Why Use a Payday Loan?

You've had an accident.

You're short on cash and you won't be able to come up with any more until your next payday. No emergency funds. No credit card. Emergency services can't wait.

What do you do?

A payday loan might be your best option. It's safe and secure, with an easy application process that quickly meets your critical financial needs.

The first-time borrower may be intimidated by common misconceptions that the payday loan industry exists to hinder rather than help your financial situation. However, urban legends may be influencing you away from a reliable and secure short-term money solution.

The entire process really is easy, designed by lenders like Check 'n Go, to keep you moving toward fast results. A payday loan is a short-term personal loan backed by your paycheck. To begin, you fill out a secure online application with the most up-to-date information you have about yourself, including employment, income, and bank account information (supporting documentation may be requested in some situations). You will then sign an online agreement to the terms and loan amount requested. Once your application is verified and approved, you receive your money quickly. For an online payday loan, funds are electronically deposited into your checking account. Once you have received your funds, no further action is required. Online payday loans are then repaid with a pre-authorized electronic withdrawal from your checking account for the loan amount borrowed plus a finance charge on your next payday.

The online agreement electronically signed by you (the borrower) contains disclosures from the Truth In Lending Act (TILA), protecting your information under federal law. Most lenders also adhere to a strict set of conduct, 'Best Practices,' instituted by the Community Financial Services Association of America ('CFSA').

In the case of a short-term payday loan, the lending and underwriting charges are condensed into the lending period, generally two weeks, instead of over the course of several years, as with a traditional long term loan. This fee is presented as a straightforward flat rate due at the time of loan repayment.

While a payday loan is an excellent short-term financial solution, it is most effective when used responsibly. As with any loan, payday loans should be used for short term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling. CFSA approved lenders like Check n' Go offer advice and information on maintaining your financial strength and avoiding the continued need for loans. Used properly, a payday loan will get you the cash you need and quickly have you back on track to continued financial health.