What is a payday loan?
A payday loan is a short term loan that is unsecured that is intended to help you with a financial hardship. The loan is due on your next payday. Customers use payday loans to cover unexpected, small bills to avoid having to pay expensive late fees and fees for bouncing a check. At iPaydayLoan.com, you can apply for a payday loan on the Internet and your money will be securely deposited into your savings or checking account.

What can I use a payday loan for?
Payday loans can be used at your own discretion to cover an unforeseen expense, celebrating a special event, or paying off a bill.

How much can I borrow with a payday loan?
The information that you provide on your application is the basis for your first iPaydayLoan.com loan. Although the amount that you borrow can be raised on any future iPaydayLoan.com loans after you have successfully repaid your first loan, your first loan can be as much as $1500.

How expensive is a payday loan?
Your application will determine the Annual Percentage Rate (APR) and the cost of your payday loan. When you are provided with the lender’s website, the terms of the payday loan will be disclosed during the application process. You will not have accepted the loan yet. You simply don’t sign the application if the disclosed terms aren’t acceptable to you.

What are the qualifications for a payday loan?
There is no credit check required for an iPaydayLoan.com loan which makes qualifying for a payday loan much easier than for a conventional loan. You need to meet all of these requirements:
• Currently employed (or receive regular income)
• Make a minimum of $1000 each month.
• Be U.S. citizen and 18 years of age or older
• Have a checking or savings account with direct deposit.

What are the procedures to apply for a payday loan on the Internet?
You simply complete and submit that application that can be found on our website in order to apply for a payday loan. Then the process of approval process will begin immediately and a representative will notify you of the status of your payday loan.

What information is required on the application?
In order to process your payday loan request, the information that is required includes some valid identification with your photograph, your name, address, employment information, and your banking information.

How secure is my financial and personal information?
When managing your personal finances we respect your right to privacy. Our website uses many different security measures to maintain the safety of all of your personal information. All sensitive data transmitted between our website and your browser uses 128 bit Secure Socket Layer (SSL) encryption technology.

How much is the fee for application?
There is never any charge form iPaydayLoan.com on order to qualify for a payday loan.

Am I obligated to take out a loan by submitting an application?
The application only states that you want one of our representatives to contact you to discuss your options for your payday loans. You can withdraw your request or ask us any questions that you may have. You can agree to the terms with one of our representatives and confirm your information whenever you are ready to proceed. You aren’t obligated to anything.

What about bad credit?
Bad credit will not prevent you from obtaining a loan because there is no credit check required. Even if you have been turned down by other lenders, our friendly representatives will be happy to work with you.

Am I still eligible if I am a tenant?
It will not affect you eligibility regardless if you own or rent your home.

Do I have to fax any documentation?
You won’t have to fax any personal information. The lender will receive the required information on the Internet.

Can I have multiple payday loans at the same time?
Since all other payday loans must be paid back repaid prior to another payday loan being approved, the answer is no.

Will you contact former or current employers?
The lenders that we deal with have a very strict confidentiality policy. Your personal information will not be provided onto any third party unless required by law without your prior agreement. The answer is no.

Am I required to have direct deposit?
In order to qualify for a payday loan, your bank account must have direct deposit. It is the most secure way to offer payday loans as rapidly as possible.

When will I receive my payday loan?
After it is received, your application will be processed within 30 minutes. After you application has been approved, the proceeds from you loan will be available in your saving or checking account that day. To prevent you from worrying about missing a deadline or bouncing a check, we will then help you schedule a date to pay the loan back.

How will I be able to tell that my loan has been approved?
After your payday loan has been approved you will be notified by email. Up until the time that you receive the proceeds from payday loan in your savings or checking account that is based on new information with regard to your application, iPaydayLoan.com reserves the right to make adjustments to your loan approval.

When is my payday loan due?
There are different rules and regulations that govern each state with regard to the dates that loans are due. The payday loan is usually scheduled for your next payday (between 8 to 30 days).

Can I pay my payday loan back early?
If you want to pay back your payday loan early you should contact us. By paying your payday loan back early, you might be entitled to a partial refund of the fee for your loan.

What if I can’t pay back my payday loan on time?
You can request an extension for your payday loan if you can’t pay back the full amount of your payday loan on time.

The available payment options include:

1.On the date of maturity you only pay back the finance fee.
2.On or prior to the maturity date you pay a portion of the principle and the finance fee.
3.You pay back the payday loan in full on date that is due as provided on your loan agreement.

What is the policy for renewal?
The lender determines the renewal policies and not by us therefore different lenders will have different renewal policies. However, there are some lenders who might not debit your account for the full amount of the loan, which can lead to a renewed loan and additional fees. You should carefully read their renewal policy and make your desires very clear to the lender.

What happens if I don’t pay at all or I’m late with my payment?
In the event of a partial payment or a late payment, there will probably be additional fees assigned to your payday loan. Reporting nonpayment to the appropriate consumer reporting agency and legal action can result from your failure not to pay at all.

How often can I obtain a payday loan?
We encourage our customer to use their payday loans responsibly and that payday loans are a short term solution for an emergency financial hardship. They shouldn’t be used repeatedly to deal with continuing budget problems. However, we are available at any time that you need financial assistance between paydays.