FAQ

What is a payday loan?

A payday loan is an unsecured, short-term cash loan obtained using your future income as collateral. These loans should only be used in real urgent financial situations. They are not suitable for long-term debt problems.

Can I get a loan from http://cheaploansdirectory.com?

http://cheaploansdirectory.com is not a lender and does not make lending decisions. http://cheaploansdirectory.com helps consumers easily find independent and licensed third party lenders quickly. We work with hundreds of loan companies nationwide and will source for the lowest fee loan offers. To start, complete our application form now and provide information to help you get a loan. Once submitted, http://cheaploansdirectory.com will try to connect you with the best lenders. Since every third party lender may offer different terms and conditions on their loans, you can compare APR, fees, repayment terms, renewal policies, etc to make your decision. Be sure to fully understand the lender’s terms and conditions before taking up the loan. You can turn down all loan offers if you do not understand or agree to their terms. For any questions or concerns regarding a loan, simply contact that lender directly.

Does http://cheaploansdirectory.com charge a fee for finding the best third party direct lenders?

Searching and comparing loan offers via http://cheaploansdirectory.com is completely free for consumers! Since http://cheaploansdirectory.com is not a lender, there are no fees directly associated with users. http://cheaploansdirectory.com simply helps you compare loan offers from nationwide lenders who may be able to help give you a loan. The rates and fees associated with a loan may differ among lenders.

What amount can be borrowed with a payday loan?

Typically, you can borrow up to $1,000 from direct payday lenders. However, not all lenders may offer the maximum $1000 dollars. How much money you can get also depends on your income and employment etc.

How fast can I get the money from a third party lender?

Loan approval is very fast once you submit our application form. An independent third party lender can wire the funds to your bank account immediately but the actual cash transfer time will still depend your financial institution.

What are the minimum requirements to apply for a payday loan?

http://cheaploansdirectory.com is not a lender and does not make credit decisions. Actual requirements to get a loan depends on the participating independent lenders who will have their own minimum requirements and these may be different among loan companies. Typical requirements to borrow a payday loan include, but may not be limited to:

18 years of age or older
U.S. Citizenship
Valid checking or savings account with direct deposit
Regular income of at least $1,000 per month
Not a regular or reserve member of the Army, Navy, Marine Corps, Air Force, or Coast Guard (or a dependent thereof), serving on active duty under a call or order that does not specify a period of 30 days or fewer

What information is needed to use http://cheaploansdirectory.com‘s free loan search services?

You must provide some personal, employment, and banking information as shown on this form, so that we can help you find prospective independent third party lenders. The information you provide must be accurate. Once submitted, independent lenders may verify your social security number or identity or other information.

Is the information I provide secure?

http://cheaploansdirectory.com respects your privacy and a variety of security measures are employed to maintain the integrity of your private information. All sensitive data transmitted between your browser and our system uses 128 bit Secure Socket Layer (SSL) encryption technology. Your use of http://cheaploansdirectory.com‘s services is strictly voluntary and is governed by our Terms & Conditions of Use and Privacy Policy.

Will independent third party lenders perform a credit check?

Independent lenders may perform a credit check or verify your social security number or check for identity fraud. Each lender makes their own decisions to a approve a loan. http://cheaploansdirectory.com does not make any credit decision in this entire process.

When must I repay my payday loan?

http://cheaploansdirectory.com is not a lender. Repayment period for payday loans may vary for every independent third party lender. You should contact your lender directly with any questions regarding payment.

What if I cannot pay back my payday loan according to its terms?

If you cannot repay your loan as agreed, your lender may:

Add late fees
Send your account to a collection agency
Report you to a consumer reporting agency which may affect your credit score
Allow you to renew, extend or refinance your loan which involves additional fees, charges and interest

http://cheaploansdirectory.com is not a lender. Contact your lender for specific information regarding your loan terms and the implications for non-payment.