Frequently Asked Questions - General

What does Payday Loans Index do, exactly?
Payday Loans Index helps consumers find the right loan or loans, based on their needs and current circumstances. Payday Loans Index pioneered the lender-to-consumer pairing process, making it easier and more convenient for borrowers to have access to many different loan sources. This gives the consumer more flexibility and options when it comes to finding the right loan for their needs.

How long has Payday Loans Index Been in Business?
Payday Loans Index has been in business helping consumers since 2006.

Where are you located?
We are located at Duluth MN 55811 on the shore of beautiful Lake Superior.

How much does it cost to use Payday Loans Index?
Nothing. Payday Loans Index does not ever charge a fee to our customers for using our services.

How do I contact Payday Loans Index?
Our address, phone, and email address are located on the contact us page.

Who do I contact for general questions about Payday Loans Index products and services?
Payday Loans Index Customer Support Representatives are available by phone Monday through Friday, from 8 a.m. to 5 p.m., to answer questions about our services. If you have already been approved and accepted a loan, make sure you have noted the lenders contact information as you will need to speak with them at that point.

Why should I use Payday Loans Index?
Payday Loans Index helps consumers find the right loan or loans, based on their needs and current circumstances. We have unique access to 1,120 payday loan sources. With one short, secure, and simple application, we can pair you and your circumstances with the right loan for your situation.

How does Payday Loans Index protect my personal information and privacy?
We utilize SSL (Secure Sockets Layer Technology) on all pages (https://) as well as being certified with both Verisign/Norton/Symantec and McAfee. Information transferred to loan sources during the pairing process is 256 bit encrypted for your protection.

Was Payday Loans Index involved with the FTC?
Yes, in 2008 a final consent was issued by the FTC stating that we agreed to be fully compliant with the truth in lending act.

Why is being paired with a lender using Payday Loans Index’ process better than just applying directly with a lender?
To put it simply, Payday Loans Index is able to take your unique borrowing needs into consideration when pairing you with a lender so that you know you have found a lender capable of meeting your specific circumstances. Applying directly with a lender limits you in regards to your financial options. Whatever that one lender offers is all you have to choose from. With so many different lenders to choose from, you could end up searching and filling out forms for days while trying to find the right loan. We make it easy and do the work for you- quickly and securely. In a matter of minutes, you can be approved and in anywhere from a few minutes to a few business days have your funds.

What are the requirements to use Payday Loans Index?
You must be at least 18 years old, a resident of the United States, have access to a computer or smart phone and the internet.

What kind of loans can I get?
Currently Payday Loans Index’ network of loan sources has access to lenders that handle personal, personal loans for bad credit, and small business loans.

Can I apply online?
Absolutely! Filling out the application online is the most convenient and secure way to start the process. It allows you to have all of the necessary materials on hand and complete the application completely and accurately without wasting any time. No matter where you are, if you have internet access, you can apply for the financial help you need at any time of day or night. Our website never closes.

Can I apply in person?
Yes, you can come into our office and apply. However, it is much easier to do so from your own computer where you will have all of your information on hand so that you can fill out the application completely and accurately.

Can I apply over the phone?
Yes. But again, it is recommended though that you apply online rather than in person or on the phone. Applying online allows you to have all of the materials you will need gathered ahead of time so that you can accurately and securely complete your application.

Do I need collateral to apply for a loan?
You do not need collateral to use Payday Loans Index’ lender-to-consumer pairing process.

Does it matter what my credit score is?
Whether you have perfect, average, bad credit, or even no credit at all, you can take advantage of our simple consumer and lender pairing process.

Is my credit report checked?
Payday Loans Index does not perform a credit check. The lender may perform a credit check, depending on the type of loan, or otherwise verify the social security number or other information that has been provided to the lender by the consumer. You’re best served by reviewing the FAQ section for the specific type of loan you wish to apply for.

Is my personal information safe?
In this day and age we all need to take the security of our personal information seriously. This is why at Payday Loans Index we not only use (https), but we also have our site scanned on a consistent basis and protected by both McAfee and Verisign/Symantec/Norton. Information that is transferred to any lender is 256 bit encrypted.

How do I stop from receiving marketing materials or emails?
You can simply use the form on our opt-out page and within 48 hours you will stop receiving marketing materials and emails from Payday Loans Index.

I am not receiving emails how do I opt-in?
At this time there is not an option to opt-in.

Are all online lenders the same?
Unfortunately not all online lenders are the same. Some do not adhere to the FTC’s truth in advertising or CFSA and OLA’s best practices and guidelines. This is why it is very important that you verify the standards and practices of any loan source you do business with. Make certain that they list all of their terms and conditions, as well as prominently display any disclosures. Do not sign for any loan until you completely understand that terms and conditions that you are agreeing to.

What is responsible lending?
The onus on the lender directly to lend in a fair manner to consumers and disclose all the proper information in a complete and forthright manner and maintain affordable fees. Lenders must also be compliant with the Truth In Lending Act and fair in all collection practices, as well as following state and federal guidelines.

What is an APR?
APR stands for Annual Percentage Rate. This is the interest a loan accrues for the life if the loan expressed as a yearly percentage, rather than as a monthly or bi-weekly fee, for a loan, credit card, or mortgage.

Who do I contact if I need help with my credit score?
If you need to check your credit score you can go to any of the main credit bureaus’ (TransUnion, Experian, and Equifax) websites for your free credit score.

Who do I contact for debt counseling?
National Debt Relief - Offers a Free Debt Relief Quote or the regulatory agency in your state can often help direct you to excellent debt and credit counseling services.