We’ve all been there. Being short on money is never fun, especially when you have bills to pay. But what can you do about it? Where do you turn when you need help? How can you get the money to pay off that pill, fix that leaky faucet, or have that important part changed on your vehicle? Luckily there ARE places that will help you, and these places are right here in North America. Enter the payday loan.

A payday loan is pretty much what it sounds like. You go to these loan agencies, you tell them how much you make, and you will receive a percentage of your next paycheck. The next time you are paid, whether it be one week or two weeks from that time, you will pay off the loan. There are some requirements however that you will need to be aware of and follow.

When you get past this you will also need to bring in pay stubs or proof of income. This will be the biggest part of how they decide what to let you borrow. After all, they want to be paid on time.

Most loan agencies will require that you make at least $300 per week, but you can make less. If you do make less than that, you will only be eligible for about $100, but most loan agencies do not issue loans in such small amounts. That being the case, you should call ahead an check before you try to apply for any type of loan.

During the application process you will have to give them your name, number, a few references, the pay stubs, your social security number, and a host of other things.

The most common pieces of identification are your social security card and your driver’s license. If you try to use something else it will probably delay the process. The good news is if you have these forms of ID and can answer a few other questions you should be able to get a loan.

Once you are verified, you will need to set up a repayment schedule. You will probably be asked to pay back on the next payday, but some people are paid bi-weekly instead of weekly. In any case, you will need to tell them your payment schedule, and in some cases they may have to verify this with your employer. Once they do you will most likely be given your loan and sent on your way. As long as you remember to pay the loan back, you will have at least a portion of your next payday check to take care of your affairs.

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