No Fax Payday Loans?

A no fax loan means they do not require you to fax them copies of your paystubs or bank statements.

Almost all internet PDLs have the electronic signature now.

Hi smithjaddy,

They probably have you sign their application electronically. Since the Millennium Digital Commerce Act of 2000 electronic signatures are just as valid as a hand signed contract, in fact it was E-Signed into Law by former President Bill Clinton. Most of them want you to fax so that they have your signature on file.

Which PDL are you referring to? Are you thinking about getting a payday loan? If so - STOP!!! Read this page by the Federal Trade Commission - Payday Loans Equal Very Costly Cash. And here is DebtCC's Payday Loan info section.

Hope this helps,

chrys

Smithjaddy; if you are considering going for ANY type of Payday Loan I would urge you to look over posts on this forum. Just about all of us are here because of problems with those things. Please consider any alternative you may have (credit union, asking a relative to lend you $$, etc) before going to the payday loan companies for money.

Please consider another method of obtaining a loan. Maybe family or friends if possible. A paydayloan may look good for the moment, but can be a hassle if you cannot afford to pay it off right away. Best of Luck to ya :wink:

In my experiences with Payday Loans, I have found that Nofax PDL's are the worst of the worst, imho. Case in point: Cash Today, one of the worst PDL's on the internet, is a nofax PDL. Stay FAR away from them. Run. Run like the wind! I promise you: they will drain your bank account dry. You CAN'T win with them.

Hello Friends,

Thanks to everyone for you helpful reply. Actually I am looking for quick cash and someone has suggest me faxless payday loan for quick approved. But, before I apply for the faxless payday loan, I need some information. What is the Interest rate? Is their any hidden charges? I visit some advertisement on internet and they says: Apply for No Fax PDL, No hidden charge. Is it true?

Again thanks for your help...

First what state are you in?

Some payday loans are prohibited in some states and that means that if you are in one of those states and get a loan it would be with an unlicensed/illegal company.

Interest Rates vary from state to state. Some are very strict while others allow almost any amount.

As others stated a payday loan can become a trap. If you don't have the cash now you won't have it later when it comes time to pay the loan.

Some companies on the net are very sleazy and the faxless ones can be the worst. The basically just want your checking account information.

They basically get your info, give you the money but then only take out a fee each pay and none of that fee goes towards the loan. They are impossible to reach to pay off the loan which results in you over paying a lot and may result in you having to close your checking account to stop them.

I am not saying all internet loans are illegal or unlicensed but a LOT are.

Also remember once you give them your bank account information they have it FOREVER. Members have had loans and paid them off only to have companies give them new loans with no authority to do so. They have also been known to debt money after the loan is paid off.

You really need to re-think getting a payday loan ESPECIALLY an internet No Fax one.

If you REALLY need a loan, and you have exhausted all other options, I would suggest a legal store front before going to the internet.

I agree, the best route to go is a Leagal store front. Well that is if a PDL is your only option.

Please provide us with the stste you reside in so we can give you more information. Thanks!

Hello,

Thanks for your great support. As per your opinion I drop my idea to take faxless payday loan. I am from Miami Texas. Please give me more information on payday loan. Please suggest me any other payday loan option.

Thanks for your help.

Hi,

Here is a good page on the Federal Trade Commission website:
FTC Consumer Alert: Payday loans equal very costly cash.

Again, we are *strongly* opposed to payday loans here. They *will* make a bad situation *much* worse.

chrys

Hello All,

I am sorry for any inconvenience for my post.

As I am in search for payday loan service provider, I read somewhere that payday loan may be a convenient short-term solution. Borrowers can get trapped in a payday loan cycle of debt by taking out loan after loan ??? sometimes called ???rolling over??? the loan. In short as per there openion payday loan is a small, unsecured, high interest, short-term cash loan.

I just want to share this information with you which I find-out on internet.

Thanks,

smithjaddy that is why this forum exists. To help folks GET OUT of the PDL cycle. Thanks!