PDQ Payday Loan Reviews

PDQ Payday Loan ReviewsPDQ Payday Loan is ont really a payday loan according to the way most payday loans are issued. They’re billing themselves as a personal installment loan, which means that you don’t have to pay the full amount on your payday.

The nice thing is that it is linked to your paycheck, with your installment payments due on your payday. This makes sense because it’s better to pay off these types of loans when the money is there, rather than trying to pay off other things and finding out you don’t have enough left over to pay the loan payment.

One of the biggest drawbacks to using a traditional payday loan is that the whole thing is due back on your next payday. This causes so many people to have to re-loan, which instantly doubles all of the already high fees. If it was set up so that you just had to pay back a portion of the loan on your next payday, the likelihood of getting trapped would decrease.

PDQ Payday Loan Reviews

PDQ Payday Loan is the type of lender that will eventually come to replace typical payday loans. This is because the industry is in great need of reform, and it’s silly to have you come back and pay all of that money back just a few weeks after you borrowed it. We believe more and more lenders will start offering installment loans in smaller amounts and with easy qualifications. It makes sense not to rake a customer over the coals and make it so hard for them to get back on their feet.

Credit Check or Not?
They don’t really do a good job of answering the question of whether there’s a credit check involved here or not. They say that it doesn’t matter if you’ve had trouble in the past paying your bills and other expenses, but they don’t flat out say that there’s no credit check. They say one of their people will consult with you, which means they probably do do a credit check, but perhaps it only effects their decision if it’s really bad, or if you don’t have a good explanation for it.

Secure Server
We like that PDQ Payday Loan has a secure server for their application page. This means your data is kept private and you don’t have to worry about it falling into the wrong hands. You’d be surprised how many sites out there expect you to give your personal and banking information on an unprotected webpage. It’s a very simple thing to fix for a website owner, so it’s good to see that they’ve paid attention to this detail.

Easier Repayments
Once you establish your account with them they allow you to come back with your email address and social security number and view your balance so that you can conduct your business online. This makes it much more convenient than using a real world brick and mortar lender where you have to wait in line, or an online lender where everything is done via email and there’s no way to view your balance or update your account information unless you talk to someone.

They also let you repay the loan off in full at any time, so you don’t have to worry about getting hit with a pre-payment penalty fee. That is huge because with many installment loans there will be conditions that say that if you pay the loan off too quickly you have to pay an additional fee so that the lender gets their money. But with this you can pay it off early and avoid extra fees.

Our Recommendation
PDQ Payday Loan gets the go ahead from us, as they’ve done everything right to build trust with the consumer, and to offer a new type of lending instrument that is different from a typical payday loan. The mere fact that they let you pay the loan back in installments makes them a great choice, but be sure to do your own due diligence to see how the numbers add up for your particular loan, and see if it makes sense to go with them or not.

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