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Your approved loan amount will depend on your state’s laws and income level. $500 is a typical loan amount, but in some cases you can borrow up to $1000. Once your application is approved, you can decide on your loan amount which will then be electronically deposited into your checking account.
Choose Your Payment Option
Once you have been approved for a payday loan, you will also need to choose best payment option. By default most payday loan companies will charge you only a finance charge on your next payday. However, you can choose to pay part of your loan’s principal or all of it. The longer you take to pay back your loan, more you will pay in finance charges. Decide ahead of time how soon you can pay back loan amount and set up payment plan at beginning.
To view Carrie Reeder's list of most recommended payday loan companies, visit this page: www.abcloanguide.com/paydayloans.shtml. Carrie Reeder is the owner of ABC Loan Guide. It is an informational loan website, with informative articles and the latest finance news.