Modern life is full of emergencies that need to be addressed as soon as possible, even if there are still a few weeks until your next paycheck. The moment you decide to apply for a payday loan, a set of questions arises automatically, making you wonder how to do that in the quickest and most effective way possible. The first thing you should know is that there are two major types of payday loans, and by reading the brief description of each of them, you’ll be able to figure out how to achieve your goal.
Payday Loan Store
The first way to apply for a payday loan quickly is to go to the closest payday loan store. You can find one easily regardless of the state you’re in, and then you’ll have to undergo the two steps of the application process. You’ll be asked to fill in some basic forms with personal and professional questions such as:
- bank account details;
- place of work;
- credit history;
- valid ID;
- phone number.
In particular, you’ll have to point out your place of work to prove that you have a steady income that will let you pay what you’re borrowing back.
You’ll also have to provide personal details, including your government-issued ID. The second step involves writing a post-dated check that’s going to include the amount of the credit plus the fees you’ll have to pay by the end-date. For example, if you applied for $600, you might have to write a check for $680.
You can discuss the details about the interest rates with the manager. You receive your money right away, in cash, and when the end-date comes, you have to either deposit the check you’ve written or pay back the required amount in person. So, going to a payday loan store is an easy and effective way of getting a payday loan without wasting days waiting for approval.
Online Payday Loan
The second major option will help you save even more time as you won’t have to go anywhere. In fact, you’ll be able to get your money without leaving the room. All you need is access to the Internet, the pic of your ID, a phone number/email, and an active account into which the money could be deposited.
There are many credible sites offering their services, and as soon as you pick one, you’ll have to fill out an online form. Most likely, there’ll be fewer questions there than in the form provided by the store, so you’ll be able to apply in an even timelier manner. When you’re done, you can expect your form to be approved and the money to arrive within the next 24 hours.