There is so much ambiguity surrounding payday loans for disabled and unemployed people, I started this site so we could cut through all the crap and find out really which company offers payday loans to unemployed people on benefits or disabled people on benefits.
After doing some research on pay day loan websites I came to the conclusion that these companies are not really clear whether they offer installment loans and payday loans to people who receive benefit. I decided to get in touch with these companies to find out exactly what their position is when it comes to offering loans to people on welfare benefits.
Today I’m going to be contacting Advanced Paycheck Now. I won’t give them a call, instead I will write an email asking them what services they offer disabled and unemployed people on benefits. Before I get t the email I just want to spend some time reviewing the website to see if they really do offer anything that’s worth applying for.
What do Advance Paycheck Now Offer?
Advanced Paycheck Now offers cash advances securely online, they use SSL technology so your information remains confidential. The application process takes only 2 minutes and you could get approval within minutes and you could have your money within 24 hours. There are no setup fees for new clients and you get a 24 hour toll free fax number to send all documents as proof, you could also go faxless and email all your bank statement and proof of identity to really speed up the process.
What Are The Requirements to Take Out a Payday Loan?
The requirement for taking out a cash advance or payday loan is that you need to have a direct deposit account, you must not have any outstanding bad checks and you must not have more than one outstanding loan with another company. You must have a minimum income of $1000 per month and you must receive that income twice a month. On the requirements it does not state whether this income needs to be paid income or whether it could be income from state benefits.
What Are the Fees and Charges for Advance Paycheck Now?
The fees and charges for Advance Paycheck Now is consistent with other pay day loan companies, they offer 1303.57% for a 7 day loan, 651.79 for a 14 day loan and 506.94% for 18 days. If you were to borrow $100 there would be a $25 fee and total due back would be $125, there is an extension fee of $25.
What is the Application Process for the Payday Loan?
You can apply online by filling in a short online application and then email or fax them your most recent statement or a 30 day online transaction report. The application process takes 2 to 3 hours and then if you’re approved the money will be directly wired to your checking account. When the money is due the payment is taken directly from your bank account.
Do Advance Paycheck Now offer Loans to Disabled People on Benefits?
This is the message that I sent to Advance Paycheck Now to find out whether they offer loans to people on benefits, I wanted to know whether people on unemployment benefits or disability benefits were eligible for their products.
Letter to Advance Paycheck Now Asking Them if they Offer Loans to People on Benefits
Dear Sir/Madam,
I wanted to apply for a cash advance/payday loan from Advance Paycheck Now. I am currently on benefits and am receiving unemployment benefits and disability benefits. I need to borrow a money for a period of 18 days and wanted to know if there are any products you could offer me.
I have checked all the content on your website and was disappointed that there are no facilities explicitly mentioned for disabled or unemployed people. Most people on benefits have a reliable source of income and I wanted to know if you regard these benefit
payments as income.
I look forward to hearing from you.
Thank You
No comments:
Post a Comment