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Finding One Hour Payday Loan Lenders
Everyone needs cash in an emergency. Be it for medical expenses, unforeseen car repairs or any hardship that you might face. One hour payday loans used to be difficult to find. Going from loan center to loan center in an attempt to locate lenders who would extend a short term loan to help alleviate your financial misfortunes. Not only are lenders available on a walk in basis but there are literally hundreds of one hour payday loan providers now available online. These lenders provide short term loans for overdue bills or any other financial bind you may find yourself in between paydays. Lenders these days actively solicit customers for payday loans because of there ease of delivery and the profit margin for them.
There are two basic types of lenders in the marketplace willing to write you a loan. Direct and indirect lenders are both willing to deal with borrowers but they have differences that make them unique in there approach. While indirect lenders serve the same purpose as direct lenders their methods are more tedious and time consuming. Much like what lending institutions such as banks and credit unions charge they are as a rule more expensive because they involve third parties to help them establish your credit history in their attempts to approve your loan.
In contrast direct or no teletrack lenders deal with the borrower directly thus eliminating the middleman and enabling them to provide services more inexpensively and much more quickly. Most online loans can be completed in a matter of minutes and the money made available to the borrower instantly after approval. If you are at least 18 years of age, employed for 3 months or more, and have an active bank account with direct deposit access you are well on your way to being approved for a one hour payday loan. These loans are quick and easy to obtain and if you chose to apply for your loan online all transactions are transmitted over secure lines. Shop around and find a reputable company, that fits your needs. Compare interest rates and repayment terms.
Once approved your funds are deposited directly into your bank account and available for you. When your payback date, which was established at the time of your application, arrives the lending institution simply withdraws the amount due from your bank account. You get cash when you need it most and repay it when you have it. Because one hour payday loans are secured against your paycheck most everyone who meets the minimum requirements will be able to qualify for loans witch generally range between $100 and $1000. This built in security is also the reason that your credit history is not important to the lender. You have already assured them that repayment will be made. In the event that the funds are not available on the established due date the lender will give extensions but this is to be avoided as the additional fees and penalties that are levied against you are extensive and can become difficult to recover from. Handled in a responsible manner the online loan can and will help you through those financial bumps in the road that we all occasionally run into.
The Process Of One Hour Payday Loans
It can be a scary feeling having bills looming on the immediate horizon that you do not have the resources to pay for. Bills that are going to result in the termination of some type of service, your water or electricity for example. Many times people are fortunate enough to be able to borrow money from family or friends. But in those instances when no other type of assistance is available it is comforting to know that a quick cash advance can be easily obtained. The solution comes in the form of a one hour payday loan. These loans have become so readily available that anyone who fits just a few basic requirements can qualify for quick cash. If you are 18 years of age and have held the same job for the last six months then you could be well on your way to a one hour payday loan.
You can still find walk-in establishments that will help you out but these days most people simply go online to find sources for payday loans, there are many. An internet search will quickly turn up dozens of lenders willing to help you out of a financial jam and the application process is a breeze. You will need to have your banking information ready as they will need to know where to direct deposit the funds. Be certain that all the information such as account numbers, routing numbers, social security numbers, etc. are valid. Lenders have the means to verify this information and will reject your application if the information is erroneous. Lenders prefer to serve those employed outside the home and not self employed because of the fluctuation of assets that comes with self employment. The lender needs to know for certain that the money is going to be available when you repay date rolls around.
As soon as you complete your application and submit it online the lender will need to verify that you earn about $1200-$1500 a month. One hour payday loan companies also try and refrain from doing business with applicants who are in the military and people who’s income consists of receiving benefits. You will also be turned away if you have ever defaulted on a previous payday loan or you have a current loan out with another company. The approval process takes just minutes from the time that you submit your application. Once approved the funds are wire transferred directly into your account and are available for immediate withdrawal. When your loan comes due, generally no more than a month and usually just two weeks later, the lending institution simply withdraws the amount of the loan, plus interest and fees, back out of your account. It’s that easy. So don’t let the thought of overdue bills worry you, with a one hour payday loan literally at your fingertips you can borrow anywhere from $100-$1000 and avoid shut offs and reconnection fees and maybe in the process prevent another glitch on your credit history along the way.