People facing day today immediate cash needs are running after short term cash solutions to get rid of their financial stress. Most favorable solution in today’s world is online payday loans
. These loans provide instant cash to users to meet their immediate expenses. Application process is very simple as it takes only 5 minutes to fill out an application form online without even going out of your room. This money can be used to pay off utility bills, hospital bills and auto repairs etc. No one payday lending agency will ask you reason behind your money need.
The cash amount lend through payday loans is up to $1500 on APR of approximately 400 percent. Loan amount along with interest rate is supposed to be returned before next salary day. Some extra loan costs are also included in total loan lending expenses. People generally consult a loan broker agency instead of directly applying for any loan which further incurs some charges.
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DIRECT LENDER VS. BROKERS
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It is wise to do lot of online research before borrowing any loan. Direct payday lending is better option than dealing through a broker. In direct payday lending, money is directly transferred to borrower’s account without taking any help from third party lender. Broker always offers loan services to borrower whose total cost include hidden commission of broker whereas there are no such hidden fees in direct lending. Additionally broker passes on your information to many lenders and will lend you money on their behalf whereas direct payday lenders will not pass on any of information without borrower’s permission. Brokers act as a middle man between you and lender. Consumers who are new to avail this service generally got struck in broker’s trap whereas who have full knowledge about this financial service never let themselves get economically hurt by payday brokers. They know that several direct lenders are available online.
What if a borrower does not have internet accessibility?
If a person does not have any internet accessibility he can directly apply for payday loan by walking to payday loan store. Payday loan stores are available in almost every street of country. Person can fill out application form right there and money will be handed over immediately if applicant meets eligibility criteria.
BENEFITS OF DIRECT PAYDAY LENDING
• Fast and secure application processing.
• No extra time included because of third party involving.
• There will be no extra fees of brokers.
• Every step of deal will be on direct basis and there will be no hidden processing.
• Generous repayment terms are included in direct payday lending.
• Offer feeling of secure loan with encrypted application process.
• Cash will be directly deposited to your account by lender within 24 hours.
WHY DIRECT LENDING
Payday loan direct lending is a good option because of following two main reasons :-
• Licensed Lenders: –Another important point is that by dealing with direct payday lender you get a licensed and legally authorized lender which may be not possible in case of brokers. You can check from their certificates as they are following all state laws and in the end you can end up with legislative lender in USA.