Q&A: where can my husband and i get a payday loan fast?
where can my husband and i get a payday loan fast?
ME and my husband who is active military are trying to get a payday loan. Some unexpected stuff came up. We tried online for one and every single one we went to said we didn’t qualify because he was military. Which is complete crap, my husband is out there everyday risking his life and we can get a payday loan it’s really irritating. We are trying through pioneer military loans but it’s taking forever and we can barely get through to customer service. So does anyone know where we can get approved?
Best answer:
Answer by Justin
Bing active military shouldn’t preclude you from securing a payday loan. Typically, you need to have the following to qualify:
1) Be of legal age (I assume both of you are)
2) Have a valid checking account
3) Have a job where you make more than $ 1000/month (this amount will vary by company)
4) Live in a state where payday loans are legal
If you are having a hard time finding an online company who will offer you a loan you could try a local company. Try to find a company that has more than one branch, and check their BBB ratings (Better Business Bureau) to make sure your not just dealing with some loan sharks.
However, you may want to try a new company that charges much lower rates: http://billfloat.com - this is a company who will help you pay bills, but not rip you off with fees and extremely high interest rates like ALL payday loan companies.
Good luck!
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According to the Fiscal 2007 Military Authorization Act, it is illegal for creditors to lend military personnel and their dependents any financing with interest and fees that are greater than 36% combined. In addition, it is forbidden for any lender to use a check or other “financial instrument” for collateral for a loan. This could explain why it is extremely difficult to find a lender for your situation.
However, I do not recommend using a payday loan. If you need cash right away then I believe you should try to acquire funds through the following methods:
1) Pawn Shop – If you have collateral then taking some of your possessions to a pawn shop may make sense. They typically offer you about half of what your possessions are worth while they hold on to them. If you pay them back (with interest) then you get your possessions back.
2) Credit Card – If you have a credit card with available funds then this method will save you money compared to a payday loan. The terms are much better with a cash advance from a credit card than a payday loan.
3) Consumer Loan – Try talking to your local banks and credit unions about getting a small personal loan. They offer lower interest rates, better overall terms, and you can request to repay them in installments.