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Frequently Asked Questions:
Q: Can I apply by phone?
A: Absolutely. At Payday of
South Carolina we encourage customer interaction so we can better understand your
financial needs. Please call us today at (866) 933-8278.
Q: What do I need to qualify?
A: It's easy to qualify for a
Payday of
South Carolina Loan. You must have a checking account in your name. You must have
direct deposit of employment earnings into your checking account, no
less frequently than twice a month. You must have full time
employment. You must be able to be contacted at work. You must have
access to a fax machine. You must be 20 years or older.
Q: What if I have bad credit or no credit?
A: You can still qualify for a loan with us, even if you have bad
credit, slow credit or no credit. Simply complete the online
application form and we can approve you regardless of your credit
score.
Q: What do I need to fax to your processing center?
A: Complete copy of your most recent bank statement, not more than
60 days old, for your direct earnings deposit account. Copy of your
latest pay stub. Copy of a blank, voided check. Starter checks are
not accepted. A clear copy of your State Id or Military Id or
Drivers License. All sections of the Application must be filled out.
Please remember, incomplete or unsigned applications will not be
processed. Fax your application to (413) 639-9693.
Q: What if I want to pay early?
A: Contact us if you want to pay off your loan early. You may not be
eligible for a refund. Q: How much will the loan cost? A: Payday of
South Carolina charges a fee of $30 per $100 borrowed.
Q: How long until I get the money?
A: We will deposit the money into your Checking Account the very
next business Day. We cannot make deposits on Holidays or Weekends.
All approved paperwork must be received no later than 2pm CST.
Paperwork received thereafter will count as the next business day.
Q: What is the cost of credit?
A: The cost of receiving a payday loan is $30.00 for every $100.00 borrowed. For example, if you borrow $100.00 for 14 days, your interest rate would be 30% and your APR would be 782.14%. For more information about our fees and APR charges, please click on the link provided. Fees Schedule (this should be a link to the fee schedule page)
Q: What if I can't pay the entire amount due on my due date?
A: We understand that making the full payment on the due date may be difficult, so we have provided you 3 methods of making payments on your loan.
- Pay entire outstanding balance
- Extension - Pay outstanding Interest and Fee
- Extension Plus - Pay outstanding Interest and Fees as well as an additional amount towards principal
Making a payment by using any of these methods will not incur any additional late fees or other charges.
Q: Can I do an extension(rollover)?
A: You are allowed a maximum of 4 extensions. Your loan may not exceed 12 weeks. You must contact us no later than 2 days before your loan is due. If you choose to extend your loan we encourage you to use the Extension Plus method.
Q: Can I pay my loan off early?
A: Yes, you may pay your loan off early. There are NO early payment penalties and you may be entitled to a rebate of interest, should you choose to pay your loan off early.
Q: What if I decide I don't want the loan(rescission)?
A: You may rescind your loan by contacting us by phone (1-866-933-8278) before 5 pm MST the next business day .
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