TIPS FOR APPLYING FOR PAYDAY LOANS
Featured below are 5 tips to utilize when applying for a payday loan. If
followed, you will not only increase your chances for approval, but you will
get the best payday loan (maximum borrowing amount with most desirable
interest rates). If you have any questions about how payday loans work,
us. Get more info about getting the
best payday loans.
Apply for your loan in the morning
If you can, apply the second you wake up! We are not kidding! Bottom line,
the earlier you can apply, the better. Typically, lenders will begin to
close their day around noon.
Submit your application early in the morning
That's right, we are saying it again. We can not emphasize enough how
important it is to apply early in the day. Almost every payday loan lender
has daily caps or limits as to how many loans they will fund/day. Once they
reach their cap, they will not take anymore applications for the day. Some
lenders will take applications throughout the day, but tighten the
restrictions they impose for approvals as the day progresses. Therefore,
the later you apply in the day, the harder it is going to be for you to get
approved. In fact, the amount of lenders that will see your app upon
submission will likely decrease by 50% by mid-afternoon and by 75% by the
evening time. There are very few payday lenders that are full-steam 24/7.
Choice Personal Loans is a 24/7 provider of
payday loans. You
can apply with us any time of the day. Your chances of approval will be the
same if you apply at 6am and if you apply at midnight!
Fill out your application accurately
It is very important that you input accurate information when remitting your
payday loan application. Avoid leaving information out and do not try and
deceive the lenders at all. Don't forget that the United States is still in an
economic crisis and all lenders are looking for reasons not to lend. The
bottom line is that the information you input needs to make sense to
lenders. They DO want to help people with bad credit. But, if you lie about
your job, income or any other critical underwriting criteria, they will figure it out and deny your
request. In addition, any future lender that views any subsequent
applications, will see that you lied on your previous applications and most
certainly deny you again. To avoid a future of continuous payday loan
rejection, NEVER input false or erroneous information.
Sell yourself to any potential lender
Some lenders will contact you via telephone to verify information before
they decide whether or not to fund your loan. Therefore, relay any positive
information that you may have about yourself. If you are a borderline
approval, any extra info will help your case, and potentially put you over
into the approval zone. Payday lenders are the most understanding when it
comes to realizing that 'bad things happen to good people'. Everyone makes
mistakes and/or things happen that are beyond our control. Payday lenders
understand this, but you need to let them into your life by informing them
of all the bad that has happened and all the good that is going on now.
Communicate with your lender in the event that you can not pay your
loan on time
Did you know that over 50% of payday loans go into collections? The lenders
are fully aware of this. Therefore, you need to communicate with your
lender if you are going to fall behind. Falling behind is very common and
they will work with you by making an alternate schedule for re-payment. They
would much rather get paid in-full over a longer time period than have to
put your account into collections and potentially get paid a fraction of
what they are owed.
Payday Loan Tips For
You - Informative blog with additional information to consider
when applying for a payday loan.
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You Shouldn't Use a Payday Loan
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Benefits of Payday Loans
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