Everything You Need to Know About No Fax Payday Loans
When the payday loans service was first developed, all
customers were required to provide various documents to prove their identity, address
and employment, along with bank statements showing all transactions and their last
two months wage payments. Approval for a payday loan
was then based on the information contained in these documents. Once the payday
loan was approved, you would then be sent a Credit Agreement which you would need
to print, sign and fax back to the lender. This process of faxing documents back
and forth was tedious to say the least.
Online applications couldn’t be quicker and easier
At Payday Express we are committed to making the payday loan application process
as quick and easy as possible. So we offer no fax payday loans.
Faxless payday loans are cash advance loans
that can be approved online, without your having to fax documents before receiving
your approval decision.
Instead of basing our approval on information gained from your documents, we carry
out a quick credit check. You just need to fill in our simple no fax online application
and the details you provide will be submitted for the credit check. This only takes
a few seconds, and you will then be given an instant approval decision.
Improve your credit rating with no fax payday loans
If you take out one of our no faxing payday loans
and repay it on time we will report this to the Credit Reference Agency we use and
will do so for each loan you take out. In this way you could rebuild and improve
your credit rating.
Of course, if you don't repay the loan on your payday, and fail to contact us beforehand,
we will also report this to the Credit Reference Agency, which could in turn have
a negative impact on your credit rating. However, we recommend that you don't apply
for no faxing payday loans in the first place if you think you will not be able
to meet the repayments.
How Much you can Borrow and what you Pay Back
As a new customer you can borrow £80-£500 with your first
payday loan and you may then be eligible for an increase up to £800, subject
to earnings, once you have established a payment record with us.
Representative Example
If you borrowed £200 for 28 days you would repay a single payment of £258, with an interest rate of 378% variable per annum. 2670.8% APR representative.
The Option to Defer
We understand that you may come to the end of the month and decide that you need
another month to get your finances fully back on track and so will allow you to
defer the repayment of your loan to the following payday, if you request this. You
will simply need to pay the interest accrued on the amount borrowed and then the
full balance will be due on your following payday. Of course you can also clear
part of your loan and defer the remaining balance, in order to decrease the amount
to be repaid the following month.
Please note, however, that you should not apply for a payday loan with the intention
of using our deferment service, as payday advance
loans are designed to be repaid in full on your payday.
An Instant Solution to Temporary Credit Needs
Payday loans no faxing are ideal if you have a temporary
and short term need for loans till payday and
will easily be able to repay the money when payday comes along.