Online Payday Loans Repayment Process and Terms
Important information for those people who want to apply for payday loans, if you are in financial crisis or facing lot of difficult because of bad credit or poor credit then the first thing you will think to get rid of this situation is to apply for short terms loans. This is the main reason we here a paydayloanswebsite.com going to discuss about the repayment process and terms of this loan. So, you do not face any type of problem while repaying the loan.
As you know payday loans are short term loans to solve short term financial crisis. It is offered for short period of time which range from 14 to 15 days or two weeks. Now come to the repayment process and know when you have to repay the loan taken amount. The repayment date of this loan is mentioned on the loan application form when loan is approved. Apart from this, we also send email regarding when you have to repay the loan amount.
Payday Loans Repayment Process
- We withdraw loan sum with interest rate electronically from the borrowers checking account, if they have enabled this service
- You can also submit post-dated check to our company
Apart from this, we provide 2 options for our clients for the loan repayment which is discussed below:
- The borrower can pay loan amount at once
- Pay money back in installments
It is necessary to advise all loan borrowers that pay the loan amount within repayment date to be safe from the extra charges or extra interest rate. Repaying loan on date makes your credit history good.
Now come to the main point, what will happen if you do not pay loan amount on time. First of all you will get information regarding your dues amount from the company. If you refuse to pay loan amount then legal action will be taken.
In-case, if you are unable to repay the loan then you needs to inform us and ask to extend the repayment period. This will save you from any legal action against you because you informed us and you will pay the money on extended date.
Therefore, the best option is to repay the loan amount on date and be safe from any type of future problem and one thing more, repaying payday loans on date will increase your credit score.ay Loans – Repayment Process and Terms