Wefixmoney.com provides several debt relief and management services that serve as the lifeline for low to middle income consumers who need an infusion of capital, debt consolidation, debt negotiation, debt relief thru bankruptcy, etc. This article will tackle the definition, process as well as helpful tips and techniques in applying for payday loans.

Payday Loans defined: Other Providers vs. wefixmoney.com

As a general rule payday loans are defined as:

1. Cash advances based on an employee’s monthly income;
2. For a relatively short period of time;
3. involving a small amount of money or a fraction of a month’s salary;
4. Payable on one or two installments.

Conventional Lenders usually require:

1. Extensive documentation, usually faxed or photocopied
2. 1 or 2 days approval
3. High interest rates and obscene penalties
4. Good credit rating or at least one above the federal and state median

Wefixmoney on the other hand guarantees:

1. Little or no documents to be faxed. All that is needed is an authorization letter or other personal or financial information (SSN, Credit card Number, and W2, TIN).
2. Bad  credit OK
3. Same day, even 1 hour processing
4. Online application
5. You are routed to the lender that is best for you

Payday Loan Characteristics

A payday loan is a financial tool that is supposed to provide some breathing space to a consumer who needs a fast infusion of capital for emergencies. This means that the amount should be significant enough but not too big as to overburden the consumer when payment time arrives. It is also important that the interest rate is reasonable given the increased risk involved.

However a payday loan should not have the following:

1. Costly overdraft charges and fees: Let us face it a lot of unscrupulous lenders make a killing by padding charges and fees. In order to avoid falling victim to this scheme then read the contract properly and ask questions regarding miscellaneous fees, charges and penalties
2. Late fees: Late fees are acceptable but it should be conscionable and flexible enough to be waived if there is a valid excuse for the missed payment.
3. Identity theft issues or risks: Before a consumer is approved for a loan he or she must provide some personal as well as financial information. For example, address, phone number, last four digits of the social security number, or credit card number, etc. These are highly sensitive information that should be protected by the most advanced software and not kept or sold to another

wefixmoney: Loan Application Procedure

Most lenders require the borrower to go to their office, bring the original as well as photocopies of valid identification cards, fill out a form and wait a day to get approval. This is not the case with we fix money. The entire process as well as the loan take out can be had online. All the consumer needs to do is go to the website and apply online. The process is simple. The required information that can be filled out online are:

Step 1: Pre qualification

1. Last name
2. First name
3. Address
4. Phone numbers
5. Email address
6. Complete physical address (street, city, state, zip)

Wefixmoney Question and Answer

Can I talk to a representative and apply via the phone?
No. A loan cannot be applied for and granted via the phone. Everything is online and automated.

Why did I get redirected to another page when filling out the forms?
This is standard operating procedure. This is because wefixmoney directs the consumer to the best lender possible given the information available.

Can an application be denied?
Yes, not all applications get approved. Minimum requirements must be met, such as:

1. 3 to 6 months stay on the current job is required
2. Checking account is required
3. Other factors that may affect the outcome are, bankruptcy filing, liens, garni9shment, support, etc.

What happens to the information inputted?
The information is stored only for so long as required and then deleted in compliance with federal and state statues. They are not sold as leads. In addition, all information stored by wefixmoney.com is protected by some of the best encryption technology in the market today.