• Loans up to $1500 for any expenses
  • Quick application review & approval
  • Most application get approved
  • No need to fax any paperwork
  • Bad credit score? No problem
  • Apply and get your payday loan!

The Basics of Payday Loans

Know more about payday loans

Are you looking for information on how you will be able to receive a payday loan? Read more to find out.

Payday24h.com does not deal in cash or giving away payday loans online. This site is solely online to connect you to a licensed lender who is ready to offer you a loan. We are in the business as a facilitator and want to help you out as fast as possible in order to meet your emergency cash needs. By going through us, you will not need to waste your time driving from one lender to the other seeking payday loans. You can do it sitting in the comforts of your home and by filling out the online payday loan application form.

There will not be tons of paperwork that you need to meet in order to get a loan and you do not have to wait for days or even weeks to get the loan approved.

The normal loan disbursement practices you come across in traditional banks are not practiced by us. We try to help you get a loan as soon as possible.

Criteria you should meet:

Like other loans, there are certain criteria you need to fulfill in order to be eligible for the payday loan.
  • You must be 18 years old and a US citizen.
  • You must be employed at the time of seeking the loan and must be earning a minimum of $1000.
  • You should not be a reserve member or an active duty member of any US military branch.
  • You should have a valid bank account where the money can be deposited.
It is also important that you have a valid telephone number and a residential address so that a lender can get in touch with you. If you meet all the above criteria, then you can receive the payday loan in the United States. You can get more information about the eligibility of getting payday loans on our FAQ page.

How to get a payday loan?

Requesting for a payday loan through our website is very simple and easy. You will have to fill out the simple online form and then click on submit option. Your loan request will be forwarded to the licensed lenders we have a tie-up with. They will carry out a review of your information and decide on whether you can be allowed a loan or not. The process would take a maximum of 3 to 5 minutes.

Make sure that you fill up the online form with information as accurate as possible. Any discrepancies in the information will lead to longer processing time or even instant rejection. Also here are some tips on how to have your payday loan request approved.

There are certain lenders who might seek additional information. They might ask you to fax a certain document or to upload a document on the website. You should not delay in sending the documents that are called for.

Once a lender is satisfied with the form and is ready to accept your loan request, he or she would be coming out with a legally binding payday loan contract. The contract has to be read carefully before you sign on the dotted lines. The contract would have details of the terms and conditions of the loan and would include the interest charges, the payment schedule, and the process to get a loan extension and so on. You should understand everything that has been written in the loan contract before signing it. You should also keep a close eye on the extra changes that will be collected from you. It is important that you do not accept the loan amount without signing a loan contract. The contract will save you from unfair or excess service charges and greedy lenders. No matter you are having a bad credit, you will not face any automatic disqualification when seeking a payday loan. There are plenty of factors that are considered to make you eligible for a loan like your credit history, current debt your income and the place and state where you reside.

Getting the loan

Once a lender is ready to offer you the loan that you are seeking, he or she will deposit the same in your bank account that you have mentioned in the form. The amount will be credited to your bank account within one business day. The deposit might take a bit longer depending on the bank’s requirements. You can get the loan credited to your account if you submit the loan form on a weekday and also during the banking hours. The cash transfers take a longer time during weekends and bank holidays.

Repaying the loan

The loan has to be repaid according to the terms set in the loan contract. You pay payday loans with a single payment. The lender will automatically deduct the loan amount along with the interest and the service charges from your bank account on the date that you have agreed upon.

If you fall behind the repayment schedule, you will need to pay extra fees and late payment charges. These charges can be hefty. Hence, ensure to pay payday loans on time.

You will have to face serious consequences if you are not repaying the loan on time. The lender has every right to sue you if you do not repay the loan on the date mentioned in the loan contract. Your current debt will increase and your credit rating will also suffer. Here you can read more about how to get out of payday loan debt. You will have to pay for the legal fees along with the due amount, if the matter goes to court and gets settled there.

If by any chance or difficulty, you are not in a position to repay the loan on the date agreed upon, it is better that you get in touch with the lender and seek a loan extension. The details about extending your loan due date would be clearly mentioned in the loan contract that you both have mutually agreed upon. This way you can save yourself from the embarrassment of going to the court and also for loan settlement.