| What is a Payday Loan? | | | | providing you meet the basic criteria to qualify for a |
| A Payday Advance is a type of loan that gives the | | | | Payday Loan, your application is likely to be accepted. |
| borrower the opportunity to borrow money over a | | | | A credit check basically consists of the Cash |
| short-time frame and to do so quickly. Providing they | | | | Advance Company consulting with various third party |
| meet the relatively less stringent criteria set down by | | | | organisations to analyse your credit record and |
| the overwhelming majority of Payday Loan | | | | safeguard the application against fraud. The Payday |
| Companies, most Payday Loan Applications are | | | | Advance Company will consult with Fraud Prevention |
| approved within 24 hours, and more often than not the | | | | Agencies (and Credit Reference Agencies. Whenever |
| borrower will receive the money the same working | | | | a Cash Advance Company searches a CRA for |
| day. Payday Advance Loans can be used for nigh | | | | information on an applicant it leaves a marker on your |
| any purpose, from purchasing a new computer to | | | | credit record, and this marker can be seen by other |
| paying of an essential medical expense - whatever | | | | lending agencies, including Payday Lenders. |
| you choose to do with your Payday Advance Loan is | | | | The information provided by CRAs and FPAs includes |
| up to you. | | | | both public and private information, private information |
| What happens to my data when I apply for a Payday | | | | being that which is shared between lending companies |
| Loan? | | | | and authorities. |
| Depending on whether you apply through a company | | | | How do I apply for a Cash Advance? |
| registered under the Data Protection Act, your data | | | | Applying for a Cash Advance Loan is relatively simple. |
| should be stored and utilised securely by the company | | | | In days gone by you would have to fax documents |
| to which you made the application. When you apply | | | | and provide all sorts of identification in order to verify |
| for a Payday Advance a credit check is performed | | | | your identity. Nowadays, applying and being accepted |
| against your name to assess your eligibility for a | | | | for a Payday Loan is as simple as filling in an online |
| Payday Advance Loan. If you pass this check, and | | | | form. |