How to Get a Guaranteed Cash Advance Payday Loan Online
A guaranteed cash advance payday loan is known for its quick and easy application that can solve your money problems in 24 hours or less. These companies accept people with poor credit and no collateral, but they do have several requirements that are important to note.
It is very easy to apply for guaranteed payday loans online, but there are several things that can get your cash advance denied. Make sure you qualify in these areas, and getting your cash advance should be a breeze.
Proof of Employment
Guaranteed payday loans are designed to be paid back when the borrower receives the next paycheck. Therefore, steady employment is required to insure that the payday lending company will have their money paid back to them. Your loan will most likely not be approved if you cannot provide proof of your employment.
Length of Employment
Each lending company has their own requirements about the amount of time that you need to have worked for your employer before they will loan you money. Usually 6 months is long enough, but some companies accept employment for 3 months. If you fall into the category of 3-5 months of employment, keep searching and don’t get discouraged if you get denied by a few companies.
Filing for Bankruptcy
Although they do not check your credit rating, cash advance companies do check to see if you have filed for bankruptcy. If you have filed for bankruptcy in the past year, you will most likely be denied for your cash advance loan, because the company will not be sure that you can return the money that you have borrowed from them. These companies want to make sure you have had plenty of time to recover from your financial troubles before they loan you money.
Your Bank Account
Your bank account cannot be brand new or your claim will be denied. Most companies prefer accounts that have been open for at least 3 months. You can also be denied if the lending company cannot verify your banking information, so make sure that the information you provide is accurate. Another potential problem is if you have been charged overdraft fees or insufficient funds fees, both of which show that you are not very responsible with your money.
Your Paycheck
Some companies prefer that you be paid every 2 weeks, because these loans are designed to be short term, usually for no more than 18 days. However, there are some companies who will work with people who receive a monthly paycheck, so this will not necessarily deny your loan. Companies also require an income of at least $1,000 each month to insure that the loan can be paid back.
Your Identity
Payday advance companies are very careful to verify the people that they loan money to, so if they have any reason to believe that you have given them a fake name or inaccurate information, your loan may be denied. You also must be at least 18 years old to receive a payday advance loan, so the companies will be verifying this as well.
Your Current Loan Status
Most loan companies will only allow you to have one cash advance loan at a time to prevent you from sinking too deeply into debt, so you will not be approved for guaranteed payday loans if you already have one that has not been entirely paid back.
There are many reasons that you may not be approved for a guaranteed payday loan. Many of these reasons are fixable, so it is important that you ask why your loan was not approved. This will allow you to correct any inaccurate information or know what kind of company that you need to search for if, for example, you have not been employed long enough. This list points out the most common reasons why guaranteed payday loans are denied. Now that you know that you are qualified, fill in the information at the top of the page and get started on your cash advance loan application.