Click on the question that you're searching for an answer to:
|
Answers to your no fax payday loan questions:
|
What exactly is a payday loan?
A payday loan is a small unsecured loan, usually for $100 to $1,500,
which is designed to meet your financial needs until your next payday. Essentially,
you are making out a check for the advanced loan amount, plus a fee, to be held until
your next payday.
Payday loans are also known as cash advance, short term loans, payday advances, cash loans, fast cash, fast loans, bad credit loans, deferred deposit, and a number of other things. No matter what you call them, payday loans can get you through your financial crisis.
TheLoanDepo.com is here to help you find a payday loan lender. We present your completed application to our premier network of lenders and allow them to compete for your business. By searching for a payday loan through TheLoanDepo.com,
you can be sure that your application will be matched to the best solution to your personal needs.
|
What is an Auto Title Loan?
A The Loan Depo Auto Title Loan is a 30-day loan that is secured
by your paid off vehicle. We place a lien on your vehicle and you continue to drive
it. When the loan is due, you may:
- Pay the interest to extended the loan until your next payday.
- Pay the loan in full. It's always your choice.
|
What are the requirements for a loan?
The minimum requirements for a payday loan are:
-
You must be at least 18 years of age
-
Have a job (or other regular source of income)
-
You must have an active open bank account
To be approved for a loan, you need to meet the requirements of the specific lender with whom you are connected. The lender will evaluate your application and determine whether you are eligible based on its own set of approval criteria. Factors such as income, direct deposit of your pay, past payday loan history and state of residence, may affect the approval of your loan.
Once you submit your completed loan application, you will be connected instantly with a payday lender, who will evaluate your information. Your assigned lender may contact you directly and ask for additional information in order to approve the application. Payday lenders utilize proprietary criteria to evaluate applicants and will approve your loan when your application matches their criteria.
In order to increase your chances of getting matched with a lender and ultimately approved for a loan, please be sure to fill out our application with honest verifiable information. For example, entering a cell phone number instead of a home phone makes it more difficult to verify your information and many lenders will not accept applications that cannot be verified.
We do our best to find a lender for you, but unfortunately there's no guarantee that your loan application will be accepted.
|
What do I need to qualify for a The Loan Depo Title Loan?
You must own a Paid Off Vehicle with a Clear Title, be 18 years
of age, have at least $1,000 per month, steady verifiable income, and have a current
permanent residence.
|
How do I get a payday loan?
You can start the process immediately by calling toll free (800) 979-1824
or simply complete the online application and submit it from our web site and you will be connected to a lender online
within seconds.
Once you are matched with a lender, you may be a required to electronically sign and agree to the terms of the loan. However, there is no obligation to accept the loan. If you are not satisfied with the terms of the loan, simply do not sign it, and apply again to find a different lender.
Typically the proceeds of your loan will be electronically deposited into your bank account the next business day. You will typically have the ability to choose the payment option that works best for you. All payments are made by electronic transfer from your bank account.
|
How long do I have to pay back the loan?
Your loan is normally due on your next pay date. However, most lenders will allow you to extend your loan by paying a fee.
Once matched with a lender, you will be directed to your lenders loan documents. Here you will find specific instructions as to what happens when your loan is due. You typically have the following options:
-
Do nothing and your loan will auto-finance
-
Pay off the loan in full
-
Renew the loan and pay interest and fees only
-
Renew the loan and pay interest and part of the principal
Please contact your lender directly if you have repayment questions.
|
How long is the term of the auto title loan?
The term of a The Loan Depo Title Loan is 30 days. When the loan
comes due, you may pay only the interest to extend the loan until your next payday
or you may pay off the loan. It is always your choice. |
How do I receive my cash?
The payday loan / cash advance is wired directly into your bank account by your lender. TheLoanDepo.com works with a network of lenders, some of which can have money in your bank account in as little as the next business day!
|
How quickly can I get my money?
Payday lenders typically process the loan immediately so that it will be available in your account the following business day after the loan is approved. Some lenders can wire the money to your bank account immediately. If you apply on a weekend or holiday, the money will be sent to you by your lender the next business day.
|
How fast can I get the money for an auto title loan?
We usually can have you approved within an hour after taking your application with
the money deposited directly in your bank account the next bank business day. |
What hours is your service available?
We accept applications 24 hours a day, every day of the year.
However, once your application is provided to a lender, sometimes its procedures require additional verification which can only be done during normal business hours. Please keep in mind that the lenders can only electronically deposit money to your bank account on days when your bank is open.
You can submit your loan application to us at any time 24 hours a day 7 days a week. However, since we only match you with lenders who are available to help you in real time you may be more likely to find a lender during normal business hours (Mon-Fri 8 am – 5 pm EST) since not all lenders operate on weekends and holidays.
|
How do bank holidays affect my loan?
The following bank holidays are observed by Federal Banks and their branches:
-
New Years Day
-
Martin Luther King, Jr. Day
-
Memorial Day
-
Independence Day
-
Labor Day
-
Columbus Day
-
Veterans Day
-
Thanksgiving Day
-
Christmas Day
For holidays that fall on Saturday, Federal Reserve Banks and branches are open the preceding Friday. For holidays that fall on Sunday, Federal Reserve Banks and branches are closed the following Monday.
If your loan is approved on a weekend or bank holiday, your funds will be sent the next business day. You should contact the lender directly to confirm when the money will be deposited and the ACH department of your bank to verify that the funds have been credited to your account.
|
How much payday loan money can I have advanced to me?
TheLoanDepo.com will help you get up to $1,500, based upon the information that you provide to us on the loan application. Your lender may offer you a smaller loan until you establish a payment history with them.
|
How much auto title loan
money can I borrow?
The auto title loan amount is based upon the value of your vehicle and your monthly
income.
|
What are the loan fees for the cash advance?
TheLoanDepo.com works with a network of lenders whose cash advance fees are among the lowest in the payday loan industry. The fees will vary depending on which lender you are matched with.
|
How much will this loan cost me?
The Loan Depo works with a network of lenders whose title loan fees are among the
lowest in the auto title loan industry. The fees will vary depending
on which lender you are matched with.
|
If I can't pay off my title loan when it comes due?
You may pay only the interest to extend the loan until your next payday. It is always
your choice.
|
Can I pay off the auto title loan at any time?
Yes. As long as you pay only the interest when the loan comes due, you can continue
to extend the title loan term until the next payday. It is always
your choice. |
Is there a penalty if I pay the loan off early?
No, we never charge a penalty should you decide you want to pay your title loan
off early. |
Do I get to keep my car?
Yes, you continue to drive your vehicle. We place a lien on the vehicle until you
pay off your loan. |
What if I do not get approved by the lender you matched me with?
While we have the largest network of qualified payday lenders on the internet, we cannot guarantee that you will receive the loan you need. We do our best to match your application with a lender likely to provide you with a loan. However, payday lenders utilize proprietary criteria to evaluate applicants and may not approve all accepted applicants.
TheLoanDepo.com is not involved in the loan approval process and therefore we do not have knowledge of the status of your loan. Please contact your lender directly for loan approval status.
If you do not get approved for a loan with the lender you were assigned to, you may re-apply by going to the Returning Customers link on this website. We will attempt to match you with another lender.
|
What if my application is not matched with a lender?
While we have the largest network of qualified payday lenders on the internet, we cannot guarantee that we can find a lender for you. If you are not matched with a lender, here are a few suggestions to improve your chances if you chose to re-apply:
-
Time of Day: Many lenders do not accept applications outside of normal business hours. You may want to re-apply during regular business hours – Monday through Friday 8 AM to 5 PM EST.
-
Direct Deposit: Many lenders favor customers whose paycheck is directly deposited into their bank account by their employers. If you do not have direct deposit, please ask your employer to enroll you in their direct deposit program and then come back and re-apply.
-
Outstanding Payday Loans: Many lenders will not issue payday loans if you have too many current loans outstanding. Once you have paid off your other loans, come back and re-apply.
|
What if I only have a savings account?
We have several lenders in our network that can lend you money even if you only have a savings account. Please contact your bank to get the routing number. This is needed in order to electronically transfer the loan funds to your account. |
Do I need a Checking or Savings Account for an auto title loan?
No. However, you may qualify for more money if you have a checking account. |
What if I have a fixed income or benefits?
As long as you have a steady stream of income, our lenders can provide a loan to you. Enter your benefit provider as your Employer. If you do not have the telephone number of your benefit provider, enter your own telephone number. Enter the number of months you have been receiving benefits for the Months Employed. |
What if I do not have a driver’s license or state ID?
If you do not have a driver’s license or a state ID, please enter your passport number or social security number. |
I have bad credit can I get approved?
We approve auto title loans for people with bad credit, slow credit and no credit.
Virtually anyone with a paid off vehicle can be approved for an Auto Title Loan. |
Does your company do credit checks?
TheLoanDepo.com is not a lender and we do not perform any type of credit check. We try to match your application to lenders in our network in order to find the right loan for you. Most of our lenders do not do traditional credit checks, however, they may query various consumer databases, such as CL Verify, TeleTrack or DataX in order to verify your identity and review your past payday loan history. |
Is this site secure?
You can submit your application securely by clicking "Secure Application". |
Do I need to fax any information?
No, the application process does not require faxed documents. However, your lender may ask you to fax over certain information, such as a paystub, if they are unable to verify information in your application. |
I am ready to get a payday loan / cash advance! Where do I go to apply?
Great! You can call toll free (800) 979-1824 or go to our
online loan application and sign up today!
Click Here to Apply Now!
|
I still have questions. How can I contact a representative?
Call toll free (800) 979-1824 or Click Here to go to Contact Us page |