Faxless Payday Loans

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When looking for a payday loan online, people usually want to avoid formalities and hurdles they get from traditional lending companies. They don’t want to submit documents by fax or mail  because it takes time, and is considered an invasion of privacy. People don’t want to prove what they say by providing necessary documents. Therefore, they chose to apply online for a loan where they think they can escape from this type of practices.

Faxless loans are real

It is very convenient for a borrower to be able to provide information through a single-page application without submitting additional supporting documents. It is true that many online lenders don’t require any faxes to be sent. Many lenders don’t ask for additional documents or verify the employment information. This greatly depends on the amount you want to borrow as well as other factors, like credit information for instance. Some lenders may ask for additional documents to be submitted for verification purposes, so the word “faxless” may not be accurate in such a case.

Credit check and faxless loans

As in the previous paragraph, the word faxless doesn’t mean there is no fax in all cases. The same goes for “no credit check”. Many lenders verify credit with different agencies. most lenders will perform some kind of a credit check. This is a must for a lender to make a decision. They may chose not to pull a borrower’s credit report from three major credit reporting databases, but some sort of credit check will certainly be performed.
Faxless payday loans are available in many states with the exception of the residents of New York, Arizona, Georgia, Virginia & West Virginia.