Payday Loan Tree Review

This Payday Loan Tree review will focus on one of the more popular payday loans online companies. Many around the nation are finding this service because it ranks highly for a search on payday loans. If they really were a business that truly helps then they wouldn’t be in the business of charging so much to borrow money. Almost every payday loan or short-term loan company pleads their case of being a needed and necessary service, when in actuality they are a disservice to the community at large, and only serve to widen the gap between the haves and have nots.

This Payday Loan Tree review urges you to resist the urge to sign up now. They do not provide a needed rescue, but only manage to push you deeper into debt with their same day cash and quick money. A loan on a check you can’t cover for payment in advance is never a good option.

That being said, let’s take delve deeper into this Payday Loan Tree review and see what they have to offer.

Payday Loan Tree Review & Ratings

Payday Loan Tree review

Website Evaluation
The first thing that should make you run away is their slogan. We all know money doesn’t grow on trees and for them to claim it might begins the misinformation. There are so many pictures of bundles of cash that it trivializes that you’re in a financial jam. You’re not looking to hit the jackpot at a casino here, just trying to makes ends meet with a payday loan service. They contain the same typical rhetoric of all payday lenders, including the comparison to overdrawing your bank account and showing a scenario that could make taking out a payday loan a viable option. Payday Loan Tree review on website: Standard

Approval Process
This Payday Loan Tree review has determined that they don’t actually lend any money themselves, but rather serve as a clearing house and affiliate for a group of lenders. No checking account needed because they are able to get you approved by using an Account Now prepaid account. They will likely want you to submit proof income and show that you’ve been able to provide for yourself for some time by stating how long you’ve had your checking account for. It is unclear if you are able to get unsecured loans for unemployed, it says you just need a steady stream of income so if you’re collecting unemployment you might be OK, you’d have to check with them though. Payday Loan Tree review on approval process: Easy – Moderate

Repayment Options
Wondering what you can do when your loan repayment is due? Not much, apparently You can either make a payment voluntarily, do nothing and they’ll take the money out of your bank account that you provide them with during the application process, take the loan out again to give yourself enough money to live off of until next payday, or make partial payments. They specifically state that each of these options vary depending on which lender you go with. Since they don’t lend you the money directly, Payday Loan Tree is not able to say what your options are, just that they’ll be very limited. Many other online lenders offer alternative loan repayment options that seem much more consumer-friendly than any of the options given here. Payday Loan Tree review on repayment options: Poor

Other Services
Payday Loan Tree only offers payday loans from various sources, and unlike a brick-and-mortar lender they don’t have any other services available that you’ve come to expect from cash advance companies like check cashing, putting your tax refund on prepaid visa, business check cashing, or prepaid cards you can load in-store. Perhaps one day they will offer these types of services as well.

Final Payday Loan Tree Review: Avoid

You can find a branch locally in any city in America without having to do business with Payday Loan Tree. They offer little in the way of reasons to do business with them and not a local payday lender. A branch manager will be able to talk to you in person and you can get a feel for the types of people you are doing business with. Anonymity works both ways, and you don’t want to be doing business with a pack of wolves all waiting for your application.

Financial Tips
There is one way to keep yourself out of places like this and that’s to get yourself some financial education so you can get control of your finances. Many times bad financial decision-making is something we learn from our parents, but with the right lessons you can learn to undo some of the damage. Choosing a credit counselor doesn’t have to be embarrassing, and asking for help is not a sign of weakness but strength.

Basic tips on saving money would be to make more money and decrease spending. It can be hard at first, but try to make a game out of it. Save money and decrease your monthly expenses. It can be easy to get signed up for many things that are billed monthly, and you probably are just being nickel and dimed. Be diligent and use your check register to balance things every day if you need to until it becomes a habit and you don’t have to think about it any more. Using the check register may seem old fashioned but it’s more effective than using online banking because it sticks in your brain better.

Get your free annual credit report every year and check it for inaccuracies. Report any wrong information to the specific agency that has it listed and get it cleared up. If you take small steps on your credit report it can make a big difference long-term.

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