Especially in depressed economies, over the phone payday loans are a quick and easy way to generate liquidity to pay bills, or other unexpected expenses that may arise.  We have all been there.  It is the middle of the month, you have a major car repair that you need to pay for, and it cannot wait until payday.  In these situations, it makes sense to find yourself an over the phone payday loan.  Over the phone pay day loans make sense from a handful of perspectives.  First, over the phone payday loans do not require you to drive anywhere.  Second,  phone in payday loans allow you to shop around for the best interest rates available across the country.  Third, over the phone payday loans allow you to get the loan anonymously, rather than dealing face to face.


What is an over the phone payday loan: Payday loans are short-term loans provided as a stop gap between the time of the loan and the date of your payday.  Payday loans help people cover short term expenses that arise for various reasons.  Payday loans work like this, if you usually clear $1,000 per paycheck, but you do not get paid for another week and need cash today, you call an over the phone payday loan company, provide them with historical payroll information, and they will send you cash right away.  The amount sent will be less than your usual paycheck, say, $750 instead of $1,000, but that is the price of instant liquidity and it covers the payday loan company’s risk that your paycheck never arrives.  A phone application pay day loan is a good quick way to get short term cash to cover expenses.


What companies offer over the phone pay day loans: There are a number of companies that offer phone application payday loans.  Some are more reputable than others so we will provide you with a list of trusted over the telephone pay day loan companies throughout the United States.  Sonic Cash, PayDay Loans By Phone, Cashgo and Fast Wire Cash are all over the phone payday loan companies that we would recommend.





What information will the payday company need:  The typical information required to process a pay day loan over the phone is proof of residence, proof of a valid checking account with a routing and account number, and a history of consistent payments on specific payday dates.  Over the phone payday loans generally require more information than face to face payday loans since there is more risk on the part of the lender.


How Much Can I Borrow: Over the telephone pay day loans are usually capped at around $1,000.  Most loans from these short-term lenders are made to cover last minute bills and should not be used on a regular basis.  The interest charge is generally very high, therefore reducing your effective monthly income.  Again, this should be a last resort, not a normal occurrence. 


Have experience with over the phone payday loans?  Write your comment below.