EZMoney.com announces the addition to its site of a new article that details the payday loan process. A payday loan provides borrowers with immediate cash to cover necessary and unexpected expenses -- such as rent, car repairs, household repairs and medical bills -- when they are between paychecks and low on cash. The new "How It Works" article explains to customers the benefits and risks of small, short-term, unsecured payday loans. The creation of this educational resource helps customers borrow loans safely and easily.
"The purpose of EZMoney.com is to provide our customers with the most reliable information about the payday loan application process and the payday loan industry," says EZMoney.com spokesperson Michael Vaughn. "The new article is well-written and highly informative, with lots of in-depth research about borrower loan qualifications, how lenders determine borrower interest rates and fees, and loan repayment procedures. We want to give people the most up-to-date information possible so they can make a reasonable and thoughtful financial decision."
With the article, located on EZMoney's homepage, customers can learn about the benefits that come with receiving an easy money payday loan. The article also explains the simplicity of the loan process. Usually prospective borrowers can apply for a loan, which is done by completing an online application form, even if they have poor or no credit, and no credit check is required. Additionally, they will learn about lender procedures and state lending regulations regarding interest rates and fees. From the EZMoney.com website, individuals can access a lender in their area that offers loans matching their borrowing criteria. Loans generally are deposited into a customer's checking account within 24 hours, and can be anywhere from $100 to $1,500.
The educational resource also shows borrowers how to evaluate and compare lender offers, and understand how lenders determine the interest rate and fees charged on their loans. Furthermore, the article explores the loan repayment process. Often, borrowers must repay their loans during their next pay period. If they cannot repay their loan on the specified repayment date, the borrower can make arrangements with their lender. Loan repayment funds are generally drafted directly from the borrower's checking account on the date the payment is due.
In the "How It Works" article, site visitors will find information about the basic qualifications they need to meet to obtain a payday loan. Among these qualifications are that an individual must be a U.S. citizen, must be at least 18 years old, must be currently employed with at least 90 days at their job, and must have an income of at least $1,000 per month after taxes. Additionally, borrowers must also have a checking account in their name, working home/work phone numbers, and a valid email address. EZMoney.com offers this article to guide its customers through the payday loan process and to improve its relationships with them.
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