subject: How Do You Know What's Legit: Paycheck Advances [print this page] How Do You Know What's Legit: Paycheck Advances
Money transactions can be a big gamble. If it's your money, the concern is even bigger. The world of cash advances is no different. Like all money decisions, it's important to make them wisely. One vital rule is to work only with a reputable lender. Going into a cash advance store is a good way to judge its character. Online lenders are sometimes harder to analyze. The recent economical hard times have allowed payday loan sites to flourish. If you're going to get an online cash advance, be confident in the business you choose. It's a good idea if there's an open policy that allows you to see the company's regulations in writing. Before you borrow money, make sure you know how much you are expected to repay. Only work with the lenders who value openness and honesty. Another good trait to look for is a strong lending history. It's very important that a company lends responsibly. Even though the payday loan process is simple, you want to have smart standards. A good lender will not make promises that seem too good to be true. A little Internet research can be a big help when choosing a legitimate lender. Consumer groups and lawyers are only a couple of the groups who have articles that analyze these kinds of lenders. From the beginning one of your goals should be to avoid repaying a loan late. The late fees for these types of loans are notoriously steep. Still you should be aware of what the lender is entitled to do and how you should respond. A company can not and should not call to harass you in any way. It's dangerous to give personal information like a social security number or credit card numbers on the phone. Don't hesitate to ask for loan information to be mailed to you if you have doubts or questions. One of the best ways to fight harassment is to report the person or company to an agency like the Better Business Bureau. A loan doesn't have to be a burden if you handle it carefully. Don't be afraid to ask questions or do a little research. It's your money, and you can protect it best.
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