Direct Lender Payday Loans Guide

Direct Lender Payday Loans ReviewDirect lender payday loans are loans that are given out directly from the company you are doing business with. They represent one of two main types of companies you’ll find during your search for a payday loan. The other is a matching service that will contain a database of lenders and put you in touch with them.

It’s up to you which way you want to go, either with direct lender payday loans or using a matching service. Many people have used both at one point or another, and it usually depends on which way you go. If you drive around and see a local lender you’ll typically be dealing directly with them, although some of them might be underwritten by a larger financial institution.

If you go searching online you’ll typically find a matching service at the top of the results. This is because their business is mostly online based, so they’ve figured out how to rank highly for popular keywords that are searched for by borrowers. Direct lenders typically have websites that are quite as flashy, and they lack the online savvy to have their sites rank well. They get most of their business due to name recognition, or by being found while you’re out and about town.

Our Direct Lender Payday Loans Guide

When taking out a loan there are only a few choice you need to make. One of them is how you will find the loan to begin with. It can be tedious going from one lender’s site to another again and again trying to find a loan that suits you. A lot of the times the terms and conditions will be the same, so it’s a matter of finding a lender that will give you a loan based on your financial information.

Benefits of Going Direct
You typically get a faster response time from a direct lender because they are don’t need to get authorization from any third party and can make a loan determination based on the information you provide. They might need to follow up with you by phone, or they may verify your employment information directly with your employer before agreeing to the loan. At this point they should start the process of sending the money to your account if done online, or handing you the cash if done in person.

Another benefit is that you help prevent the spread of your personal contact information and banking details because you are only dealing with one lender that should keep this information confidential and in-house. When you use a matching service they will be giving your information out to several lenders and some of them even state in the fine print that they’ll be sending offers to you from their partners which basically means they’ll be spamming you.

Drawbacks of Going Direct
One of the potential drawbacks of getting direct lender payday loans is that they each operate independently of one another. So if you get denied by one, or you don’t like the service at one, you will have to fill out a new loan application and start the process all over again at the new lender. While this can range from being a mild inconvenience to a seeming wild goose chase, it is one thing that they can’t fix.

When you go direct you also limit yourself to the loan limits, rates and terms that are in place at that particular lender. Some matching services will make sure that you get the most money at the best rate for the longest term.

Our Recommendation
You can usually get good service buy going with a local lender in your area. If you are in a rural location and are finding your loan online it’s also a good idea to go directly through a lender rather than using a matching service. A matching service works well if you are having trouble getting approved because they will have a large database full of lenders that loan to all types of borrowers. Their algorithm will make sure that they don’t send your application to lenders that will deny you so it’s easier than getting denied and having to give all of your info to another company.

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