You may be worrying whether a payday loan lender will contact your employer when you request a loan. There’s no need to be concerned; lenders will not contact your employer as part of the underwriting process. A payday lender will only call your workplace to contact you and never to speak to your employer. Talking to your boss is not part of the loan enquiry process, and there are only a few alternative reasons why a lender may contact your work. 


There are three reasons why a lender might contact your place of work:

  1. To prove you are employed – You must have a steady income of at least $800 a month to be eligible for a payday loan. Therefore, a lender may need to get in touch with you while working to verify your employment. If your lender calls your workplace and can get through to you, this allows them to confirm that you work there. They do not need to talk to your employer, only to be put through to you.
  1. To confirm the information you have provided – Once you have submitted your details to a lender, they will contact you to verify your information. This includes how much you are looking to borrow and how long you need to borrow it. Typically, this takes place over the phone on your personal number or via email. However, if they have trouble getting through to you, they may try to reach you at your work number.
  1. If you have failed to repay your loan – If you have not met the scheduled repayments on your payday loan, your lender will need to contact you. If they have not managed to get in touch via email or your personal number, they may try calling your workplace. A lender will only ever call your work to talk to you, not your boss.


How Does A Payday Lender Decide If I Am Eligible For A Payday Loan?

A payday loan lender won’t contact your boss but will need to make sure that you meet the requirements necessary to be eligible for a loan. A lender will need to verify that you are a US citizen with a permanent US address. You will have to provide your date of birth to confirm that you are over 18. In order to request a loan, you will also need a checking account and a steady income of at least $800 per month. Your lender will require you to provide your employment details to confirm that you are receiving a regular wage. Lastly, you need is to be over the age of 18, so you’ll need to provide your date of birth.


How Do Payday Loans Work?

With Pheabs, you can get a payday loan from $100 up to $35,000. You can repay the money 2-4 weeks later in one final repayment or borrow for up to five years and pay it back in equal monthly instalments. You are able repay the amount early at any time and this will also save you money on interest. Pheabs makes payday loan requests quick and simple. The 100% online process lets you submit an enquiry at your convenience from anywhere in the US. Submit a form today, and you could be accepted in just one hour!


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