One month payday loan

one month payday loan

1 Month Payday Lenders For US Residents

See Also: Doorstep Loans (UK Only)

1 Month Payday Loans

Payday loans are by their very nature always for a very short period of time, usually up to 1 month. The general rule when you apply for a loan is that you will repay the full amount on your next pay day. The length of the loan therefore depends on the day you apply and how far that is from when you next get paid.

As long as you apply for a loan 1 month before you are due to be paid, you will be able to get a 1 month payday loan if you approach an appropriate lender. Some lenders only offer loans to people who are paid on a weekly basis, and some lenders allow you to select when you wish to pay the loan back, which could even be beyond your next payday.

1 Month Payday Loans - No Credit Check and No Faxing

The best way to get a 1 month payday loan is to apply to a few reputable lenders who offer loans to people who are paid monthly. To be eligible for a loan from most good lenders you will normally just need to be resident in the country the lender operates in, be over 18 and earning above a certain amount each month.

While there are still companies that carry out credit checks and ask for documents to be faxed through, there are plenty that do not require such things and have very fast, totally online processes. A good lender should be able to offer a 1 month payday loan without requiring a credit check, because your credit history is really not relevant. They are not asking you to keep making regular payments over an extended period of time, so all they should need to know is that you have enough money coming in next month to cover the amount you borrow and that you have a bank account that can be used to make the repayment.

In terms of faxing documents and other proof through, these things only serve to slow down the process, and with a 1 month payday loan, every day counts. This type of borrowing is so short term that having to wait a few days while details are sent and checked can make a huge difference. There are many companies that do not require this sort of extra evidence, though occasionally even the fastest lender may require something if part of your details cannot be verified through their usual online systems.

1 Month Payday Loans - Direct Lenders Or Brokers?

While direct lenders often have the most streamlined online services, there are pros and cons with whether to use direct lenders or brokers, and it depends on your situation. A direct lender ought to be quicker as they

do not need to run your application past any other lenders. They should be able to assess your application immediately and give you a quick response and then a fast delivery of your money.

Brokers on the other hand may have processes that take longer because they involve passing your details on to various lenders and getting offers back from them, which may all have slightly different terms. The advantage, however, is that you increase your chances of being accepted by having your application put in front of lots of different lenders at the same time.

1 Month Payday Loans: Choose Your Lender Carefully and

Pay Back Your Loan On Time

You need to exercise some caution over where you get your 1 month payday loans from, as not all lenders are quite as ethical as they should be. There is a real danger with this type of lending that you can get into serious debt quite quickly if you are not careful, and choosing the wrong lender can make it easier for this to happen.

The problem is that payday loans are designed to be paid back in a very short period, and are very rarely for more than 1 month. With a reputable lender the fees you pay for taking such a loan are not unreasonable as a one off payment, but as soon as you extend the loan period and look at those charges as ongoing interest rates, they can be horrific. Less reputable companies are more than happy for you to be late with your repayment, so that they can apply excessive penalty charges. These charges and interest build up quickly and soon outweigh your main loan amount, making it harder and harder to ever get rid of the debt.

The best starting point is to look at the list of Recommended Lenders on the main Payday Loans page of this site. This is updated regularly and includes many excellent companies for both US and UK residents.

Need A Loan For Longer Than 1 Month In The UK?

Visit The Doorstep Loans Page For A More Flexible Option

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Category: Payday loans

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