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Using Your Check Stub For A Loan
If you have a check stub, it can be very useful for qualifying for an online loan.
Applying For Your Loan
For starters, an online loan quote from, like the one at the top of this page, will ask for information that is contained on the check stub. This is available for you to easily see, which makes filling out the form easier. The lender themselves may not need to receive a copy of your stub.
Some lenders may require a pay stub or check stub however, as proof of income. In these cases, they generally require a few pay stubs which will demonstrate a record of earning an income.
Finding Your Check Stub
These days more and more people are getting paid with an automatic checking deposit. This is very convenient, but it can make finding a check stub much more difficult.
If you are having trouble finding a pay stub, you should check in several places. First, is your email box because many lenders will email you a copy. Next, is an online HR portal. These are fairly common and include sites like Workday. Finally, you might check your mail as some employers still like to mail a paper copy. If all else fails, a phone call to your HR department could do the trick.
Getting Your Quote
Now that you know the importance of your check stub for getting a loan, let’s have a look at how to get your no obligation offer.
Fill In Your Form
First, you will need to fill out the quote form at the top of the page. Select how much you want to borrow and then enter some personal information, some of it fro your check stub. Once you are done, submit your quote request to get an answer.
Get An Offer
If approved for a loan, one lender from the group will make you an offer. To view the loan offer details, you will be sent to the lender website. It is here that you should take the time to thoroughly review your offer, so that you can make a smart decision.
Make A Wise Decision
Finally, you can make a decision as to whether you want the loan. If you like it, accept it online and you can have money in your checking account as soon as the next business day. If you do not like it, just walk away. There is never an obligation from simply receiving a quote.
Paying Back Your Check Stub Loan
If you qualified for and accepted a loan, congratulations. Now, you can handle your money emergency. Once this is done, however, you need to give some thought to paying back this loan. Here is a little advice.
Understand The Terms
Ideally, you would have done this before you accepted your loan, but it is never too late. Make sure that you know when the loan payment or payments are due and how they will be processed. If they are automatically drawn, make sure that you have money in your checking account on the day of the withdrawal.
Make A Budget
Next, you need to make a budget or add your loan payment to your existing budget. This will ensure that you have enough money to make your payment when the time comes. It also gives you the tool that you need to make changes if you find yourself low on funds.
Set Reminders
Whether your loan is set up for automatic payments or not, you should set reminders. Automatic payments are great, but if there is not enough money in the account, you may still find yourself with a late payment. That could mean late fees and adverse effects on your credit score.
Make Debt A Priority
You need to make paying down your check stub or payday loan a priority. The sooner that you get out of dent, the sooner you can start working on a real emergency fund. A fund that can help keep you from needing money in an emergency.
Making your debt a priority will also help you keep from renewing or rolling over your debt. This is a common trap that people get into. They take out a small loan, cant afford to pay it off and then simply pay the interest/fees and rollover the principal. It can be an endless cycle.
