to be earning at least $1,000 each month to qualify for these types of a cash advance. After you have gotten the proceeds of the loan, you pay back what you borrowed when your next paycheck comes. You may also choose to roll over the loan in case you are unable to pay it off right away.