Bad Credit Guide realizes that the cash advance payday loan process
is often confusing and often difficult to understand. We are hopeful that we can eliminate some of those difficulties with the aid of this faq. If not, please don't hesitate
to send us
anand we will be happy to assist you!
Q:
How Does a Payday Loan Work?
A: Just fill out the online application for instant pre- approval. If approved, your loan proceeds will be deposited directly into your personal checking account by ACH. When your loan payment is due, the company with which you created the payday loan will automatically debit ONLY the finance charge from your checking account unless you want to pay the loan in full or other payment arrangements are made for a partial payment of your principal. Additional fees will apply if you choose the option to extend your loan. This option may be used up to four times before you will be required to make a payment on your principal. This will happen automatically unless you contact us for other arrangements.
Q: How long does
the a faxless payday loan application process take?
A: For 90% of our loan partners, the application only takes a minute to fill out at best. If approved, your loan amount will be deposited into your personal checking account the next business day (if approved by 6PM EST) by ACH. If you are denied, you will receive an e-mail notification. You can also call our fully automated system two hours after you complete your application to check your status.
Q: What are the
interest rates for my faxless pay day loan?
A: The Annual Percentage Rate (APR) on a typical 14 day loan is 782.14%, which is $30.00 per every $100.00 borrowed. Additional fees will apply if your loan is refinanced. This high APR is precisely why we at Bad Credit Guide advise our customers to look elsewhere and consider all other options before taking out a payday loan.
Q: How much
does it cost to fill out an application?
A: There is absolutely NO CHARGE
to apply for a bad credit faxless payday loan with Bad Credit Guide's participating lenders!
Q:
What type of bad credit loans can I qualify for?
A: You may apply for a faxless payday loan.
Q:
Is there anything that I should know before I fill out the faxless payday loan application?
A: It is of utmost importance to understand the loan's terms and, above all, understand that the astonomical APR could be considered loan sharking. These types of loans are on Bad Credit Guide mostly to warn customers NOT to buy into them.
Q:
I have a payday loan company? Can I place an ad on Bad Credit Guide?
A : No, you may not. We do not consider Payday loans as an honest industry. Payday loans are here to warn customers away from them.
FAXLESS payday loans!
