Social Security Payday Advance FAQ
Payday cash advances within the United States have become very popular nowadays, and this is primarily because of the excellent service these lenders provide.
Wherever you happen to reside within the United States, there is a payday office near you where you can apply for a payday loan when the need arises.
Payday cash advances are helpful to anyone who need cash for an emergency situation or for other important reasons as well. Here are some questions you may have regarding a payday cash advance.
My income level from social security is low. Can I get a payday loan?
The payday loan concept is not really related to income levels at all. This is one of the biggest myths surrounding these types of loans. There are many social security services and services relating to a number of other things that are related to income; these are referred to as income tested benefits. Payday loans, however, do not fall into this category, but are available from private companies in the United States.
You can receive a payday loan as long as you are able to write a post dated check, and the money received from social security can cover the repayment of the loan. In other words, you need proof of what you make in order to ensure that your social security check cna cover the amount you are going to borrow.
How much can I borrow if I’m on social security?
If you are on social security, the amount you can borrow through a payday loan really depends on the loan office that you visit. One thing that no loan office will let you do (or rather almost no loan office; there are some very rare exceptions) is to borrow more money than you are going to receive in your next social security check.
I have just collected social security. Can I get a car loan?
Car loans are not really related to the payday model. You can take out a payday loan specifically to use on car repairs or for some other similar expenses. But if the car loan you are thinking of is the financing of a new or used car, that is something different. If you are interested in getting a payday loan for your car in order to do some repairs, you don’t need money in your checking account; just proof of your regular payments from social security and a post dated check is enough.
I have a savings account and social security. How can I get a payday loan?
In some areas of the US, this will not be possible. However, some areas might allow you sign an agreement for wiring funds upon arrival. This is much more difficult to enforce than a post dated check, so in many cases a savings account will disqualify you from receiving a payday loan.
I need $300 loaned to me until my social security check comes. Where can I get the money?
Just look in your phonebook or online for a payday loan center close to you. Payday loans are quick, cheap, and easy to do. They are very effective; so don’t wait any longer - get a payday loan now!