Frequently Asked Questions

What does Payday Loan or Cash Advance mean?

A cash advance or payday loan is an unsecured temporary cash loan used to pay short-term expenses until the next payday comes along. Clients go for payday advances to be able to pay different small expenses that unexpectingly come up and to avoid bounced-check and penalty fees from ocurring. Send us your application for a payday cash loan and an electronic payment will be made to your checking or savings account.

What are the purposes of a payday loan?

The decision of what to do with the money belongs to you. Purposes can go from simple bills to an important celebration, or any costs that can unexpectingly come up.

What is the maximum amount I can borrow?

Your initial loan with us will be decided after an evaluation of the profile you sent us. Up to 1500$ can be borrowed and once you have paid back your loan, the maximum amount could be raised when you do business with us again in the future.

How are the fees decided?

The competitive fees that are charged abide by all applicable state and federals laws.
Fees can go from $25 to $30 per $100 loan, and that cost can vary from a lender to another. In other words, a $300 loan will charge around $75 to $90 in fees.

What are the requirements for a payday loan?

We do not perform credits checks, making things easier as far as the qualification process goes for a payday advance compared to traditional credit. All the following criterion should be met:

• Currently have a regular source of income
• Income adding up to $1000 per month
• Be a U.S citizen older than 18 years old
• Own a checking or savings accounts allowing direct deposit.

How do I apply online to get a payday loan?

The procedure to get a payday loan consists in filling and sending the appropriate forms founds at icapaydayloans.com. Once that is completed, your approval status will be changed to "ongoing" and a representative will inform you.

What personal data is required to successfully apply?

Name, address, details about job and source of income, bank information, and also a photograph are required to successfully send a payday loan application with us.

Will I encounter security issues concerning the private data I'm sending in?

As a financial management company, our client's privacy is one of our top priorities we will stay true to. We put in place a number of security measures so that your private data stays in good hands. Any information that would involve potential risk if intercepted is protected by our 128 bit Secure Socket Layer (SSL) encryption technology.

Do I have to pay just to apply?

No, all payday loan applications are free of charge.

Once I apply through the site and the loan is accepted, can I still cancel and turn down the offer?

Yes you can still withdraw your application at any time. Applying is actually only an initiation of the communication between you and our representative concerning your payday loan options. Once your interrogations are answered, you can decide if you wish to cancel or if you wish to make the confirmation that you are indeed officially taking the loan and agreeing to the terms.

What if my credit reputation isn't up to par?

Your credit reputation isn't looked up here at icapaydayloans.com. It will not effect the acceptation of your payday loan. Even if previous lenders didn't accept your application, our managers will collaborate with you no matter what.

Can my acceptation chances be influenced negatively if I don't own any properties?

No. Being a tenant does not influence your chances of acceptation on a payday loan.

Is there any document faxing involved?

No. There is no document faxing involved. The transfer of your informations to the lender will be done online instantaneously.

Is there a limit to the number of payday loan I can own at once?

Yes there is a limit. You cannot own more than one payday loan with us. You can apply for another once the first one is repaid though.

Will my former employers and current job be contacted?

No as the lending companies have to stay true to strict rules concerning privacy. Your private data will not fall into the hands of any third party unless law requires it or if you have agreed to it.

Is direct deposit necessary?

Yes. Direct deposit must be set up to apply for loans with icapaydayloans.com as it is the best mean of sending cash advances without compromising security and speed.

What are the delays once my application is accepted?

Only half an hour is required to process your application. Once it has been done, the cash advance can be sent to your account on the next business day. Also, a repayment date will be agreed on so that the deadlines are met without any worries on your part.

By what means will I be noticed of the acception or rejection of my application?

E-mail will be used to notify you as soon as your cash advance is accepted. Our company reserves the right to modify the terms to the approval of your cash advance until the funds are received by you according to the newest details concerning your application.

What are the terms and milestones on my cash advance?

The terms and milestones of your cash advance will differ from a state to another, as they each have different sets of rules and regulations. Usually though, we set the repayment date on your next payday, which is equivalent to between 8 and 25 days away.

Can the repayment be done earlier?

Communicate with our team if you want to clear your loan earlier than the final date. By doing that, you will receive back a part of the fee you paid for our services.

What happens if I haven't repaid my loan before the deadline?

If you are unable to meet the deadline and pay back the cash advance that was made to you, another deadline can be negotiated.

There are a few plans that you can resort to:

1. Pay the loan in full on the maturity date listed per your loan agreement.
2. Pay the finance fee and a portion of the principle on or before the maturity date.
3. Pay only the finance fee on the maturity date.

How many times and at what frequency can I get a payday loan?

Our team is always there for you if you're experiencing financial difficulties before the next paycheck comes in. We must specify that people should make responsible use of such cash advances and must not rely on them constantly in their budget. Payday loan were created as a last resort in case of emergency, not as a standard financial tool.