Payday Loan Online (FAQ)
What
is a Cash Advance, Payday Loan, or Paycheck Loan?
A payday advance
provides you with an unsecured, short-term cash
advance until your payday. Customers choose payday
advances to cover small, unexpected expenses while
avoiding costly bounced-check fees and late payment
penalties. With Personal Cash Advance you can apply
for a payday loan online and have your advance electronically
deposited to your checking or savings account.
What
about Qualifying?
Qualifying for a payday
loan advance is easier than qualifying for traditional
credit. Personal Cash Advance does not perform credit
checks. Your job and your paycheck act as your collateral.
You only need to meet the following requirements:
- You're
currently employed or receive recurring income
regularly.
- At
least $1000/month if employed or $800/month
if on a fixed income.
- Your
paycheck is direct deposited into your savings
or checking account.
Do
I need anything else?
After completing an application,
you will be asked to fax in copies of the following
documents:
- Copy
of drivers license, State issued ID or Military
ID.
- Copy
of a bank statement within the last 30 days.
- Copy
of a personal check marked "VOID".
- Copy
of your most current pay stub.
Does
the process take long?
Customers
typically receive approval within hours of applying.
Since the money is wired directly into your checking
or savings account, you can usually have access
to your funds the very next day.
What
if I have bad credit or a bankruptcy?
Not
a problem! Personal Cash Advance does not obtain
a credit bureau report to qualify you for a cash
advance payday loan.
What
about collateral to receive a loan?
No.
Your job and your paycheck are your collateral.
Do
I need direct deposit?
At
this time we can only process your loan if your
paycheck is direct deposited; it is the most secure
way to offer loans as quickly as we do.
Is
there an application fee?
Texas
Payday Loan never charges applicants a fee to qualify
for a payday cash advance loan.
Do
provide payday loans in all 50 states?
Yes, at this time our lender
is able to provide payday cash advance loans to
clients in all 50 states. We prefer you picking
the state you live in on the left side of this screen
and visiting our partners site to submit your state
by state application.
Do
you offer payday loans to Canadian Citizens?
Yes,
we do have a Canadian payday loan lender, please
click on This
Link To Apply.
What
if I need to reprint my Loan Agreement documents?
You may contact us info@texas-payday-loan.com
and we will assist you.
Is my application and financial
information secure?
Absolutely. We respect
our customer’s privacy needs in managing their
personal finances. Our site uses a variety of security
measures to maintain the safety of your personal
information. All sensitive information transmitted
between your browser and our website uses 128 bit
Secure Socket Layer (SSL) encryption technology.
How
often should I use this service?
Whenever
an immediate or urgent need arises, Personal Cash
Advance is here to help. It is important to remember
that a payday cash advance loan is a short-term
answer to an immediate cash need. Payday loans are
not intended for repeated use in supporting an on-going
budget situation from payday to payday. Repeated
use or reliance on payday loans can create serious
financial difficulties. If you need help with credit,
budgeting or debt management, please contact the
National Foundation for Credit Counseling at 1-800-388-2227.
How
is the payday cash advance loan amount determined?
State
law regulates and limits the maximum advance amount
to between $100 and $500. Within that range, you
qualify for a payday advance amount based on your
current income.
How
are fees established?
Our
fees are competitive and in compliance with all
applicable state and federal laws.
Why is there so much information
in the Loan Agreement?
The
Agreement is a contract that complies with all applicable
state or federal disclosure requirements. It completely
outlines the terms of the payday advance, including
the cost of the service fee both as a dollar amount
and as an annual percentage rate (APR).
How
soon do I have to pay back the loan?
Payday
cash advance loans are generally repaid back when
you receive your next paycheck. The standard time
for loan repayment is usually no less than seven
days and no longer than eighteen days. Of course
you may also pay back your loan at anytime without
any prepayment penalties.
What
if I can’t repay the payday loan in full on
my due date?
We
have different payment options available for our
customers:
1.
Paying the loan in full on the maturity date listed
on your loan agreement.
2.
Paying
the finance fee and a portion of the principle on
or before the maturity date.
3.
Paying only the finance
fee on the maturity date.
©
2004 Texas Payday Loan & Texas Cash Advance
Inc.
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