When you decide to get a payday loan, it is worthwhile to check a payday loan direct lender. Opting for a direct lender usually has a positive impact on your credit rates and loan fulfillment.
Why select a payday loan direct lender?
You have to be cautious while selecting a payday loan lender because there are several payday loan aggregators out there, acting as lenders. However, they just collect your personal and financial information and pass it anyone willing to pay the asking price.
Given the recent reports of high profile data breaches affecting companies ranging from Sony to JP Morgan Chase to Target stores, many people are understandably nervous about the security of their financial data. But desperate borrowers seeking cash to cover financial emergencies often put aside any misgivings they have in the hopes of obtaining the money they need and share their confidential information to payday loan lender aggregators.
Unlike payday loan matching service providers or aggregators, direct payday lenders are the legitimate lending companies that provide instant access to cash advance online directly, without involving a third party or lending agent.
An authentic payday loan direct lender manages every aspect of the lending process, including approval, funding and repayment – making sure you get the payday loan you deserve.
Borrowing from anyone besides a direct lender can introduce an unwelcome element of uncertainty into your loan process. Since the company that handles your application chooses which lender to send you to, you won’t immediately know who you’re borrowing from — you could even wind up with a disreputable or unlicensed lender.
Benefits of Payday Loan Direct Lender:
- Trusted lending source
- Faxless loan processing
- Data security assured
- Instant approval
- Direct cash deposit in your account
- No middlemen or agents involved
- No brokerage fees
- No application charges
- Transparent terms and costs
- Direct communication
- No information sharing with third party
If you have decided to apply for payday loan online , make sure you opt for a payday loan direct lender.
What to look into a payday loan direct lender:
While searching for a payday loan direct lender, make sure the company is a member of the Community Financial Services Association of America, a payday lender trade group. The CFSA not only requires that members conform to certain best practices — full disclosure, extended payment options, appropriate collection practices and more — but it also only lists direct lenders on its membership roll.
A broker service may, in fact, have contact information or display a CFSA logo, and even say it’s selling loans from direct lenders. But instead of displaying rates and using its company name as the lender, a service will refer to “direct lenders” or “your lender.”
It will ask you to submit an application with banking numbers before you learn loan rates or term details.
Click here to learn about payday loan requirements.