Articles for Payday Loans
Save money and make prudent decisions. Our articles and analysis aim to provide fact-based analysis to make it easier to understand borrowing, fees, rates, and payments. Our articles can help you make informed financial decisions to protect yourself and save money. Get the facts so you can make a decision that's best for your situation.
Many online payday loan lenders today offer a no faxing payday loan application process. Generally, this means that consumers do not have to fax in any documents to apply and qualify for payday loans. Even so, it’s important to understand how lenders that offer a no faxing payday loan application process can determine if a consumer qualifies for a loan.
New Payday Loan Finder and Application Service
We spent the last month redesigning and adding two new services to The Payday Hound:
Payday Loan Search Tool
The Payday Loan Search tool filters through our database of lenders based on price, reputation, ranking, and geography. Payday Lending is regulated by each state so our filters help you get to a lender
Payday Loan Requirements
We receive many calls asking about payday loan requirements or eligibility. Payday loan requirements are surprisingly easy. In general payday lenders require the following:
Some lenders have income requirements of $1,000 to $1,200 a month. A direct deposit is required so payday lenders can deposit cash into your account and withdraw loan payments.
No Credit Check
NOTE: Wells Fargo stopped offering this product in May of 2014 based on pressure from media, advocacy groups, and regulators. We feel this is an unfortunate outcome as it decreases options for consumers. The Wells Fargo product was one of the best with the lowers fares and highly regulated collections.
Wells Fargo recently entered the payday lending space with
There are two types of short term loans in the market that are underwritten based on your paycheck: payday loans and installment loans.
Payday versus Installment Loans
Payday loans are a single advance on your paycheck. Once approved, money is deposited into your checking account the next business day. Then on the next payday, the loan amount plus fees are