Are you in need of the money at the earliest? If you do not like the hassle of going back and forth faxing documents and having many conversations with operators, then payday loans by phone is the best option. If you are getting a minimum of 1,000$ a month and have your pay cheque posted to your account every month, you automatically qualify for a payday loan by phone. A payday loan is nothing but a cash advance varying from a hundred to a thousand dollars and is usually used as an advance to your next pay cheque. A payday loan company does not charge interest. There are payday loan by phone or net. And for this you can apply over the internet or phone and the operator will ask you to fax in a pay stub, your latest bank statement and a void cheque. The loan will be approved in a matter of few moments and directly it will be deposited in your account.