Frequently Asked Questions about I Love Payday Loans

Here are the answers to the most commonly asked questions about I Love Payday Loans.

What is I Love Payday Loans?

I Love Payday Loans is a free matching service that connects borrowers with payday lenders that can meet their needs. We work with many different payday lenders to accommodate the needs of visitors. Our services are free and come with no obligation. Our goal is to help you find the fastest and most affordable payday loan possible.

How do payday loans work?

Payday loans are short-term loans that are secured against your next paycheck. They are intended to help you cover relatively small but urgent expenses that come up while you are in between paydays. If you qualify for a loan with an I Love Payday Loans lender, you will usually have to complete the application process via telephone and possibly fax in documentation to support the information on your application. After this, the lender will electronically deposit the funds into your bank account (varies by lender).

How does repayment work?

Each lender will have a different repayment process, so you should ask your individual lender for further information. Usually, though, the lender will automatically withdraw the amount of the loan plus a finance charge from your bank account on the due date. Many I Love Payday Loans lenders will allow you to extend the loan for more time if you need it. To exercise this option, you must pay at least the finance charge on the due date (varies by lender).

What do I need to qualify with I Love Payday Loans?

Each lender has their own qualification standards. In general, they usually require that you be at least 18 years old, a U.S. citizen, employed and earning at least $1,000 per month, and have a bank account with the direct deposit feature enabled.