What are no fax payday loans?
It has to be said that applying for loans isn’t always easy. Even those that are applied for by phone may often conclude with the request that you provide a fax number so that forms can be faxed to you, signed, then posted or faxed back. Not only can that be slow, it may actually be impossible if you don’t have a fax.
The payday loan
The payday loan is a relatively new facility that allows people to borrow money by way of a short-term cash injection until they next get paid. They can be used for any purpose, whether it’s that unexpected bill that’s just come in or that absolute bargain that you just have to snap up now.
The idea is very simple. You make an online application and assuming it is approved, the money will be sent directly to your bank account. If your bank can accept online transfers, the money could be in your account within as little as two hours, or at the latest, within 24 hours.
That’s the speed and ease of no fax payday loans.
Repaying the loan
If applying for the cash advance loan is easy, repaying is even easier.
The pay day loan is typically set up to tide you over until you get to your next or possibly next-but-one payday. On the agreed date, the lender will debit your bank card with an agreed sum that represents the loan, interest and other charges.
That though, is it! The loan is fully repaid in one go without extended commitments and lengthy debt periods.
Bad credit history
Of course, any lender reserves the right not to lend in certain situations but as payday loans are typically lower values (usually from around £100-£250 though this can vary depending on the payday loan company) and for shorter durations, you may find that the lenders are willing to accept applications from those with less-than-perfect credit histories.
Applying
To apply for no fax payday loans, typically you will need an active bank account and be in permanent employment plus be a UK resident. You may also need to show that you receive a regular salary or wage and are aged 18+.
