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Choice
What you should
definitely not do when you need a cash
advance loan is sign a loan deal with the
very first lender near you that you come
across. The best way to find a direct lender
that will offer you a cash advance loan is
to use a loan matching service, because it
will submit your details to many loan
companies for you, all at once, so that you
can then decide on which is the best lender
for you.
Convenience
Applying for a cash
advance loan from direct lenders through a
loan matching service is also very
convenient. The whole process is done online
in the comfort and privacy of your own home.
You simply complete an online application
form and the system will then attempt to
match your details with prospective lenders.
It’s a lot more convenient and a lot less
embarrassing than having to wait in line in
a loan store.
No Hard sell
Direct lenders don’t
usually adopt the hard sell tactics that
payday lenders are renowned for. If you have
ever made an inquiry with a payday
lender near you, you will know
how good they are twisting your arm to make
you sign up for a loan, there and then. With
an online direct lender loan application, a
loan offer will be made to you and you will
be given plenty of opportunity to review the
terms and conditions before you agree to the
loan. It is also made quite clear that you
are under no obligation to accept any of the
loans that you may be offered.
Cost
If the roof of your home
is leaking, or your car won’t start, it can
be very easy to forget about how much a loan
will cost you, because you need the money
fast. You shouldn't overlook the fact,
however, that the fees and interest rates of
some of the major payday lenders can be
extremely high. Many payday lenders will
charge a basic finance charge of between $10
and $30 for every $100 borrowed and they
will also charge interest rates that would
equate to an APR in excess of 400%.
So, when you are faced
with a need to obtain an advance on your
next pay check, don’t overlook the
possibility of using a direct lender. Just
like payday lenders, many direct lenders
will process an application quickly and have
the funds available in your bank account
within twenty four hours. They will also
consider people with less than perfect
credit histories. They will, however, also
be a lot cheaper than a payday lender would
be and they are much more straightforward
people to deal with.
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