Over the Phone Payday Loans Guide

Over the Phone Payday LoansThere are only a few reasons why you’d want to choose over the phone payday loans over an online loan or going in person to your local branch. In some cases it might prove to be a faster way to get your money, and it might give you the peace of mind of talking to an actual person rather than filling in your information online.

For whatever reason, some people think that conducting business over the phone is more secure than giving your information over the Internet. And this can be true, if you’re dealing with an disreputable company that doesn’t have their website encrypted, or that will farm out your information to other companies. But the same threat exists for doing business over the phone. The fact is you don’t really know who is receiving your information on the other end of the line, and what they’re going to do with it once they’ve got it.

The good news is that good companies provide both a secure website to enter your information online, and also have a toll free number to call in order to speak with a real person that will treat your information in a confidential manner, and also be able to answer any questions you may have about the loan process.

Over the Phone Payday Loans Guide

If a payday loan company is worth their salt, they’ll have a dedicated customer service line that will be able to help you with anything you need, even if that means walking you through the process of filling out an online application. If you call a lender and get a recording during their normal business hours, you can safely cross them off your list as a potential company to do business with. Likewise, if you call and it’s obvious that they’re outsourcing the call overseas, you shouldn’t go through with it. This generally means that you’re not dealing with a lender, but rather a lead collection company.

A good direct lender will not outsource this crucial step of the process, and will want to make sure that nothing is lost in translation. You should end up with a person that seems knowledgeable, friendly, and is not pressuring you to go through with the loan.

Dealing Direct is Best for Phone
What we’ve found in our research though is that many online websites will try to appear to be a real payday lender, but they are only interested in getting you to fill out the application, or call a phone number. What happens if you call the number is that you’re forwarded to a general payday loan processing center that will try to get you to apply over the phone. This is not a true payday lender, and they are hoping to collect your information so that they can match it up with a payday lender that will conduct the rest of the transaction.

If you’re going to do over the phone payday loans, we suggest dealing directly with the loan company, and not using a third party. The fewer people that have your personal and financial information, the better, and if you’re on the phone with a direct payday lender they’ll be the only ones that will use your information. Just be sure that you’ve done your due diligence, and that you’ve looked over their requirements before applying so you don’t waste time at lenders that won’t be able to help you.

Disadvantages of the Phone
There are a few disadvantages to using the phone. For one, it might not be as fast as applying online. It also might not be as secure as using an encrypted site. When compared to going into a payday loan office personally, you won’t be able to walk out with cash in hand, so it won’t be a good option for those that are trying to avoid the money going into an overdrawn checking account. You’ll also be required to give them authorization to debit your account on your payday, which many people find is not helpful when juggling many different payments.

Choose What’s Right For You
At the end of the day it’s about what feels right for you, and if over the phone payday loans sound like the best idea, follow the steps above and you should be all set.

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