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  1. 1. As with any form of loan or credit, there are a number of rules and restrictions surrounding the accessibility of payday loans. Unusually though, these can vary from company to company, with some being stricter than others, imposing more stringent rules on their customers. With an applicants employment status playing a significant part in determining whether they are accepted or not, the frequency with which wages are paid is equally loans
  2. 2. Therefore, whilst some stipulate that you must earn a salary that ispaid monthly, other lenders are a little more flexible However,regardless of whether wages are deposited daily, weekly orfortnightly, it is essential that you earn a certain amount More oftenthan not, this minimum level will be around 750, although somepayday loan companies only require 500 As a result, as long as yourcumulative salary exceeds this, you stand a good chance of beingaccepted Very few people are paid daily, mostly due to practicalityand administration issues
  3. 3. As a result this issue is reasonably rare In fact, some lenders maynot even have a clear policy on this, so you may need to contactthem directly before applying The main issue for payday loancompanies when looking to accept applications from those whoarent paid monthly is that it can be difficult to define an ideal date onwhich to schedule repayments Ordinarily, theyd automatically seekto take the money on the next available payday Unfortunately, in thisparticular example, the salary you receive on a daily or weekly basisprobably isnt going to be enough to cover the cost of a loan,therefore the applicant will need to suggest a date that is moresuitable
  4. 4. From a lenders point of view, this could potentially be seen as anadded risk After all, the idea of a payday loan is for the lendingperiod to run up until the next payday, with this covering the loanamount Without this certainty, theres a much higher chance that theborrower wont be able to come up with the necessary funds Ofcourse this is sky loans only theoretical, but it is something that thecompanies need to consider
  5. 5. If you are being paid daily by your employers, you may need to looka little further when seeking a payday loan As mentioned, not everylender will be able or prepared to help, so you will have to locatethose who can You might well enjoy more success by using abroker, as they will often give you access to a number of lenders,each one having their own unique criteria for borrowers It may alsobe necessary to contact the payday loan company first to discussyour situation and see if they are able to help
  6. 6. So you might well be able to secure a payday loan, even if you arepaid on a daily basis However, due to lending restrictions, it mayprove to be a little challenging to do so Therefore make sure youspend a little time researching the market and find the companythats best suited to your needs
  7. 7. sky loans