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Frequently Asked Questions about Payday Loans

Payday loans and cash advances are popular short-term financial solutions to cash flow needs. While these loans are often quick and simple to apply for, many customers have questions about lending regulations and the loan process. Here are some common queries:

How often do most borrowers use payday loan services?

According to the Credit Research Center (CRC), 78% of cash advance users rely on payday loans between once a year and once a month. Just over half use the service six times or fewer a year - indicating use based around unexpected and temporary cash flow problems.

Cash advances can be a responsible and hassle-free way to get needed money fast, but it’s important to remember that they are designed as short-term loans, not as long-term financial solutions.

To obtain credit counseling services, contact the National Foundation for Credit Counseling. The NFCC is a national network of non-profit Financial Care Centers dedicated to helping people learn how to budget and use credit wisely. Call 1-800-388-2227 to find a center near you.

Is my transaction confidential?

As members of the CFSA, CashNetUSA and other leading payday loan companies have a dedication to providing the highest level of customer protection. From online security features to customer-dedicated privacy policies, online payday lending is designed to offer safe & secure solutions.

How are fees determined?

All responsible lenders, which are licensed by the states in which they do business, follow strict regulations put for by the legislature in your own state.

Do I need a credit check to get payday loans?

In most cases a credit check is not needed to take out a payday loan. Cash advance lenders do, however, use services that verify every clients correct information in order to expedite and ensure quality in the loan process.

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