Payday loan advice for everyone - Penguin Finance

Payday loans are typically much easier to get than traditional bank loans and they are much quicker. A traditional bank loan can take weeks, a payday loan can sometimes be completed in as little as fifteen minutes but even at the longest typically take no longer than a business day. If you want a traditional bank loan you?ll have to meet some pretty strict requirements to get it. They?ll check your credit rating, and that?s just the beginning.

It is much easier to be approved for a payday loan but that doesn?t mean that they don?t have a set of qualifications that you?ll have to be able to meet. The quickest way to compare the different payday lenders is by visiting Online Payday Loans USA.

The first is generally the most obvious. You have to have an income, preferably a traditional job. While you may be able to find a payday lender that is willing to loan you money if you don?t have a job you?ll have to look long and hard to find them.

Don?t be surprised if you are in the military and you are denied a payday loan. It?s obviously not because you don?t have a job because you do, and an admirable one at that. The problem is that a recent law has made it illegal to charge members of the military more than 36% interest, and the typical payday loan carries a much higher interest rate than that. That doesn?t mean you won?t find one, there are payday lenders that have found a way to comply with that law but just to keep from wasting your time ask up front if they make loans to military personnel.

While the payday lenders don?t care about your credit score they do care about your previous experience, if you have any, with payday loans. If you haven?t paid off a previous payday loan there is very little chance you?ll be approved for another. Having a lot of overdrafts when they look at your checking account history can have an effect as well, although this is more of an issue to some than others.

Source: http://clubpenguintown.com/payday-loan-advice-for-everyone/

Alan Turing brave Stephanie Rice Meet the Pyro Karen Klein Colorado fires supreme court