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Payday loans are a great way to bridge
emergency and essential expenses
between paychecks, but the process to
get that cash can sometimes feel a
little daunting. To get critical cash
quickly, the internet is a great place
to turn, because you can compare
offers and get the cash you need wired
straight to your bank account, usually
in about an hour, all from the
convenience and privacy of your own
home. One disadvantage that some
payday loan offers have is that they
require the use of a fax machine, for
a variety of reasons. We'll look at
why some companies need them, and what
you can do to avoid that hassle.
Why some Payday
Loan companies require a fax machine
In
some instances, a payday loan requires
you to fax copies of your
identification, including a copy of
your paycheck, your drivers' license,
or some type of proof of residence.
More often, payday loan providers
require that you print out, sign, and
fax your confirmation to them to
process your loan. The reason they
require a fax machine is that they
want to have some sort of record that
you are legitimately requesting their
services.
If
you have access to a fax machine at
home or at work that you can use for
personal purposes, nearly all payday
loan providers that operate online
will work for you. However, most
people don't have a fax machine at
their disposal, but there are still
options.
Getting a Payday
Loan with No Fax
When you're surveying the payday loan
options available to you, make certain
to apply for programs that don't
require a fax confirmation. For
instance, some of the cash advance
providers that we have selected will
allow you to shop multiple loan offers
at the same time, which will allow you
to choose between those with or
without fax requirements.
Another suggestion to eliminating the
need to fax documents is to keep your
requested loan amount small, and
therefore reduce the risk that your
cash advance choice will require a
faxed copy of your loan agreement. It
is far more common for borrowers to
have to fax documents when more than
$500 is on the line, so if you can
borrow less than that, you may be able
to reduce your need for a fax machine.
Finally, make sure that your personal
information is completely accurate and
matches up to other records that might
be found on your credit report or
other identifying documents. Ensuring
that your personally identifiable
records are accurate not only means
that you may not need to fax over
documents, it can also speed up the
loan process, and get you your money
faster. If the info that you provide
doesn't match the cash advance
company's records, they may call you
to confirm details or even deny your
payday loan entirely.
If your Payday
loan does require a fax machine
Sometimes, you will not be able to
find any short term loan without
faxing documentation to them. At that
point, you can choose from a variety
of options. The easiest place to send
a fax from is your local Kinko's,
which oftentimes operates 24 hours a
day for your convenience. The standard
fee for a full page fax is around
$1.00 per page.
By
correctly providing your information,
keeping your loan amount manageable,
and by taking the time to look for
faxless payday loan providers, you can
avoid the added inconvenience of
seeking out a fax machine to get
access to your cash immediately.
Payday Loan
Partners:
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