However, there can be no denying that military personnel are not like other people who take payday loans, and it is good to see that the powers that be have taken this on board, and are attempting to deal with it through additional training and education. Most people who submit requests or applications for payday loans are approved during the day and they receive the amounts they loaned during the next day. This is because lenders demand only the minimum requirements. How it was possible for something that worked fine last season was now not working, even after going unused for several months was beyond me? Good thing for payday loans. We were able to call the serviceman the next day and had things up and running again in no time. Does it ever seem as if you can never quite get ahead? Something is always in need of fixing or repair, especially when it comes to around the house. It would be nice to have access to some quick cash for when these little problems decide to spring up, most often when you are least expecting them to. Are you a homeowner? Your identity cannot be easily confirmed. If you decide to use false or inaccurate information on your application or your contact information is no good, lenders are not going to consider loaning you money.
On this particular day, a number of dogs were all chasing the same toy. Rosie came away victorious, toy in mouth prancing for all to see. A payday loan was our little blessing in disguise during this unexpected situation. There are exceptions out there of course. You filed bankruptcy in the last year. When you file bankruptcy you are declaring yourself unable to support yourself financially. Similar to the previous situation, these outstanding loans or habitual bad check writing instances will urge lenders to deny the application. Keep in mind these details when applying for your payday loan. Also make sure you apply well before normal banking hours as your information will be unable to be verified after hours and this may cause your funds to be held till the next business day. Just think of the long and miserable summer it would have been if we had not gotten the cash advance we needed to fix the air conditioner properly and get our little sauna back under control. It was quick cash, we got it fast, and we are much cooler and more comfortable because of it. Most lenders want you to be at the same job for a minimum of 6 months. The payday loan is a loan against your future wages. If you are not employed you have no payday and no way to repay the loan.
Most lenders feel one year is not enough time to recover financially. And this is equally not saying that payday loans are of themselves a bad thing. Anyone who has used such a loan to dig themselves out of a hole will probably have no problems with payday loans, on one proviso. That is, that they paid it back in time! Most lenders prefer your account to be at least 3-6 months old. Again, this shows stability and that you do have some control with your money. Lenders are on alert to these issues and they say to them that you are not a dependable loan prospect. Stories of both Army and Navy officers falling prey to such lenders are fairly easy to come by, and of course, the last thing that such soldiers, sailors and officers need at a time of war are the additional stresses placed on them by increasing debts. In fact, the problem has now got so bad that many military bases are running training courses in responsible personal financial management, a key module of which is teaching the younger servicemen and women about payday loans. In particular, these courses are designed to teach the students how it is probably best to avoid payday loans completely if at all possible, or, if not, how to deal with them responsibly.
However, there may be few instances when the online application is denied. If your loan was not approved, here are the top ten reasons why. You are not employed. You have not been employed for the minimum number of months. You have unpaid payday loans or returned checks. You only receive wages once a month. On average, most online lenders have a four out of five approval rate. For instance, earlier this year I was having some trouble with my air conditioning unit. It was beginning to get warm enough during the day that we decided to make things a little more comfortable around house and turn the air on. If your loan request is denied but not due to any of the ten reasons above, you should contact the payday lender and ask for details. At any moment, something unexpected may happen and require you to dip into the money you have saved for such so called emergencies. Several of these unexpected moments and you are no doubt going to be feeling the crunch financially, which can only add to the stress and strain of everyday life. Of course, this cannot get away from the fact that military personnel are no different to anyone else, and they will have times of cash flow problems, just the same as their none military counterparts.