Finding The Right Payday Loan Direct Lender
If you are looking for a payday loan without using a broker, you must be searching for direct lenders who can willingly provide you with desired amount of loan without charging additional service fee. Applying through direct lenders eliminate the charges that you would have otherwise paid to your broker to set up the deal.
Clearly, direct payday loan lenders are establishments, offline or online that can offer you short-term cash loans instantly. The amount of loan that you can expect to get under this category will be based on the amount of money that you earn in a month from your employer. The purpose of a payday loan is to help you meet your financial requirements until your next payday. This usually requires you to pay the loan back as and when you receive your next pay check.
In most cases, payday loan direct lenders will ask you to provide proof of regular income from your employer, bank statements of 3 consecutive months and other certain income requirements.
How to Find Payday Loan Direct Lenders
It is easy to find payday loan direct lender online. However, there’s a huge variety of lenders that are maybe not so suitable for your needs. Read on to learn how you should you go about selecting and finalizing a lender that is reputable and licensed.
Find a Direct Payday Loan Lender
It is easy to locate direct lenders through google, bing or any other search engine you prefer. Look for direct lenders whos rates and terms meet your criteria. Perform an internet search using relevant keywords so you get to explore a wide variety of loan lenders or online businesses relevant to your requirement.
Look For License
Determine if the payday loan direct lender is certified and licensed to practice lending. Redwallet is licensed by the OFT and a member of the CCTA.
Conduct A Background Check
It is imperative to conduct an extensive research on the background of the direct payday lender. This will allow you to review any complaints that might have been filed against the business.
Review the Terms Of The Loan
It is important to go through all the terms and conditions of the payday loan to make sure you are happy to proceed. It will also allow you to understand the terms of agreement in respect to interest rate, applicable fees, and time for repayment. Read through all terms to sign before you agree to the loan.
Take your time to find a good lender, rather than rushing into any business you come across. In fact, it is a better idea to take out time to find one before you actually feel the need. This will ensure less pressure and stress at the time of financial crisis.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk