If you are faced with the situation of needing some extra cash between paydays and you have poor credit, then a payday loan is the solution to your problem. In the past if you needed to obtain this type of loan, it required that you find a local lender and visit the company personally to get the loan processed. This could take a lot of time and energy and be quite a hassle if you are trying to do it on your lunch break or if you happen to have children with you. Well now you can do all of this on the Internet, without ever having to leave your home or office and its very safe and reliable. You can easily find an online lender with competitive rates and you may even be able to qualify for a free payday loan!
Choose Your Lender Carefully
If you don’t take a little time and do some research on payday loan companies, it may end up costing you instead of helping you. With so many lenders available today, how does one know which one to use? This is where the research comes into play. Upon doing this research you will find legitimate lending companies that use secure websites and offer contact information such as phone numbers and physical and mailing addresses. All of their terms are upfront and you can work with them and be confident you are using a good company.
You will also find fraudulent companies on the Internet when you are searching for a payday loan. These are few, but do exist. You may also find lenders that charge exorbitant rates and fees for their loans and services-which may be against the law in their state. Some states have regulations on payday loans and some states do not allow them at all. Be careful who you use, and make sure you are within your state laws as well as the state laws of the company you are using.
And last, but not least, you will find companies that do the negotiating for you-or brokerage companies. They obtain the application from you and then submit it to different lending companies for you. Using this type of service can be more costly because you will be working with two companies wanting to make a profit instead of just one. You will also not be sure which lender you will end up with-and whose to say you will get the best rate?
With all of this said, is applying for a payday loan online actually worth it? Yes! It is fast, simple, and the funds will be direct deposited into your account without you ever having to step foot outside of your home or office. It will be immediately available for you to use!
Wary about entering all of your personal information online? Many are these days with identity theft rampant, but there are a few precautionary steps you can take to make sure your information stays safe. One is to make sure your lender uses a secure site for entering your information. This can be determined by a security logo and seeing a closed padlock at the top or bottom corners of your screen. Another thing to do is not use a lender that charges more than is governed by state law. Most laws allow no more than $25 be charged for every $100 borrowed. If your lender wants to charge more than this, find another one! And the last thing you can do to insure your information is safe is to see if the company’s contact information is easy to find or is clearly visible on their homepage. You should be able to locate it in a matter of seconds after first landing on the page. If this information is not readily available, then you may be dealing with a company that is not legitimate.
These simple guides will help you make a wise decision when choosing an online lender. Now earlier it was mentioned you might qualify for a free payday loan-lets find out how to do that!
With the popularity of payday loans increasing and the abundance of companies offering this service, there are some very competitive rates out there. And this is great news for the borrower-for there are some companies willing to even give you your first payday loan with them for free! After applying for the loan and online and the lender approves you, the money will be deposited directly into your bank account. When you pay the loan back on time, your loan fees are waived! There are even a few companies that will let you extend your loan and still waive the fees once it is fully paid back! Now that’s a way to save money and take care of some bills-all by getting a free payday loan.
And if having bad credit is worrying you, well worry no longer. Most lenders do not use a credit report to approve you for a payday loan. Your employment and paycheck is your guarantee of approval. So even if you have late payments or charge-offs on your credit report, you can still be approved for a free payday loan.
The easiest way to search for a free payday loan is to use a search engine and type “First Payday Loan Free” and look through the results that are given. Another option is to type in “Free Payday Loan Reviews” and read the comments of other borrowers to see if it is a lender you would like to use.
Following these few simple rules and guidelines will help you make an informed as well as safe decision on an online lender. Free payday loans are a great convenience when you have to extra money fast. Being well informed about what you are dealing with is the best way to tackle anything you face!