(PRWEB) March 08, 2012
Payday.net announces the addition to its site of a new informative article that provides insight to customers about the payday loan application process. Payday loans are available for customers who need small, short-term loans to cover emergency expenses such as medical bills or auto repairs, as well as necessary monthly costs for items such as rent, food or utilities, because they don’t have the money on hand since they’re between paychecks. The educational article, called “How It Works,” seeks to help potential borrowers make sound financial decisions so they can avoid long-term credit problems.
“The primary goal of Payday.net is to guide our customers through the payday loan process and to outline the benefits and risks associated with payday loans,” says Payday.net spokesperson Beth Lancaster. “The new article is well-written and easy to understand, and it provides detailed information about loan application qualifications, lender procedures and loan amounts, as well as interest rates and fees. This information can be accessed directly from our homepage.”
Potential loan applicants can apply for bad credit payday loans by completing the application form located on the Payday.net homepage. They can apply for these loans without submitting credit checks and they do not have to have good credit. The new article explains how customers can find lenders in their area and how much money they can borrow from them. Generally, customers can request loan amounts between $100 and $1,500.
The article also discusses loan repayment procedures. Borrowers usually must repay payday loans with their next paycheck. The repayment is drafted directly from the customer’s checking account on the date the loan payment is due. If borrowers cannot repay their loans on time, they usually can set up a payment plan with the lender.
Additionally, the article outlines the general qualifications for a payday loan. In order to possibly be approved for a loan, a borrower must be at least 18 years old; be a U.S. citizen; be currently employed with at least 90 days of employment at their job; earn a monthly income of at least $1,000 after taxes; have a checking account in their name; and have a valid email address and valid home/work phone numbers. After their loan is approved, a customer will receive their money, which is deposited directly into their checking account, within 24 hours. Payday.net offers this information to educate our customers about the payday loan process and to enhance our relationships with them.