How It Works

Quick loans, often called payday loans, are specially designed to help out people who need money in a hurry. There are no complicated forms to fill out, and no long drawn out process to go through before you get a decision.

How It Works

We only need to get some very basic information from you, and you can provide it to us online. We need to know how much you want to borrow, from where you derive your regular income, how much you get paid, and some other personal details.

You must meet the following requirements before you can be considered for a loan:

  • You must be resident in the U.S.
  • You must be 18 or over.
  • You must be in receipt of a regular income.
  • If your income is from employment, you must have been with the same employer for more than 30 days.
  • You have to have an active bank account that your money will be paid into.

The process

Once you complete our online form, we search our database of payday lenders to find the best matches for your requirements, and we pass your application details to them. The lenders will decide whether or not to make you a loan offer.

When you get an offer, you have time to read the terms and conditions, and we strongly recommend you do that. If you are happy with the offer and the conditions, then all you have to do is let the lender know you want to accept the loan. You confirm your acceptance online. The lender will then transfer the money to your bank. You will normally get your money the next working day.

On rare occasions, a lender may want to get a little bit more information from an applicant before issuing a loan approval. The lender may require some documentation that has to be faxed. This does not happen very often.

Repayments

The lender will take out the repayment directly from your bank account. This makes it convenient for you, as you only need to ensure there is enough money in your account to meet the repayment.

It is important to make your repayments in full and on time. Pay day loans are intended to help people get some cash and repay it from the next paycheck. When this happens, the amount of interest paid is quite low. However, the interest rate on payday loans is high, so failure to make repayments on time can mean that the amount you need to repay will rise rapidly.

If you take out a loan and realize that you cannot make a repayment, you should contact the lender immediately. The lender will suggest the most economical option for you to deal with the late repayment.

The worst thing you can do is simply ignore the lender, and try to avoid contact with the company. Lenders actively pursue defaulters, and the defaulters will have to pay the fees associated with collecting the debt as well as the debt itself. As the debt will continue to accrue interest, defaulters can find themselves in very serious financial trouble.

Fortunately, the vast majority of people pay off their loans on time, and are delighted with the service we provide at Western sky loans. After all, in most cases we have got them out of a very tricky situation.