How to Get a payday loan from a legitimate online lender at a discount

Member

By klnygaard
User-Submitted Article

Article Rating: (10 Ratings)

Get a payday loan from a legitimate online lender at a discount

Need Cash? Most people have struggled to make ends meet at one time or another. In today's economy, it seems that most everyone is struggling with money, bills, finding jobs, and overall finances. Many people are looking to take out loans to make ends meet. A payday loan is temporary solution to financial difficulties. While a payday loan is intended for ONLY a short term solution, it can be useful. There are many sites, of which many are not legitimate. There are many scams and fraud is rampant. There are also many sites that connect you to a lender, but aren't a lender themselves. This is risky, as you are giving personal identification such as social security, checking count information, etc, over the internet. If you are seeking a payday loan, it is safer to go through a lender directly. Going through a lender or lending bank will help you to avoid scams and keep your person identification or information secure.

Difficulty: Easy

Instructions

Things You'll Need:

internet
income source
checking account
2 references

Step 1

First, identify if a payday loan is right for you. Regardless of any discounts on fees, payday loans can be expensive. The interest rate can vary from each loan company or lending bank. If possible, do not borrow at all. Next, would be to borrow from family or friends. Family and friends will be more willing to negotiate interest rate and a payment plan. If you able, borrow from a financial institution, as the interest rates will be more reasonable. The last option should be a payday loan.
Step 2

You can obtain a legitimate payday loan from an actual loan center or online. If you choose a physical site do resesearch first. Many are chains, which may offer a better sense of security to the lender. Online lending requires the loan to be deposited directly into checking account as the only option. At a physical location, you actually will receive a check or cash on the spot versus having an automatic deposit into your checking account. Such places are PLS, Check n Go, Check into Money, Cash Store, etc.
Step 3

If you go online, read the fine print. Many sites are only referral sites and not actual lenders. This is very important, as they ask you for all your personal information such as social security number, checking account and routing number and are not even able to offer you any financial assistance themselves. Check the fine print. There will be a disclaimer either at the bottom of the page or under the facts tab. It will state that they are not a lending institution. In addition, sometimes when you use a site that is not a lending company, you can be referred to another site that is not an agency. In your internet search, type words such as online lenders or online payday lenders. The companies that make referrals often get the first spots on the search engine page such as Google or Bing. Look at the lenders page and read the fact page BEFORE you fill out any forms.
Step 4

If you choose to take a payday loan, you must be aware of all the implications of the contract. A payday lender does not complete a credit check for the loan, however uses Telecheck as a reference check. The loan application and contract will state all fees and interest rates that apply. With the federal Truth in Lending Act, it is mandated that lenders disclose the terms and rates of payday loans in the consumer loan agreement. The interest rate or APR must be disclosed in this agreement in bold print. All of the information that a borrower needs to know is contained in this agreement, but most borrowers actually do not read the document. As a result, many borrowers are caught by surprise by the actual interest rates and terms. To avoid this, read your loan agreement thoroughly and ask questions. make sure you understand the outline of your repayment plan. Make sure your payments are on time. If you can, pay off payday loan early to save on interest or your APR. You can also pay a little more than installment payment to help pay off loan quicker. Make sure you understand all the information before you sign, whether physically, electronically or verbally. Legit payday lenders will call and speak to you for verification. Also, do not take ANY loan where you have to pay first or place a deposit. (This is a sign that you are about to be scammed).
Step 5

There are many legitimate online lenders. One such site is
http://www.mycashnow.com. They are an actual lending intuition and will have your money in your checking account in 24 hours. On the application, it will ask you if you were referred by a friend or family member. Click yes. Then use referral code CTPKNC. They are currently offering 50% reduction in fees, down to $9.31 per hundred dollars lent. This is a great discount and they are a verifiable lending company.
Step 6

If you want a legitimate online payday loan, that is discounted, go to http://www.mycashnow.com. In order to receive a discount, click yes to a friend referral and use code CTPKNC. Your money will be deposited into your account or can even be sent via money gram if you are are a returning customer. Using this code may also allow for other discounts. As a note, if you choose a lending center, many have specials not posted, so make sure to ask. Also, check your phone book, as some companies will list a coupon you can use towards your loan.