How to Start a Payday Loan
For people that run short of money between paydays or when something unexpected comes up between pay periods, the payday loan can help you obtain money that you need to cover the expense. Although there are some limits on how much you can apply for, you will not know how much you can receive until you start a payday loan application and have a consultation with the agent that will be helping you.
Other People Are Reading
Things You'll Need
- Last paycheck stub
- Checking account information
- Driver's license or photo identification
Instructions
-
-
1
Apply using the application supplied by the payday loan store you select. The application requires all personal information including your Social Security number, driver's license number and information about your residence. You must have a phone number when applying online or in person and an email account if applying online.
-
2
Supply information about your current employer, including months and years you worked for this employer, what the date of your next two paydays are and the amount of your last paycheck. If you are in the military, you must include this information in the employer section. Select how you receive your paycheck each payday. It should be one of two ways, direct deposit or paper check.
-
-
3
Enter information about your bank such as the bank name, routing number and account number of your checking account. This information is used to repay the payday loan. When the loan comes due, the payday store will withdraw the money from your account on the specified date.
-
4
Read the terms of the loan, agree to the terms by checking the "Agree" box and sign your name with the date. It is important that you read the terms carefully before signing this agreement.
-
5
Wait to be interviewed by an agent if you are applying in person or for an email stating that your application was reviewed by an agent and what the outcome is per the terms of the loan.
-
1
Tips & Warnings
Some states don't allow military personel to apply for payday loans.
