Q.:What is a payday loan?
A: A payday loan is a short-term cash loan based on the borrower’s personal check held for future deposit or on electronic access to the borrower’s bank account.
Q: What is an installment loan?
A: An installment loan is a type of loan where you borrow a set amount of money all at one time.
Q: How does cashdepotomaha.com work?
A: cashdepotomaha.com is not a lender or broker. We do not make credit decisions. We are a loan referral platform. We work by connecting consumers to large and reliable US lenders that may be able to provide a loan.
Q: How do I apply for a loan?
A: You just need to fill out a simple application form on our website. We process it and match you with the most suitable lender for your needs. You are under no obligation to accept the offer. If you are satisfied with the rates and terms, accept the offer. Keep in mind that every lender from our network has its own rates and policies.
If you have any further questions about your loan, please contact the lender you got matched with.
If approved, you should expect to have the funds in your bank account the same day (usually within several hours).
Q: How much does it cost to use your referral service?
A: Using our referral service is free of charge.
Q: How much can I borrow?
A: Payday loans usually range between $100 and $1,000 (sometimes up to $2,500). Keep in mind that the loan offer may not match the amount you requested. Loan amounts you may qualify for depend on multiple factors: the lender’s policy, employment, income and other factors.
Q: How do I qualify for a loan?
A: Each lender has its own borrower requirements, but you must typically:
- Be at least 18 years of age;
- Have a bank account in your name;
- Have a steady income;
- Have a valid email address and phone number.
Q: What information do I have to provide during the application process?
A: You will need to provide personal, financial and employment information. This information includes your name, address, phone number, employment status, monthly income, driver’s license number, SSN, bank account information, etc. Always provide the correct information when applying for a loan.
Q: Is the information I provide secure?
A: Yes. We use the most advanced security tools to keep your personal information secure.
Q: When must I repay my loan?
A: Each lender from our network has its own terms and conditions regarding loan repayment dates. Your due date must be specified in your loan agreement. Payday loans are typically repaid within 1-4 weeks.
Q: Do payday lenders check my credit score?
A: Some lenders from our network may check credit scores before making a credit decision. Lenders typically use the three major credit bureaus for this (Experian, Equifax and Transunion). Many lenders will approve your loan application without checking your credit.
Q: Can I extend my loan?
A: In most cases, your loan can be extended if you cannot repay your loan on time. Be sure to contact your lender in advance to find out if the extension option is available.
Q: What happens if I don’t pay a loan back on time?
A: This can cause your credit score to lower, your wages to be garnished, and future loans to have high interest rates. Your loan also could get turned over to a debt collector, who will work to get you to repay your debt in full. The loan defaulter will not go to jail. Defaulting on a loan is a civil dispute.
Q: Is loan approval guaranteed?
A: We cannot guarantee that you will be approved for a loan, but approval rates are very high – up to 94%.
Q: How do I know if my loan request is approved?
A: Normally, you will know if your loan request is approved within 1-5 minutes or even faster.
Q: What are the terms of a loan?
A: Since we do not issue any loans, we can’t quote your loan rates and terms. Your individual rates and terms will be disclosed in full by the lender you got matched with. These data will include APR, due date, origination fees (if any), etc.
Q: Can I qualify for a payday loan with bad credit?
A: Bad credit does not prevent you from getting a payday loan. It is more important that you meet other borrower requirements like having a steady income and a valid bank account. Every day people with bad credit are accepted for payday loans through our referral service.
Q: How many payday loans can I have at once?
A: Each state and lender have their own policies regarding the number of loans you can have at once. In most cases, payday lenders should not be providing anyone with more than one payday loan at any given time.
Q: Do I need to be officially employed to qualify?
A: You are not required to be officially employed to qualify for a loan online. Some lenders accept social security, pension, disability, or other kinds of benefits, as income. If you receive at least $800 each month and meet other borrower requirements, you may be able to get approved.
Q: What can I use my loan for?
A: You may use your loan for whatever purpose, including weddings, car repairs, medical treatment, debt consolidation, vacation, business trip, a large purpose, etc.
Q: What is an APR?
A: An APR is the interest rate you are charged for borrowing money. Typically, APR ranges from 391% to more than 521% for payday loans.
Q: Why should I use your website?
A: Millions of Americans have already used our website to find the best payday lender. We offer fast, quick and secure access to the most reliable US lenders. Using our website, you can fill out one single application instead of waiting in queues or searching for the best lender independently. We make the entire process hassle-free!
Q: Do payday loans affect my credit history?
A: Payday loans shouldn’t usually affect your credit score, but it really depends on the lender’s criteria. If you cover your repayments in full and on time, payday loans won’t have a negative effect on your credit score.
Q: What states do you operate in?
A: We currently operate in the following US states: Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming.
Q: Is my information safe?
A: Yes, your information is secured. Our website is using up-to-date technologies to protect your personal data. Moreover, we never give your details to any third party.