Loans from Payday loans direct lenders are a practical solution when you are strapped for cash and an emergency occurs and the options you have are very limited; your family and friends are not the lending type or are as dirt broke as you, banks are not viable because they tend to have long procedures that take too long, your credit score is bad and finally you are afraid of Sherlock dens because they break your knee caps if you default.
Benefits of Direct Money Pot Loans
They hold independent registration from the necessary bodies and have a valid licence to operate so they operate within the law and transactions with them is legitimate. However confirm with the relevant bodies by making a call to be on the safe side.
• Simple application process
It takes less than two minutes to fill your application online and have it processed. This is because they do not do extensive background checks that may take days to obtain. All they need to do is to confirm if you are employed and receive a good salary and that you are able to repay the loan.
• Get cash instantly
After the short process and signing the contract that stipulates the terms and conditions of the loan you get your cash. It takes less than 15 minutes.
• Approval rate of loans is 90%
The chances of your loan application being rejected are quite minimal because the requirements are you need to have a good salary and your employment terms are not shaky you must have been employed for at least three months before applying for the loan. Their loans are short term so they can quickly recover their money.
• Online application secure
Your transaction and details are secure as payday loans direct lenders have ample security on their computers because they would be out of business if it ever came to light that details of their customers is being leaked so utmost discretion is maintained.
• Less scrutiny
Even if you have a bad credit score you can still get the loan because what they focus is your ability to pay them now.
Terms that you should be very careful with
Scout around and find the lenders that offer you the best rates possible check for hidden costs or changing terms to ensure you are fully aware of what you are getting into.
Collection of loan
Choose a lender that has collection options that are convenient to you.
Nobody likes defaulting but circumstances may force you. Check the penalties for defaulting and other borrowing policy. See if the lender is agreeable to loan restructuring which will save you from a bad credit score.
Late payment usually attracts a fee see if it is convenient for you.
Check the terms of renewing your loans do you first have to clear the first or can they be combined to make one single loan? what are the additional charges on repayment as well as the new high interest rates?
They offer reasonable interest rate because they do not pay commission. You must have a valid checking and savings bank account, you must have a regular well paying job to benefit from payday loans direct lenders as you can get a loan the same day.