Payday Loan Applications
 

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 How Payday Loan Applications Work

 

Step 1

A consumer fills out an online form or faxes an application that requests personal information , bank account numbers, social security number, and signed paper work

 

Step 2

 

Borrower faxes copies of a check, a recent bank statement, and signed paper work.

 

Step 3

 

The  payday  lending company deposits the loan into the borrowers checking account

 

Step 4

 

On the borrowers next payday the  payday lending company electronically withdraws the loan payment or the finance charge form the borrowers checking account.