Frequently Asked Questions
Any financial decision comes with questions. Here are answers to some of the most commonly asked questions related to various aspects of an instant approval payday loan.
How can I extend my repayment?
All of the companies that we work with offer flexible repayment terms. Contact the company that you are working with in order to see if you are eligible and to request an extension on your repayment. Sometimes, you will be charged a fee, but your repayment date can be pushed back to a time when you can handle the debit easily.
What are some of the repayment options?
As stated before, all of the companies we work with offer flexible repayment options if you need to take advantage of them. Here are some of the most common:
* Full Repayment – you pay the entire amount of the loan at once.
*Partial Payment – you pay part of the principal of the loan along with the interest accrued so far.
*Interest Only Extensions – you pay only the interest on the loan to extend your repayment day to the next paycheck.
Can I pay off the loan early?
Yes! In fact, if you pay the loan back earlier than your set repayment date, you may be entitled to part of your loan fee or interest payment back.
What if I can’t repay the loan right now?
As mentioned earlier, all of the companies we work with provide options for people in such situations. Contact the company directly to request an extension.
Why do I have to pay a loan fee?
Just like all other loans, payday advances come with interest that must be paid before the loan can be considered satisfied. This interest is presented to consumers in the form of a loan fee based on the state that you live in and the amount you are borrowing.
What if there is no money in my account when my repayment date arrives?
It is vital that you have the payment amount in your account on the day that the loan is due. If you do not, you must contact the company that issued the loan right away or you might risk losing the ability to get a future payday loan from any lender.
How does repayment work?
Because everything is handled electronically, your repayment is placed as an ACH authorization. In many ways, this is like a paper check. When repayment day arrives, the company that services your loan will present the authorization for payment. If the payment is returned, the company can and generally will re-present the authorization for payment.
How soon before I can apply for another loan?
Because there is no promise that you will get your second loan through the same company that processed the first one, you must wait for your repayment to clear and your information to be updated on the national payday loan database. This process generally takes two business days.
What if I have a question not covered here?
At Premier Payday Loan Source, we are always going out of our way to make sure that your experience is a good one. If you have a question that is not covered here, please do not hesitate to contact us or the company you are working with directly. Please allow up to 24 hours for a response from a Premier Payday Loans representative.
