Need A Pay Day Loan? Make Sure You Have All The Right Information On Hand

If you need to apply for a payday loan, you need to make sure that you have all of the right information on hand. A payday loan lender is not just going to take your word for it that you make a certain income and are paid on certain days; they are going to need to verify all the information on your application. You can get a payday loan in as quick as twenty-four hours if you provide the right information with your loan. If you don't provide all the necessary information and evidence, the process can take much longer.

Identification Verification

Many payday loan lenders are going to want to verify your information and make sure that you are who you say you are. To verify your identity, you are going to need to take a picture or scan your driver's license, state authorized identification card, or passport. 

Social Security Verification

Next, most payday loan lenders are required to ask you for your social security number. If this is your first time working with that particular lender, they are also most likely going to ask to verify your social security number. You can provide verification by sending them a copy of a tax form that has your social security number on it or by sending them a copy of your actual social security card. 

Bank Account Information

Most payday loan lenders transfer the funds into your bank account and require you to allow the funds to be electronically transferred from your bank account on their due date to settle your loan. You are going to need to provide a copy of a blank check or provide your checking account number along with your routing number.

Income Verification

The most important element that most payday loan lenders are going to want to verify is your income. They are going to want to make sure that you bring in enough money every month to pay back the loan should they provide you with it and to verify the exact date of your payday, as that is generally the date that your money is due.

There are multiple types of forms they may ask for to verify that information. They may ask to see a copy of your pay stubs for the last few months. They may ask to see a copy of your bank account statement to verify the amount that is actually deposited into your bank account and to verify the day that the deposits go through. 

Depending on the loan and the terms, they may also ask to see verification of your overall income for the past year via your W2 or tax statement for the previous year. This is especially true if you are self-employed. 

Military Service

If you are in the military, different terms may apply to your payday loan, and you will most likely need to provide evidence to verify your military service. 

By gathering and providing all the information and evidence listed above with your payday loan, you increase the chance of getting approved as quickly as possible for the money that you need. For more information, contact a professional in your area or visit a website like