(PRWEB) February 08, 2012
CheckDepot.com has launched a new “How It Works” page to educate loan applicants about the payday loan process. This new online resource answers customer questions regarding the risks and benefits of quick cash loans. Payday loans are small, short-term loans that provide fast cash to for unexpected expenses. Borrowers are expected to repay these unsecured loans during their next pay period. By providing these free educational materials, CheckDepot.com seeks to help potential applicants smoothly complete the application process and receive the loan funds they need.
“CheckDepot.com strives to provide our customers the latest information regarding payday loans,” says CheckDepot.com spokesperson Michael Vaughn. “Our goal is to offer loan applicants a fast, convenient online application, as well as details about interest rates, fees and other finance charges associated with payday loans. The articles are written in easy-to-understand language, so visitors can borrow money safely and responsibly. This new educational resource is way of providing customer service and gaining the trust of our customers.”
Visitors to check depot will find new content that outlines general loan qualifications, how lenders establish their interest rates and fees, how state regulations affect the interest rates and fees customers are charged on their loans, and online security measures. Other articles explore loan repayment plans, how loan funds should be used, and even how a payday loan can help repair a customer’s credit. Loan seekers can access these articles directly from the updated site’s homepage.
To qualify for a payday loan, applicants must have an income of at least $1,000/mo. after taxes, employment for at least 90 days, and a checking account in their own name. Additionally, all payday loan applicants must be U.S. citizen or permanent resident, have a valid email address, and a work and home phone number. The loans are usually approved within minutes and applicants can receive their loan funds via direct deposit within 24 hours.
In addition to the new “How It Works” page, the updated CheckDepot.com also features information about the benefits of payday loans, loan amounts, and state and federal lending regulations. Lenders are obligated by the Truth in Lending Act to inform customers about the interest rate and fees they will be charged prior to signing any loan documents. The new content helps explain the application process and ensures that borrowers understand the financial ramifications of payday loans.
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Source Article from http://www.prweb.com/releases/2012/2/prweb9180091.htm
