1. Most of the time, for cash advance loans, no credit check is needed for approval - Payday loans are approved based on employment verification, a current checking account & a few other factors. So, bad credit is not an issue for payday or cash advance approval.



2. Most of the time, the borrower cannot have any outstanding payday loans when applying for a new payday loan.

3. Payday loans that are applied for online are typically deposited on the following business day into the borrowers checking account - However, there are some internet payday loan companies who can approve the loan and get the money deposited into the borrowers bank account on the same day. Cash advance lenders generally strive to be as quick funding the loan as possible. Some payday loan companies claim to be one hour payday loan lenders.

4. Bankruptcy, bounced-checks, charge-offs and other types of credit problems, typically don't prevent a borrower from being approved for a cash advance loan.

5. Borrowers should NEVER have to pay an "application fee" to apply for a payday loan - This goes for internet payday loan companies also. If you are ever charged an application fee for applying for a payday loan, run the other way.

6. Social Security numbers are typically needed in the payday loan approval process - However, this does not necessarily mean that your credit will be pulled. Most payday lenders do not do a credit check for loan approval.

7. Some states have laws in place the help prevent borrowers from getting into a debt cycle that becomes almost impossible to get out of - Some states limit the number of times a payday loan lender can renew a payday loan, without lowering the interest rate and making a way for the borrower to be able to payday down or pay off the loan.

8. Payday lending is banned in Georgia and payday loan lending is considered a felony - Other states are also considering either banning payday loans or more strictly limiting their availability and the way they are used.

9. Proponents of payday loans also argue that bank overdraft fees ($15-$30 per bounced check) are more costly, in many cases, than the fees charged by most payday loan companies.

10. A few banks are beginning to offer loans similar to payday loans for people whos checks are deposited into their bank accounts automatically and regularly - The interest rate for these types of loans are typically 10% of the amount borrowed.

11. To avoid needing a payday loan in the future, work on avoiding unnecessary expenses, make a budget and try to save a little here and there for future emergencies - Even $10 saved every couple of weeks or so can be enough to avoid using a payday loan a few months later.

12. Pay day loans go by various names - Pay day loans are often called cash advance loans, check loans, internet cash loans, online payday loans & check advance loans. They are also available at various places, online and offline. If you prefer to be discreet about your use of a payday loan company, you might want to use one online where the cash is deposited directly into your bank account, usually the next business day.

13. Consider all other options before deciding to use a cash advance loan - However if you must get a payday loan, search for a reputable, low cost payday loan lender. Try to compare lenders and get the lowest fees and rates you can to avoid getting into a debt cycle.

14. To avoid unnecessary use of pay day loans, consider talking to creditors to see if you can have more time to pay your needed bill(s) - If you can get your creditor(s) to waive your late fee(s), you might be able to get by without a cash advance loan.