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We are here to provide you with reliable information about PayDay Loans, and the PayDay Loan Industry, so you can make an informed decision about applying and receiving a PayDay Cash Advance.  We can refer you to other trusted financial websites to help guide you with your PayDay Loan decision.

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We strive to provide a fact-based understanding of the PayDay Loan / Cash Advance Industry.  You need to start with a good understanding of PayDay Loans so you can make an informed decision.  We will try to keep our website fresh with important content that matters to you.  If we cannot answer your PayDay Loan related questions, then we will try to point you in an appropriate direction. 

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Lending Network

PayDayLoans-FYI.com is part of a lending network  We are neither a direct lender nor a financial institution.  All repayment terms and associated dealings are between you and the actual lender that will service your loan.  The lenders in our network have different loan terms, such as the loan amounts, the APR of the loan, repayment schedules and practices pertaining to the non-payment of loans.  Click on Rates and Fees to see representative examples of annual percentage rates (APR).

Implications of Non-Payment

Late/partial payments:  If the full amount of principal and interest is not paid in accordance with the agreed terms then you may be subject to a new finance charge and the payment date may be extended until your next pay date.  This new finance charge may be a flat fee, or may be calculated by applying the proportionate amount of the finance charge to the unpaid loan amount.  You are advised to review the late payment policy detailed in the loan documents provided to you by your lender before signing your e-signature, and thereby agreeing to the loan terms.
Non-payment:  Any action regarding non-payment may be initiated by the respective lender, not by PayDayLoans-FYI.com.  Additional fees or charges may apply to you in the event that you are unable to repay your loan.

Loan renewals:  Renewal policies are determined by the lender, not by PayDayLoans-FYI.com.  With every extension or renewal, a new finance charge ("Extension Fee") may be assessed by the lender, and the re-payment date may be extended until your next pay date.  Refer to the above Rates and Fees for some representative charges.

Automatic loan renewal:  Some lenders offer borrowers the option to automatically renew their short term loans if the funds are not available on the initial due date.  Borrowers should read the terms and conditions of their loans carefully.  

Collection practices:  Collection practices of lenders and/or any assignee(s) will vary.  Lenders may attempt to contact borrowers via one or more authorized methods, including phone calls and emails, to arrange for payment.

Impact to Credit Scores:  As with other forms of consumer debt, failure to repay short term loans in a timely manner may reflect poorly on your credit.  Your lender may report late or missed payments to the credit bureaus.  This can have an adverse effect on your credit score.