Payday Loan Research Paper
No matter how well you plan, emergencies can arise unexpectedly, and sometimes you need a bit of financing to tide you over until your next payday. A short-term loan may be the best option when you have bad credit and need extra cash. There are, however, several requirements to be aware of before attempting to apply for a payday loan. Trust 1st Choice Financial of Ohio to get you the help you need to make it through.
Here are five must-haves for getting approved for an emergency payday loan:
Meet The Minimum Age Requirements: Most states require individuals to be at least 18 years of age to apply for a short-term loan. A few regions have higher age limits.
Have An Active Checking Account: It’s important for the account to be in the black — that is, to have some money in it. Some payday lenders request bank statements and may be reluctant to grant financing to people with accounts in the negative. …show more content…
Show Proof Of income: Although regular employment is not required, you do need to show that you have some type of stable income that comes in on a monthly basis.
Provide A Valid Phone Number: Lenders need to be able to contact you to be sure you’ll pay them back. Some institutions even require individuals to give a work contact number so that they can feel better about approving financing for those with bad credit.
Have A Valid Social Security Number: Some lenders ask for the numbers during the application process, while others verify a candidate for a payday loan with a copy of the applicant's social security card.
Understanding the requirements of short-term loans before applying is the best way to get desirable results. When you need a payday loan, call 1st Choice Financial at their Washington Court House office at (740) 333-4333, or try one of their nine other Ohio locations. You can also see their website for more
information.
Here are five must-haves for getting approved for an emergency payday loan:
Meet The Minimum Age Requirements: Most states require individuals to be at least 18 years of age to apply for a short-term loan. A few regions have higher age limits.
Have An Active Checking Account: It’s important for the account to be in the black — that is, to have some money in it. Some payday lenders request bank statements and may be reluctant to grant financing to people with accounts in the negative. …show more content…
Show Proof Of income: Although regular employment is not required, you do need to show that you have some type of stable income that comes in on a monthly basis.
Provide A Valid Phone Number: Lenders need to be able to contact you to be sure you’ll pay them back. Some institutions even require individuals to give a work contact number so that they can feel better about approving financing for those with bad credit.
Have A Valid Social Security Number: Some lenders ask for the numbers during the application process, while others verify a candidate for a payday loan with a copy of the applicant's social security card.
Understanding the requirements of short-term loans before applying is the best way to get desirable results. When you need a payday loan, call 1st Choice Financial at their Washington Court House office at (740) 333-4333, or try one of their nine other Ohio locations. You can also see their website for more
information.