What Kind of Questions Should You Ask About Payday Loans?
August 27, 2020 | Emma Frost
It’s finally happened. The expensive emergency that you’ve been warned could happen. Despite all of your careful financial planning and preparation, an emergency cost has skewed your budget and sent you scrambling to search for extra money within your already tight budget. The good, albeit sad, news is that you’re not alone. Over half of working adults in the United States are living each month paycheck-to-paycheck, with many more reporting less than $400 tucked away in savings to handle an emergency. While it’s true that any amount is better than nothing but when your savings fall short, what options are available to you?
One such option that can bridge the financial gap is payday loans. Payday loans are a short-term type of loan that can be obtained quickly and with little hassle. If the above example sounded all too familiar, you’re in luck because finding payday loans in Gainesville, FL is easier than ever before, thanks to Fast Payday Loans, Inc.
Before you jump into applying for one of these convenient loans, you should ask a few questions that will prepare you for applying and obtaining one. Here are the questions you should keep in mind.
How Much Money Can I Receive?
Before I answer this, it’s important to first have an idea of how much money you need. Different emergencies require different amounts of money and you should always take note of how much money you need in order to properly fix your situation. Having an amount in mind will better prepare you to meet with the representative.
Once you’re approved for your payday loan, you can receive up to $1,000, which can go along way when it comes to handling a financial crisis.
Does Applying Take Long?
In short? No! We understand that when an emergency happens, you have to deal with it quickly. That’s why we’ve streamlined the process to make it as fast and straightforward as possible. You start by filling out an online form that will allow one of our representatives to give you a call to schedule a face-to-face meeting. After some brief paperwork, you’ll find out whether your approved or not and, if everything goes well, you can be in and out in minutes. The entire process can take as little as 30 minutes!
What Can I Use a Payday Loan For?
Payday loans are versatile. Whereas some traditional loans require you to provide a letter of intent stating how you plan to use the loan money, once you’re approved for a payday loan with us, we won’t monitor how you use it. It’s yours the moment it enters your bank account.
Some common uses for a payday loan include:
- Emergency Bills: Accidents happen and hospital bills are some of the most expensive bills in the country, even with insurance.
- Necessary Repairs: Whether an appliance in your home breaks or you find yourself in need of a replacement tire for your car, these expenses can add up, making it hard to fit them into a budget.
- Debt Consolidation: Another common reason that people use payday loans is debt consolidation, which can be handy if you’re struggling to pay off a series of smaller bills and charges.
While these are all options, the bottom line is that your payday loan use is up to you!
What Do I Need to Apply?
Applying is easy thanks to the online form that can be started from any computer. During the meeting with the representative, you’ll be asked to provide the following pieces of information that will determine how much money you’ll receive:
- A driver’s license or state-issued I.D. to determine you’re over the age of 18.
- A blank check from an active checking account in your name for the deposit.
- Your most recent paystub as proof of employment
That’s all of the information that you’ll be asked to supply for your application.
Will My Credit Score Affect My Approval?
Your credit score won’t affect whether or not you’ll be approved. What sets payday loans aside from other options on the market is that we don’t take a look at your credit score to determine your eligibility. Your financial past doesn’t define your financial future which is why we welcome all forms of credit, good, bad, or nonexistent.
What If I Have Questions After I’ve Been Approved?
You’ll have ample time to ask any questions or voice any concerns throughout your application process, either on the phone or during the face-to-face meeting. Your representative is your payday loan expert and they’re more than happy with anything you need, even if you have questions after you’ve left the store. You’re more than welcome to contact us either through a phone call or through the Live Chat that’s offered through the homepage. We’re here to help with whatever you need.
Is There A Store Near Me?
While you’re filling out your online form, you have the chance to select the store that is nearest to you, but we serve several locations throughout the state of Florida to make sure you’re never far from financial assistance. Whether you’re searching for payday loans near me in Gainesville, FL, or traveling through the state, we’ve got your back when your budget fails to get you through your situation.