Free No Fax Payday Loans Revealed

By: Robert Walter

A few years back hardly anybody had heard of a payday loan. Now theyhave become a $40 billion dollar a year business. Payday loans are avery controversial topic, because the interest rates are extremelyhigh. You might wonder - since the interest rates are so high, whywould anybody want a payday loan? They are easy and fast. Usually asmall form to fill out online, most places don't even do a credit check.

Who Qualifies for a Payday Loan?

Usually,you need to be employed for more than 6 months and gross a thousanddollars a month plus. Or if your on a disability pension you need togross $800 a month.

Why are Fax Free Payday Loans Important?

Acouple of years back most lender made you fax in a ton of information.This could include, identification, bank statements, pay stubs, W-4forms etc.

Now a lot of lenders don't require so muchinformation. Usually you will provide your information by filling out aform on the lenders website. This will help speed

up the process.How fast can the money show up in your account? Most places willdeposit the money in your checking account within 24 hours. Some arefaster and some slower.

Exercise Caution

Althoughpayday loans are fast and easy to qualify for. The interest rates arevery high, and if you miss payments you can end up paying even moremoney in compound interest and late penalties. Some people even takepayday loans to pay off previous payday loans. This can ruin youfinancially. I would recommend only taking a payday loan if it is anemergency and you have nowhere else to turn. If you have no family orfriends to turn to in your time of need and there is absolutely noother way for you to come up with the money you needPsychology Articles, a payday loanwhen not abused can be a blessing.

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