Paperless payday loans are easier to get because you don't have to fill out a lot of paperwork. But you still have to meet the requirements of the payday loan company. They may also take longer to approve you if they have to check your information by hand. Approval will happen quickly if the lender has good customer service.
No Paperwork Hassle
The best thing about a payday loan without paperwork is that you don't have to worry about filling out any paperwork. There's no need to look for bank records, old bills, or pay stubs. No need to rush to the local copy centre to send a fax. The whole process can be done online at any time.
Once you send your information over a secure connection, your payday loan lender will check it against their database to make sure it's correct. In less than an hour, you can find out if you can get a cash advance.
Must Still Meet Requirements
Even though a no-fax payday loan is convenient, you still have to meet the criteria for a loan. Even though there is no credit check, you usually need to make at least $1,000 a month from a job or Social Security. You must also have been working at your current job for at least 60 days, and sometimes longer.
You also have to be at least 18 years old, give correct contact information, and have a checking account that is open. Some lenders also want you to have at least $100 in your checking account and no NSF checks.
Process Time Takes Longer
Most paperless payday loans are quick, but the process can sometimes take longer. Most of the time, this happens when you misspell a word or switch around the numbers on your application. When this happens, the application is turned down by the computer, and a person has to check the information.
Check your application twice before you send it in to avoid these delays. You might also find that saving time by faxing documents.
Make sure you get the best service and rates when you choose a payday loan lender. Look for lenders that offer email or phone support for customers. This way, you can be sure that if there is a problem, it will be fixed quickly.
