No, not quite. The problem with these loans is that the interest rates are extremely high, which makes it difficult to pay them back on time. In a Dayton Daily News article, Tim Brandon, a spokesman for Graceworks Lutheran Services Consumer Credit Counseling Service says …the combination of high interest rates and low incomes of most payday borrowers can quickly lead to a cycle of debt thats worse than the financial problems that led them to seek out a loan in the first place.
The article also states that there are 836 payday loan storefronts in Ohio that generate more than 500 million in fees every year by charging annual rates of over 300. (2) Needless to say, this is a very expensive and dangerous way to get cash in Dayton. Personal Installment Loans in Dayton Credit-building, affordable and safe cash loans.
You are approved. E-sign documents to accept your loan offer and get cash directly deposited in as soon as the next business day. Loans for Any Reason. The need for extra money can arise at just about any time.
Our forms are simple and fast. Submit your information today and reach our network of 100 lenders.
WhiteRockLoans. com receives compensation from its lenders, often based on a ping-tree model similar to Google AdWords where the highest available bidder is connected to the consumer. Regardless, WhiteRockLoans. coms service is always free to you. By submitting your information via this website, you are authorizing WhiteRockLoans.
com and its partners to do a credit check, which may include verifying your social security number, driver license number or other identification, and a review of your creditworthiness. Credit checks are usually performed by one of the major credit bureaus such as Experian, Equifax and TransUnion, but also may include alternative credit bureaus such as Teletrack, DP Bureau or others.
You also authorize WhiteRockLoans. com to share your information and credit history with a network of approved lenders and lending partners.
Does a payday loan require a check. With some lenders, borrowers are required to submit a post-dated personal check to obtain a payday loan. This check usually represents the total loan amount plus interest and fees, and it will be deposited by the lender when the loan becomes due. Not all lenders require a check to qualify you for a payday loan. Some lenders will automatically debit your bank account once the loan becomes due.
How does someone qualify for a payday loan. To qualify for a payday loan, most states require you to be 18 or older. You also need to have a valid phone number, and you need to be able to provide proof of employment. An active checking account is usually required if you want where to go for a small personal loan qualify for a payday loan, but some lenders will issue loans if you can provide proof of a savings account.
Finally, some lenders require a social security number.