How to Get a Quick Payday Loan

In addition, once you have found the online cash advance loan companies you want to deal with, what is the best way to apply for a payday advance loan and not get turned down. We will discuss that here as well. Get your payday advance loan through a reputable personal loan company You want to find a personal loan company that is reputable, has the highest integrity, is honest and licensed. Place a priority on your security by looking to see if they are regulated by the state they are based in.

Has the loan company been around for 3+ years, and will they be around for a long time? Will they provide you with the best customer service around? Do they have reasonable rates and no application or sign up fees?

If a quik cash advance loan company is reputable, they will be licensed in the state they are in, and they won’t be afraid to tell you this. ALL companies that provide cash til payday loans MUST have a state license. Some states don’t even allow payday loans, so they will NOT issue a license to any company in that state for that purpose. When looking at a particular lender, if you don’t see information about their state license, e-mail them, or call them.

Ask them what state they are licensed to do payday loans in. (Don’t just ask them if they “have a license”, because this could just be a business license, and this alone is NOT good enough).

Ask any lender you are thinking of doing business with if they are licensed and regulated for doing payday loans in their state. Ask them about their data security. Ask them how long they have been around. You might be surprised at their responses. If they are cagey and evasive, go somewhere else!

How to apply for a cash til payday loan and get approved quickly

• Check the qualification policy to make sure you qualify. It does no good to fill out an application if you don’t qualify. It can also hurt your chances with another lender who is less strict.

• Make sure someone is available to answer your questions, (see our guarantee). Many lenders leave you wondering what’s going on. Although price is important, customer service is even more important. What if you are sent the wrong amount or worse, double-billed? What if the money was accidentally (no payday lender is perfect: sent to the wrong bank, etc.)

• Check the better business bureau to see if there are any complaints against a payday lender. By the way, this won’t work if the company is very new. Go with a company that has been around for at least 2 years or more.

• Make sure the payday loan company is really licensed and regulated.

• Be careful of your behavior to the customer service department. Being rude to the customer service department of a payday loan service will reduce your chances of getting a loan now and in the future. Would you want to give a loan to someone you barely know if they came up to you out of the blue and said nasty things to you or yelled at you?

• What do you do if the unexpected happens and you cannot pay off your loan? The best thing to do is to contact the payday lender as soon as you find out that you cannot pay them (due to your employer changing paydays, or other reasons). IT really helps if you can provide documentation or a contact (such as your boss, or payroll company), to back up your story. Most payday lenders are flexible, and would rather get paid late, then not at all.

Once you get a cash advance loan, remember the following SUPER important rules:

The number one rule: is don’t default on payday loans. ALWAYS pay them back! If you don’t, this causes you all sorts of problems, like extra NSF fees from your bank when the payments bounce, and NSF fees charged by the cash advance loan service.

Also the payday advance loan service may send your account to a third party collections agency. The collections company will be calling you and your family and friends at work and at home. In addition, in some states, the collections company can charge you DOUBLE what you owed to the original lender. They may also charge NSF fees if the your payments to them bounce.

As you can imagine, this is very expensive, not to mention embarrassing. We have seen some payday lenders (not to mention other types of “regular” lenders) take clients to court and sue them (and win). Then your wages get garnished. Employers cannot legally fire an employee for a single wage garnishment. However, firing due to multiple wage garnishments is legal (consult an attorney about that). More importantly, it really hurts your ability to get a payday loan with ANY lender. This is because defaulted loans are tracked in a national database and almost all payday lenders use this database.

I am not talking about Experian, Equifax or any of the “big 3” credit reporting bureaus. We are talking about a database that only payday lenders and some other consumer services, like rent-to-own furniture and appliance stores use. Also, if the payday lender does decide to send your account to a 3rd party collections agency, they may decide to report your defaulted loan to the “big 3” credit bureaus. This will hurt your ability to get a credit card, get a home loan, or get a car loan.

All of the above is VERY easy to avoid! Just make sure the payday lender is paid on time!

Secondly, while it is a good idea to shop around for a payday lender to do business with (we always use the web to shop around for items we might buy online, such as a book, or camera), it is a BAD idea to fill out APPLICATIONS on more than one cash advance loan service web site. Here is why: remember that database we told you about in tip #1 (above)? Well that same database tells payday lenders every time someone fills out an application with a payday lender. Now, please understand, its NOT a black mark on your credit at all. But any personal loan company is going to get nervous if it sees that you have applied to other cash til payday companies recently. Why? Because of the risk of the client not paying them back. They have to assume that you already have loans out. Since you have loans out, you can’t afford to pay them all back and your other regular monthly bills. Then the payday advance loan company gets left holding the bag, and they have to collect, which is no fun for them, or for you.

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