A payday loan is usually due on the date you receive your first paycheck after taking out the loan. However, some lenders require that loans be repaid within 14 days, even if you get paid only once a month. Other lenders may allow you up to 35 days to repay the loan. What happens if I can't pay muthoot finance personal loan eligibility a payday loan.
If you can't pay back a payday loan, the lender might automatically withdraw the funds from your bank account. If there is insufficient money in your account to cover the charge, this could trigger bank fees. If the lender is unable to recover the amount due, your loan might be transferred to an outside collections agency, and this transfer could take place in as little as 30 days.
The collections agency could sue you for the amount due, and this could eventually result in property liens or wage garnishment.
You will be responsible for the lawyers costs Ensure that you do not fall into this category. Ensure that you discuss your loan options in order to find a risk free and financially viable option. Collection practices: Depending on your agreement collections will be made via debit orderstop orderpayroll deduction over a repayment period of 12-72 months, unless otherwise specified. Loan Rate and Loan Process.
Loan Process Step1:Apply online with the easy form Step2:Loan process free of charge with loan specialists Step3:Get your instant loan cash loan on the same day. Loan Rates -8.
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You will be required to repay your loan on time to avoid extra interest or fees. Personal loans for people with bad credit that offer monthly payments may be available please consult your lender.
Loans are not available in all states even if you apply on the internet. All short term lenders have the right to run your credit if they deem it necessary.
3 Simple Steps to Obtain Your Loan. Pre Qualify: To pre-qualify for payday loans online muthoot finance personal loan eligibility must have income of 1000 dollars per month and be at least 18 years old.
Your income can come from a job, benefits, disability or anything along those lines. Complete the Application: We utilize a short and easy fast loan advance application.