Payday Loan Service Debuts New Educational Material

Los Angeles, CA -- (SBWIRE) -- 10/22/2012 -- Payday Loan Service has just released a new article on its website to help consumers considering taking out a cash advance but confused about what is involved in obtaining one. The article “Getting Started” is designed to assist readers in understanding the online loan application process better so they know what to expect when pursuing quick funds. It is also intended to provide them with a list of minimum requirements they need to meet if they hope to qualify for a loan.

“Consumers often avoid getting a loan because they are afraid of the long-term commitment that normally comes with borrowing money, but thankfully, cash advances don’t require any such commitment,” says company spokesperson Victoria Hobbs. “When you take out a loan from one of our affiliated lenders, you’re only borrowing the money until your next paycheck. Most loans are issued for either a two- or four-week period. And because you can borrow as little as $100, you don’t have to borrow more money than you can safely pay back within the agreed timeframe.”

The lenders who work with Payday Loan Service specialize in providing small loans to people caught up in financial emergencies. In order to qualify for assistance, potential borrowers must show that they earn a steady income of at least $1,000 per month after taxes. They must also have a bank account in their name and be able to prove that they are either an American citizen or permanent resident of the United States.

Those who meet the minimum requirements can start the online application process by filling out a simple, brief form on the Payday Loan Service website and requesting approval. In most cases, an answer is provided in a matter of minutes. Online loan applications have a number of benefits, including the fact that they are available seven days a week, 24 hours a day. This means consumers don’t have to worry about finding an open lending office in their time of need.

Once Payday Loan Service preapproves a would-be borrower for assistance, the individual normally gets to read through a number of loan offers from individual lenders associated with the company. These offers all comply with the federal Truth in Lending act, which specifies that consumers must have all required loan-related information before being asked to sign on the dotted line. As part of their commitment to these rules, lenders will disclose their loan terms, interest rates, late fees and other additional charges that might apply at the time they make an offer.

By connecting consumers to lenders offering quick, hassle-free loans, Payday Loan Service works to assist people in achieving their financial dreams, and at the same time, help them get out of difficult situations.