If you are considering a payday loan in order to cover some unexpected bills you might be wondering if you actually qualify. Generally speaking, this is one of the largest questions that consumers have, and frequently it is also the easiest to answer. For most consumers, getting a payday loan is incredibly easy and fast, but knowing for certain what is typically required can be extremely comforting when you are in the middle of a financial disaster that is threatening to harm your budget. The largest consideration that is important in trying to determine if you qualify for a payday loan is the presence of a checking account. If you have a bank account, you are in a much better situation to actually get the payday loan. This can be an enormous help since you will be able to use the money to quickly and easily cover bills. However, without a checking account, you are going to find it virtually impossible to obtain a payday loan since the loan is secured by giving the lender a post dated check.

Another large consideration in your ability to qualify for a payday loan is the presence of a job. While the lender is not going to heavily dig into your background or your credit report, they do want to know that you have a job and the means to actually repay the loan. Without a job, it is really hard to come up with money, which makes getting a payday loan virtually impossible. As you might imagine, there are some lenders who will require that you be on your job a certain amount of time, but typically, anything over 6 months is always considered good and most have no length requirements at all.

A home address is also needed. This information will likely need to be verified using a utility bill, or other piece of mail that arrives at your home address. This is typically extremely easy to cover, and does not require any complicated issues at all. However, if you have any problems with this requirement, most lenders will work with you to find an alternative solution that you can work within. Making sure that you check with the lender before you go to their office will allow you to be certain you bring the proof of residence that they need to speed up the process.

Many lenders also like to see a telephone number; however, this is not something that is an absolute requirement. Generally if you do not have a telephone you can still get the loan, and it will not cause any complications if you do not. With the number of people who choose not to have a telephone, increasing the payday loan industry is quite flexible for these consumers.

As you can see, the requirements to get a payday loan are quite flexible. There is nothing majorly complicated that will prevent you from getting the loan that you need. Taking some time to prepare ahead of applying will help it to go faster, but is certainly not required.