Angela’s car broke down five days before she was to get her next paycheck. If she was going to get back and forth to work she would need her car. She called several friends to borrow the money with no luck. Her friend Paul recommended and instant payday loan.
Angela told Paul that she did not have the credit to get a loan. Paul informed her that credit was not an issue with an instant payday loan. An instant payday loan is a low rate short term loan. This means that the amount borrowed can be anywhere from $100 to $1000. It is short term because it is usually only held until the borrower’s next payday.
Angela went online and found several instant payday loan sites. She found the company who offered the lowest rate and went to the question and answer section of the site so that she could understand all there was to about an instant payday loan.
Angela learned that in order to qualify for the loan she would need to meet a couple simple requirements. The first requirement was that Angela have an income. Many types of income were accepted. Income such as wages from a job, unemployment, temporary disability, Social Security, or workers compensation. Angela also learned that there are a few types of income which are not accepted. Social Security in another person’s name and state welfare are two examples.