4) Is the minimum age required to get a no fax payday loan 18 or 21? Once you are 18, you are considered an adult and can get a payday loan on your own, as long as you can meet the requirements of the lender.
5) Is it really faster to apply for payday loans online rather than going to a payday loan store in my neighborhood? Yes, if you consider the amount of time that you are going to spend driving to and from the payday loan store, in addition to the time you will spend in the store once you are there, you are better off time-wise to apply online. Normally it takes a person less than three mintues to apply for payday loans online.
6) I have a repo on my credit report and filed bankruptcy a few years ago, how will this affect my no fax payday loan application? Payday loan approvals are not based upon a person's credit score. Payday loans are used by a variety of people with credit issues. Unless you have other outstanding payday loans or are unemployed, you will likely qualify.
7) How much can I borrow? Payday loans are available from $100 - $1500. When you apply for payday loans for the first time, you may not qualify for higher amounts, however, subsequent loans will be more if you followed the terms of your first loan.
8) Will I need a co-signer or collateral for payday loans? No, you will not be required to have neither a co-signer nor collateral for an approval. This is one difference between payday loans and personal loans.
9) I am a college student, can I be approved for payday loans to help pay for school? It depends, college students can apply and be approved for payday loans if they can provide proof of income, proof of residency, and proof of id and meet any additional requirements of the lender. If you are approved for no fax payday loans, you are free to use the money as you see fit, there are no usage restrictions.
10) What will I be expected to pay when the loan becomes due? On or before you loan due date, you will need to pay the entire principal loan amount in addition to the interest fees. For example, if you borrow $100, and your interest rate is 25%, you will need to pay $125 when the no fax payday loan becomes due.