In normal traditional banking loans, you have to submit documents and they will use the documents while you do not need to repay it on time. But in payday loans, you do not have to submit any documents. You have to submit only your valid bank account. Other formalities are completed through online or over phone. The repayment is very easy in payday loans. In the repayment date, the money will be retrieved from your account. If you want to extend your repayment date, you have to contact your payday lender and inform your problems. The contact is also made through email or phone. There are many payday lenders available on the market. They have some attractive features like consumers. Payday loans are short term loans and approved without any collateral. These loans are offered against your salary. It does not require guarantor. The process for getting loan amount is very quick and simple. There is no complex procedure and lengthy paper work in it. The entire process is through online. You need not to visit the lender personally. There are many types of payday loans available depending on your situation and requirements. The faxless loans are an instant loan. It is very popular and it has very speed payment. In the payday loans, there are heavy penalties for late payments. The pay day loans are the best source of getting instant cash and it is easy to get. These loans are easily obtained over phone during the financial emergency. It is especially designed to get cash for temporary needs.