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It seems like unexpected expenses fall from the skies sometimes and there’s a need to cope with bills as fast as it’s possible. Usually, a person has to receive extra money during 24 hours but it’s a rare situation when someone will give the desired sum so quickly. MyPaydayLoan is the US lender that can provide such an option in case you follow its requirements and have a determined paycheck amount every month. Although this company comes up with rather high rates, it has a large experience in the sphere. This lender was established in 1999 and that is impressive because many American familiar firms are new ones. This review contains full info about its services, rates, and requirements. Learn it to realize if this lender is what you’re looking for.
Obtaining Extra Cash at MyPaydayLoan
There are many circumstances requiring fast reaction and quick money solutions. If you don’t have any other option, it’s the chance to try short-term payday loans. But you always have to keep in mind that this feature can’t become a regular function for your family budget.
MyPaydayLoan provides loans that can be returned within a short period. This lender doesn’t demand any additional documents or faxing and it’s really easy to get extra funds here. Almost every applicant is eligible but you’ll have to meet some of their requirements like being more than 18 years old and earn at least $ 1000 monthly. Besides, you have to work in a current position not less than 90 days. They process requests quickly and people who managed to send a form before 5 pm are likely to receive a confirmation and money overnight. A client receives loan status updates on the provided email. That is why you have to be sure that you provide correct contact data:
- email;
- phone number;
- address.
They ask people to provide specific information when completing an application form. This data is common for the majority of lenders. That’s why there’s nothing new about this fact. Prepare to give the info about your name, driver’s license, ID, employer’s contact details, address, email, phone, and banking account. This lender deposits money to the account you provide.
A client has to be aware of the sum he’ll have to return when he takes a loan here. Actually, you don’t only give back the borrowed sum, you also have to add their rates. MyPaydayLoan starts at 600 % and may rise up to 1500 %. Their rates are rather high and it will be a surprise in case you didn’t make any calculations before you decided to take extra cash here.
Typically, you will have 14 days to repay the borrowed sum at MyPaydayLoan. Notice that you’ll wait for payment conditions after they approve your application. They will ask you to determine an appropriate schedule and how much you’re going to return them on set dates. In case you won’t submit this info, MyPaydayLoan will take the money from your account in 2 weeks since when they deposited money to your account. Otherwise, the company will debit the needed sum from your paycheck. But in case you decide to repay the entire sum on a determined day, your charge is taken off.
MyPaydayLoan provides the chance to return the money by small portions on your paydays. It’s rather convenient in case a client can’t give the entire sum on one day. In this case, you may ask to extend your schedule and pay back with a small fee. But keep in mind that it can’t be a long-term loan and it’s not the best choice to extend repayment for many paydays even if you need it. The lender recommends to give the money quickly and you won’t have to pay high fees.
The company offers 3 methods to use when you want to give the money back. By choosing the first one, you have to be ready to return a full sum on the prescribed day. This money amount represents the sum you received and accompanying fees. By choosing the second method, you get the chance to pay a small money amount which is likely a charge and extend your loan for the next date when your paycheck arrives. The third way to return cash requires a larger sum than the minimal one and extension until the future payday.
Customer Support and Contact Data at MyPaydayLoan
Their customer support is rather poor as for a lending company. Although a user can read MyPaydayLoan FAQ and Private Policy, it’s not enough for a person who has a financial question. You can contact them via email form and that’s all. The company doesn’t give their email address and that is a really limited contact option.
Is It Safe to Work with MyPaydayLoan?
MyPaydayLoan doesn’t have any tough processes and it’s easy to use their products. Their website is rather convenient for a user. Besides, it’s good to know that they care about the customer’s personal information and protect it. They implement different measures to keep this data from stealing or hacking. The company offers an understandable online form placed on their website. A potential client only has to complete it with the required info and send it. Usually, they respond quickly and the money is deposited within 1 working day.
Summary
The company has an impressive experience in the industry and it’s hard to say that there are many US lenders with the same practice and expertize. MyPaydayLoan has many advantages but it also has disadvantages. Their rates are too high and there’s the chance to find some other lender with lower fees and familiar offers. The company’s contact data and customer support are also poor and that may be a problem for a new client. But in case you want to be sure that the money will be deposited within 24 hours, this company is a nice candidate.
