Mypayday Loan Review

Sometimes unexpected expenses seem to appear out of the blue, and it is necessary to deal with these bills as quickly as possible. A person will usually need extra money within 24 hours, but someone will rarely provide the requested amount so quickly. MyPaydayLoan, a US lender, can offer an option if you meet its requirements and have a fixed monthly paycheck.

Although the company charges high rates, they have a lot of experience in this field. This lender was founded in 1999, which is remarkable considering many American firms are still new.

This review includes all information about the lender’s services, rates, requirements, and more. This review will help you determine if this lender is right for you.

MyPaydayLoan – Extra Cash

Many situations require quick cash solutions and fast action. Short-term payday loans are an option if you don’t know what else to do.

This feature cannot become a regular part of your family budget. MyPaydayLoan offers loans that are returnable within a very short time.

The lender does not require additional documentation or faxing, and it is easy to get extra money here.

Nearly all applicants are eligible, but you will need to meet certain requirements, such as being over 18 and earning at least $ 1,000 per month. You must also work for a minimum of 90 days in your current job.

People who send in their requests before 5 pm are most likely to get a confirmation and money within the hour.

The client will receive updates about the status of their loan via email. This is why it is essential to ensure that your contact information is correct.

  • Email
  • Phone number
  • Address

When filling out an application, they ask for specific information. Most lenders use this data. This is why it’s not new. Be prepared to provide your name, address, bank account, telephone number, driver’s license, ID, employer contact details, and email.

The lender will deposit money into the account that you provide. The amount the client will have to repay when he applies for a loan from this lender must be known.

You don’t just have to repay the borrowed amount, but you must also add their rates. MyPaydayLoan is available at 600% but may go up to 1400%.

The rates are quite high, so it won’t surprise you if you don’t do any calculations before applying for extra cash. MyPaydayLoan typically gives you 14 days to repay your loan amount.

After they approve your application, you will need to wait for payment conditions. You will be asked to establish a suitable schedule and the amount you will return to them by set dates.

If you don’t provide this information, MyPaydayLoan may take the money out of your account within two weeks from when they first deposited funds into your account.

If you don’t provide this information, MyPaydayLoan will take the money from your account within two weeks. If you choose to repay the whole amount on a specific day, the charge will be taken off. MyPaydayLoan allows you to repay the money in small amounts on your paydays.

This is convenient for clients who are unable to pay the full amount in one day. You may be able to ask for an extension of your repayment schedule and pay a small fee.

It can’t be a permanent loan, and you shouldn’t have to pay back the same amount for multiple paydays. Lenders recommend that you give the money as quickly as possible and don’t pay any fees.

There are three options available to you if you wish to return the money to the lender.

You must choose the first option and be ready to pay the full amount within the specified time. This money amount is the amount you received plus any fees.

You can choose the second option to repay the cash. This will allow you to pay a small amount, which is most likely a fee, and extend your loan until your next paycheck arrives.

A third method to return cash is to pay a higher amount than the minimum and extend your loan until your next payday.

MyPaydayLoan Customer Support and Contact Data

The customer service is not as good as it should be for a lending company. A user can access MyPaydayLoan FAQ, Private Policy, and other information.

However, this is not sufficient for someone who has a financial query. They can be reached via email. The company does not provide its email address, so that’s a very limited contact option.

Is it safe to work with MyPaydayLoan?

MyPaydayLoan has no complicated processes, and its products are easy to use. The website is very user-friendly. It’s also nice to know that the company cares about customer privacy and protects it.

They have different security measures in place to prevent data theft or hacking. A simple online form is available on the company’s website.

The form is easy to fill out and can be sent to potential clients. They usually respond quickly, and money is typically deposited within one working day.


This company has a lot of experience in the field, and it is hard to believe that many US lenders have the same expertise and practice. MyPaydayLoan offers many benefits but also disadvantages.

There are other lenders with lower rates and similar offers that may be available. Poor customer service and contact information for the company could be a problem for new clients.

This company is an excellent candidate if you want to make sure the money is available within 24 hours.

Borrower requirements

  • Age 18 years or older
  • Regular income
  • US citizen or permanent resident
  • A valid bank account

Methods of obtaining

  • Bank account
  • Credit or debit card


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Author D Laidler

I am David, economist, originally from Britain, and studied in Germany and Canada. I am now living in the United States. I have a house in Ontario, but I actually never go.  I wrote some books about sovereign debt, and mortgage loans. I am currently retired and dedicate most of my time to fishing. There were many topics in personal finances that have currently changed and other that I have never published before. So now in Business Finance, I found the opportunity to do so. Please let me know in the comments section which are your thoughts. Thank you and have a happy reading.

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A personal loan is a medium term loan with a fixed interest rate that is repaid in equal monthly payments and it's usually limited to 24 months. Loan offers and eligibility depend on your individual credit profile. Our lenders can help you obtain as much as $3,000 depending on the lender, your state and your financial situation.

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APR (Annual Percentage Rate) is the loan rate calculated for the annual term. Since is not a lender and has no information regarding the terms and other details of personal loan products offered by lenders individually, cannot provide the exact APR charged for any loan product offered by the lenders. The APRs greatly vary from lender to lender, state to state and depend on numerous factors, including but not limited to the credit standing of an applicant. Additional charges associated with the loan offer, including but not limited to origination fees, late payment, non-payment charges and penalties, as well as non-financial actions, such as late payment reporting and debt collection actions, may be applied by the lenders. These financial and non-financial actions have nothing to do with, and has no information regaining whatsoever actions may be taken by the lenders. All the financial and non-financial charges and actions are to be disclosed in any particular loan agreement in a clear and transparent manner. The APR is calculated as the annual charge and is not a financial charge for a personal loan product. 

Late Payment Implications

It is highly recommended to contact the lender if late payment is expected or considered possible. In this case, late payment fees and charges may be implied. Federal and state regulations are determined for the cases of late payment and may vary from case to case. All the details concerning the procedures and costs associated with late payment are disclosed in loan agreement and should be reviewed prior to signing any related document. 

Non-payment Implications

Financial and non-financial penalties may be implied in cases of non-payment or missed payment. Fees and other financial charges for late payment are to be disclosed in loan agreement. Additional actions related to non-payment, such as renewals, may be implied upon given consent. The terms of renewal are to be disclosed in each loan agreement individually. Additional charges and fees associated with renewal may be applied. 

Debt collection practices and other related procedures may be performed. All the actions related to these practices are adjusted to Fair Debt Collection Practices Act regulations and other applicable federal and state laws in order to protect consumers from unfair lending and negative borrowing experience. The majority of lenders do not refer to outside collection agencies and attempt to collect the debt via in-house means. 

Non-payment and late payment may have negative impact on the borrowers’ credit standing and downgrade their credit scores, as the lenders may report delinquency to credit bureaus, including but not limited to Equifax, Transunion, and Experian. In this case the results of non-payment and late payment may be recorded and remain in credit reports for the determined amount of time.