- You can get them online or over the phone.
- They are far less expensive unlike other payday loans.
- Your loan application request is processed instantly.
- No credit check is required.
- No need to fax a recent bank statement or proof of employment.
- No need to provide any references from your current employer.
- Direct payday loan lenders offer fast and convenient application procedure.
- Hassle free repayment terms.
The three main things that you should have to get approved for a direct pay day loan are a valid bank account, your contact details, and you should be above 18 yrs of age to get a loan.
Do not go with the first lender you spoke with. Make it a rule to compare rates with multiple lenders before signing up for any deal. Payday loan companies may try to increase their profits through delayed loan installment payments. So, never fall prey to offers sounding too good to be true. You should arrange an automatic debit payment option on the due date you can be assured that you do not incur any unnecessary liabilities.
There are so many fraudulent lenders flooding the payday loan market today, so it is always a good idea to conduct a background check of the entire application process. Always check if it is a secure URL address starting with https. Make sure that your personal information is absolutely safe.
Among the most obvious disadvantages of payday loans are the limited amounts you can get from a direct payday loan lender. All you can borrow is up to $1500 dollars. It depends mostly on the state of your residence. The loan repayment period is also very short between 2 and 4 weeks.
Direct payday loan lenders provide simple yet efficient solution for your temporary financial crisis. With a little research you can find the right payday loan to meet all your cash emergencies.