What is a Pay Day Loan?
A pay day loan is a low-amount and short-term loan designed to help you make it through to your next paycheck. It also requires short-term repayment.
ParkAveCredit.com specializes in loans to people with bad credit and a "Pay Day Loan" may be a good solution for you.
Purpose of a Pay Day Loan: The pay day loan is designed for short-term emergencies, like an unexpected car repair, home repair, or medical expense. The amount of a pay day loan usually is $1000 or less.
How Does a Pay Day Loan Work?
* When you apply for a pay day loan, you will be required to provide your credit records and a personal checking account number.
* You can apply online for a ParkAveCredit.com pay day loan and you will be contacted by a representative to confirm approval, with the amount and terms of your loan.
* The loan amount will be direct deposited into your checking account. For amounts less than $500.00, this can be done by the next working day after approval. And, loans in the amount of $500 or less usually receive fast approval.
* Your loan is guaranteed to be confidential and secure.
* Based on the terms of the loan, the lender will withdraw the loaned amount from your checking account on the agreed-upon date, along with a service fee.
* It is your responsibility to insure that the funds are available for withdrawal by the lender on the pre-established date. Failure to do so will be disastrous to your credit.
Interest on Pay Day Loans
Just like any other loan, your income and credit history will influence your interest rate, as well as the length of time you request for repayment. However, since this is designed to be a short-term loan for a lower amount, the total interest cost to you is lower than other longer-term loan types.
At ParkAveCredit.com, we specialize in Bad Credit Pay Day Loans. Application is quick and easy.
