Get Payday Loans by Phone – Help from Nation21
By definition, payday loans by phone are loans that one can access purely on the phone. While most payday lenders are found on online platforms, there are some borrowers who for one reason or another prefer to apply for the process by phone.
This offers such people a chance to do so simply by dialing a phone number provided on the lender’s website.
While the terms are basically similar to ordinary payday loans, some benefits derived from applying for a payday loan on the phone include instant response on the lending decision, fast application process, usually not more than five minutes and quick access to cash, should one qualify for the loan.
Also, there is no paperwork involved, especially in states where the laws allow for fax less lending terms. This makes the process smoother and less cumbersome.
By logging on to Nation 21 website, one is able to link up with lenders who specialize in advancing payday loans by phone. We strive to update information on our site so as to ensure that the borrower is able to compare the rates and terms of various lenders thereby providing borrowers with the information required to make an informed decision on who to choose when applying for a payday loan.
Requirements for a 1 hour Payday Loan by Phone
As mentioned above, a payday loan is an advance on your next paycheck. This means that one of the fundamental requirements is for one to have a job. For the application to be completed within an hour , one has to show proof of employment, mostly in the form of a paystub.
One has to be at least 18 years of age, although this varies state to state. Some states have a minimum age requirement of 21 years for one to qualify for the payday loan.
Also, it is mandatory to have an operational checking account or prepaid card. This is the account where the loaned amount will be disbursed to. In most cases, the account is also used to make repayments of the loan when it is due.
While payday loan lenders require proof of steady income to determine one’s application, some allow those on Social Security and/or disability benefits to qualify. Note, however, that military members and their dependents do not qualify for payday loans.
Factors that Affect Loaned Amount
Different states have different rules that govern the amount of money one can borrow from payday lenders. It is important to note what the state legislation is regarding such loan to avoid disappointments when applying for a payday loan.
As a payday loan is supposed to be paid from your paycheck, it is logical to assume that your paycheck amount is going to play an important role in determining the amount that can be advanced to you. This serves to prevent any difficulties when it comes to repaying the loan.
Application Procedure – 24/7 Service
The application procedure for a payday loan by phone is simple and fast. One has to just log on to the website and find the provided phone numbers of listed lenders.
Since it is a process that requires making a phone call, you dial and speak to the customer care representatives who are on call 24 hours a day, 7 days a week. Submit the information required and if they deem your application successful, they give you feedback almost immediately.
The funds are then disbursed to your checking account that you provided, usually within 24 hours or on the next working day.
Discuss Your Issues with Lenders
A payday loan is supposed to be repaid on the next payday. However, if this falls less than two days from the date of approval of the loan, the lender may extend it to the next payday at no extra cost.
In case a borrower is not able to repay the amount on the due date, some lenders do allow for a rollover. This will enable one to pay the loan on the next pay date. However, you have to pay for the administrative fees incurred on loan.
Always contact the lender beforehand to discuss any issues you may have regarding the repayment of the loan to remain in good standing with them.
Here at Nation 21, it’s our pleasure to help match you with lenders who fit your profile.