| Nearly all lenders of payday loans demand that you | | | | turn you down for a loan. |
| have a checking account that has been open at least | | | | Lenders may also turn you down if your information |
| 90 days. The lender may also demand that you are | | | | for contact or references is invalid. As a result, if the |
| 18-years of age, and make at least $1000 monthly in | | | | company cannot validate your information, you can be |
| net pay. A lot of lenders demand that you have a | | | | turned down for a loan. |
| direct deposit on your checking account and have a | | | | A small number of lenders may turn you down if you |
| job for about 12 months. | | | | draw disability checks and/or welfare checks. Some |
| A good number of lenders will refuse you a payday | | | | lenders may approve you a loan if you are paid |
| loan if you have multiple bankruptcies on your credit | | | | disability. However, the fees on the amount borrowed |
| report or filed bankruptcy in the last year. This is | | | | are probably higher. |
| contradictory, because the majority of lenders claim no | | | | The largest part of lenders allots 14 days or 18 days to |
| credit checks. Therefore, how will the lender know if | | | | repay a loan. If the borrower does not have the |
| you filed bankruptcy if the lender does not check your | | | | money upon term date of payment, the consumer can |
| credit? | | | | roll over the loan, which means the borrower will pay |
| Lenders may refuse borrower if unemployed, or if he | | | | the loan fee, and the amount is rolled over to the next |
| she has only worked 5 months on the job. You can | | | | paycheck. |
| also be denied of a payday loan if you have | | | | For the most part the loans are offered to consumers |
| outstanding loans pending or unpaid checks. | | | | that have pending shut-off notices on utilities, late fees, |
| If your bank account is new, the lender can reject your | | | | overdrafts, car repair fees, etc. If the situation is truly |
| request for a payday loan. If you have outstanding | | | | an emergency a payday loan might be in your best |
| overdrafts on your banking statement or make below | | | | interest. |
| the net income the lender request, the company may | | | | |