Friday, December 22, 2006
What is a Cash Advance, Payday Loan, or Paycheck Loan?
A payday advance provides you with an unsecured, short-term cash advance until your payday. Customers choose payday advances to cover small, unexpected expenses while avoiding costly bounced-check fees and late payment penalties. With Personal Cash Advance you can apply for a payday loan online and have your advance electronically deposited to your checking or savings account.
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What about Qualifying?
Qualifying for a payday advance is easier than qualifying for traditional credit. Personal Cash Advance does not perform credit checks. Your job and your paycheck act as your collateral. You only need to meet the following requirements:
• Currently have a job (or receive regular income)
• Make at least $1000 per month
• Are 18 years of age or older and a U.S. citizen
• Have checking account or savings account with direct deposit
Does the process take long?
Customers typically receive approval within hours of applying. Since the money is wired directly into your checking or savings account, you can usually have access to your funds the very next day
What if I have bad credit, NSF’s, charge-offs or a bankruptcy?
Not a problem! Personal Cash Advance does not obtain a credit bureau report to qualify you for a cash advance payday loan.
What about collateral to receive a loan?
No. Your job and your paycheck are your collateral.
Do I need direct deposit?
At this time we can only process your loan if your paycheck is direct deposited; it is the most secure way to offer loans as quickly as we do.
Is there an application fee?
Personal Cash Advance never charges applicants a fee to qualify for a payday cash advance loan.
How is the payday cash advance loan amount determined?
State law regulates and limits the maximum advance amount to between $100 and $500. Within that range, you qualify for a payday advance amount based on your current income
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