Participating lenders may verify your social security number, driver license number, national ID, or any other state or federal identifications and review your information against national databases to include but not limited to Equifax, Transunion, and Experian to determine credit worthiness, credit standing andor credit capacity.
Within 90 seconds, you will be provided with several options from lenders, allowing you to select the loan that works for you. The money can then be wired directly to your bank account within a day or two.
Security: This company provides a secure site for your sensitive personal and financial information. The site does not sell any of your information to third parties. Cost: To compare costs, visit TopTenREVIEWS Payday Loans Comparisons and Reviews here. NetLoan USA garners positive reviews for its reliability, transparency in lending, and excellent customer service. This service excels at minimizing the amount of time it takes for a loan to become available to the borrower and at maximizing the amount of money a first-time customer can borrow.
Since the financial crisis, banks have tightened their lending requirements, said Peter Barden, a spokesman for the Online Lenders Alliance, a lobbying group. For consumers in need of a couple thousand dollars to make ends meet, they have nowhere else to go.
Payday loans, which are generally for small amounts of money (usually between 100 and 1,000), are designed to help people make it to their next paycheck.
Most of the time, you dont need good credit to be approved for a loan: Lenders generally ask only for your Social Security number, employment information and a post-dated check, which theyll cash on your next payday.
The loans come with high fees -- being charged 125 for a 500 loan is typical. Calculated annually, that works out to be a 652 annual percentage rate (APR). Typically, you repay your loan on the following payday, with brick-and-mortar lenders usually cashing your post-dated check.