Internet Payday Loan Reviews

Internet Payday Loan ReviewsIf you’re trying to get an Internet payday loan, you had better get as many reviews as you can, or you may be sorry. A lot of shady companies use the Internet to provide loans, even in places they’re not licensed to. When you do business with these sort of companies, there’s not a whole lot in the way of laws that govern what they can and can’t do. That’s why it’s so important to get feedback from others that have gone through it and can report from the other side.

Can You Trust Internet Payday Loan Reviews?

If an unscrupulous company wanted to put up fake positive reviews about themselves, it wouldn’t be too hard to pay someone to go onto review sites and post comments. That’s why you should take glowing reviews with a grain of salt. Most likely someone that had an exceptional experience with a lender will not come back and report this to a bunch of strangers. However, a disgruntled person is far more likely to give a warning.

So while it is possible to find quality, unbiased reviews, you should always trust your gut and go with your instincts when it comes to sizing up a potential Internet payday loan provider.

If you’re dealing with a lender 100% online you’ll want to make sure that you have a digital paper trail, in case there is any dispute about the agreement. Most likely you won’t ever end up in court with these lenders, because they’re located off shore and wouldn’t bother showing up for any court date. That’s why you want to make it as legit as possible. Make sure you have an agreement with them, in PDF format, so that you can print it up and have some documentation of who you’re doing business with.

Get It In Writing
You’ll want to make sure that the agreement stipulates what the company name is, how much the loan is for, what the APR is for it, and when you’re expected to pay it back. You don’t have to bother printing it unless they give you any trouble, but by making sure it’s a printable document you’ll rest easier knowing you have something in writing.

A lot of consumers are looking for faxless payday loans and don’t want to provide a lot of documentation, but it’s actually in your best interest to deal with companies that verify important data like your employment and your bank account. Why do business with someone that will lend money to just anyone? Don’t you want a lender that actually appears like they care about getting their money back. It’s a little suspicious when a lender doesn’t care to verify that your information checks out.

Call First
Giving them a call is also a good idea, so you can get an idea of what sort of operation this is. If they can’t keep a phone number working during regular business hours, you might want to go with a different Internet payday loan company. You don’t actually have to complete the loan over the phone, just calling with a simple question will give you enough of an idea of whether or not the company can be trusted.

Brick and Mortar is Best
One of our general pieces of advice here is to do business in person in your local community. This let’s you put a face to the business that you’re dealing with, and lets you establish a relationship with them. It’s also a good way of making sure that they are adhering to the best practices for payday loans, because in many states they have to follow the rules that are in place, which includes caps on how much they can lend to you, how many payday loans you can have out, and collection practices, what they can and can’t do to collect.

If for whatever reason you don’t want to do business in person, just make sure you do your due diligence and don’t just jump at the first company to offer you money. Read a lot of reviews, ask a friend how they got out of their last financial jam, and look for recommendations you can trust. That’s the best way to weed out lousy Internet payday loan lenders.

Add Your Own Internet Payday Loan Reviews Below

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