subject: Quick Loans: Picking The Best Lender [print this page] Money transactions can be a big gamble. Most people don't want to gamble too much with their own money. Dealing with personal cash loans is no different. You should always be careful about where you put your money.
Finding a lawful business to borrow from is the first step. If you go to a payday loan business, it's pretty easy to judge. Borrowing money online can be a bit trickier. 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. A good sign is if the lender posts or sends you its lending policies. All company's have a borrowing fee and a fee for late payment. Your lender should be willing to tell you these upfront. You should pass up any lenders who aren't completely open with you.
A good lending history is also an important factor. You want a business that lends money sensibly. A hassle-free process shouldn't be a substitute for low or no standards. Also, be wary of companies that have offers that seem to flashy. A little Internet research can be a big help when choosing a legitimate lender. There are a handful of different sources you can use to find helpful information about payday loans.
It's a no-brainer that being late on a repayment is a bad idea. High late fees can quickly mount up and put you deeper in debt. Should you find yourself with late payments, you need to know your legal rights. A lender has no legal right to harass or threaten you. It's dangerous to give personal information like a social security number or credit card numbers on the phone. If you ask, legitimate lenders should be willing to send you information in writing. To fight against harassment, report any suspicious or unlawful practices to an agency like the Federal Trade Commission.
Loans are very manageable if you don't let them get out of hand. Don't be afraid to ask questions or do a little research. It's your money, and you can protect it best.
by: Marlon Jackson
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