What information do I need to provide in my payday loan application?

Payday advance loans can be used for nearly any purpose from supplying the additional

extra funds for a deposit on a car to paying off those last minute bills that inevitably crop up prior to your next payday. There are now literally countless payday lenders on the web and all offer varying standards of service from the fast and efficient to the downright poor it's important before picking out a payday lender to be fully aware of both what you are getting into to, exactly how much you need to borrow and when you will be due to repay the loan. It's also important to ensure that you always repay the loan on time.

The information you need to provide will vary between lenders. The first thing you need to know however is the standard criteria set by most lenders when evaluating potential borrowers. Payday Lenders will not accept applications from anyone under the age of eighteen years old, some payday lenders will refuse applications from anyone under the age of 21 years old. Furthermore, you will need to have a sufficient amount of income in order to qualify for a payday advance, the standard wage is 750 per month after tax it is likely your application will be rejected if you do not meet this basic threshold. You must also be a permanent resident in the UK and also in possession of a UK Bank Account and valid Debit Card. Payday Loan Companies do not accept applications from people who have been bankrupts or have CCJs.

The type of information you are required to provide includes standard information like address history, any previous names, total monthly income after tax and the total amount you wish to borrow. While this process is fully automated on a number of major lenders websites, some lenders will require you to fax additional information like bank statements or further proof of identification. This can unnecessarily delay and application and it is advisable to look for a payday lender that is able to offer an instant decision.

What information do I need to provide in my payday loan application?

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