Payday Advance FAQ
The popularity of Payday Cash Advances in United States is increasing day by day. The key reason for this popularity is the advantages of this type of loan far outweight the disadvantages. This is why many people are benefitting from these Payday Cash Advances.
Taking a payday cash advance is easy. Individuals who seek to bridge the gap between their consecutive paychecks can visit the payday officer in their area and take an advance. Payday cash advances are not limited to the working class but have also been extended to those who are on social security. In order to avail yourself of the payday cash advance loans, you may have some questions we are happy to answer in this FAQ section.
I have low income from social security. Can I get a payday loan?
The payday loan is not linked to your salary scale. It is a myth that these loans are granted to those who have an income above a certain level. The services or loans that are based on the concept of income level are called income-tested benefits. However, Payday cash advances do not come under this category. These loans are granted throughout the United States by private companies for all individuals.
Seeking a payday loan is simple. All you have to do is apply for a loan at the payday center. This allows you to receive the cash you need. Repaying the loan is easy as writing a postdated check. When the money is deposited into the individual’s account, the check is cashed and the loan is repaid automatically. However you need to prove that your next paycheck is going to cover the amount borrowed.
What is the limit for the loan if I’m on Social Security?
The limit totally depends on the company you have chosen to apply for the loan. However, the rule of thumb remains the same for most of the companies, and that is that one cannot borrow more than what he is receiving from Social Security.
I have just collected Social Security. Can I get a car loan?
Car loans are not related to your Social Security payday schedule. You can apply for a car loan for repairs to your car. You don’t need to have the actual amount in your account. What you would need is proof of your regular monthly SS checks.
I have a savings account and Social Security. How can I get a payday loan?
A Payday loan is granted to individuals on social security with savings accounts only in certain parts of US. These types of loans are more difficult to receive since you will need to sign an agreement to transfer the funds on arrival of the loan. For more information, read the rules and regulations for Payday Loans by clicking on the PayDay Loan ad below.
I need $300 loaned to me until my Social Security check comes. Where can I get the money?
Payday loans are perfect for this kind of requirement. One can easily apply for a payday loan online and get the cash. Payday loans are fast, reliable, simple and trouble free. So go ahead and get a payday loan as per your requirement.