No fax loan is a term that borrowers look when they want to avoid hassleof faxing any kind of documents supporting employment income, banking information and identity. Lenders who advertise their loans as no fax loans are always require some kind of supporting documents to verify that you have an active chequing account and your payroll is directly deposited into that account. They usually require you to scan and email your bank statement, ids, pay slip and a utility bill. The reason why lenders ask for supporting documents is that it is almost impossible to qualify someone for a no fax payday advance without the above mentioned documents.
No fax loan providers charge with the rates charged by regular loan lenders
The conclusion is that if you are looking for a no fax cash advance,you are likely to end up forwarding your personal documents via email of fax in order to be approved for no fax loan. Lenders who ask for little information charge higher fees than more conservative lenders because they carry higher default rates than more conservative lenders. Before looking for no fax cash advances you should compare rates that no fax loan providers charge with the rates charged by regular loan lenders that might require you to fax or scan and email some supporting documents.
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