Payday Loans In The US – Things You Need To Know

Payday loans

Photo Credit – Nyakreal.com for Payday loans

 

 

Payday Loans

A pay day loan is a short-term loan meant to tide the borrower over until their next payday. Payday loans is a short-term loan that is designed to help you out between paydays. Even though you are working, you may encounter an unexpected financial crisis that needs to be taken care of immediately, though it is still a matter of few days or weeks until your next paycheck.

This pertains to a lot of scenarios like paying for urgent expenses like rent or repairs on your vehicle, which can make you stuck unless you can get hold of emergency funds in a hurry.

Advantages of Payday Loans

Payday loans offer the following advantages:

  • No credit check necessary from major credit bureaus.
  • You avoid charges for interest, credit cards, bank overdrafts and NSF checks.
  • Repayment terms are easy.
  • Payday loans are quick and simple to secure.

Choosing a Payday Lender

Before choosing the best payday loans direct lender for you, it is important to carefully weigh the pros and cons of working with a payday lender. Because payday loans come with steep interest, it is best to only utilize one when you really need one. These types of loans should generally be considered only as a last resort. There are multiple options available when it comes to cash advance companies. There are sure to be several payday loan lenders available locally in your area where you can go and obtain a loan face-to-face.

There are also a number of payday loan companies online, many of which service customers throughout the United States. But how do you know which is the best payday loan company for you?

In this Article, we provide you with a List of firms in the US where you can the best services for your payday loan. It is also important to carefully read through the terms and conditions provided by each company before settling on the best payday loan company and the best payday loan for you.

  1. ACE Cash Express Review

Founded in 1968, ACE Cash Express is the largest owner operator of check cashing stores in the United States. They are a payday lender that provides short-term loans, bill pay, and prepaid debit card services in addition to check cashing. This best payday loan company specializes in serving consumers who are seeking alternatives to traditional banking. Since their inception in 1968, ACE Cash Express has served more than 38 million customers and currently services customers across 21 states.

Key Factors That Enabled This Payday Lender to Rank as a Best Place to Get a Payday Loan

 

Below are primary reasons we selected ACE Cash Express to be rated as a best payday loan company among this year’s top payday loan lenders.

  1. Easy Online Approval Process

ACE Cash Express features a simple loan application for potential borrowers to fill out on their website. The application only takes a few minutes to complete, and customers are given an instant credit decision.  This top payday lender has easy minimum requirements for being approved for their best payday loan. When applying online, customers need to provide:

  • Income information
  • Social security number
  • Personal information
  • Bank account information
  • Phone number

ACE Cash Express does not perform typical credit checks on their customers, making qualifying for a cash advance from them easy even for those with less than perfect credit.

  1. Money Transfers

As one of the oldest payday loan companies, ACE Cash Express offers services beyond what other payday loan lenders offer. For those who need to send money to friends or relatives in the U.S. or overseas, this best payday loans direct lender offers a money transfer service.

With their secure and convenient service, customers can wire money anywhere in the U.S. as well as to more than 200 countries worldwide. Transfers can be made online or in-store at one of the payday loan lender’s to more than 1,000 locations.

Customers have the option of choosing either same-day or three-day service, allowing them to choose the speed and cost that best fits their needs.

 

  1. Blue Trust Loans Review

This is a payday lender based in Hayward, Wisconsin. This payday loan company was founded in 2014 by the Native American tribe of the Lac Courte Oreilles Band of Lake Superior Chippewa Indians. It is important to note that as a federally recognized American Indian Tribe–owned business, Blue Trust Loans has sovereign immunity. This generally means that they cannot be sued in court. It is important to take this factor into consideration when deciding to do business with them.

 

Key Factors That Enabled This Payday Lender to Rank as a Best Place to Get a Payday Loan

 

Below are primary reasons we selected Blue Trust Loans to be rated as a best payday loan company among this year’s top payday loan lenders.

  • Short-Term Installment Loans

Most payday loan lenders require the entire loan to be repaid in one lump sum on the due date, which is normally a few weeks from the date of the loan. Blue Trust Loans is different from other payday loan companies in that they offer short-term installment loans.

This best payday loan lender allows their customers to pay their loan back in installments, rather than requiring it to be paid in one lump payment. This makes it easier for their clients to make the required payments on time and not fall into the common payday loan cycle of constantly paying an extension fee. Most of Blue Trust Loans’ installment loans are set up to be repaid over a six-month period, helping customers to easily manage their repayments with this payday loans direct lender.

  • Fast Funding

Blue Trust Loans provides easy, quick funding of their loans. They realize that consumers seek out the services of payday loan lenders when they are in need of quick cash. Once a customer has been approved for a loan and has agreed to the loan terms, this payday loans direct lender deposits the funds directly into their bank account in as little as one business day. This quick funding can be a big benefit for those who have found themselves in a dire financial situation.

  • No Pre-Payment Penalty

Blue Trust Loans is among the payday loan companies online that allow customers to repay their loan before the required due date without penalty. Many payday loan companies charge their clients a fee for paying their loan off early, but Blue Trust Loans is not one of them. In fact, repaying the loan early may help customers to lower the amount they pay in finance charges over the course of the loan. Customers who repay their loan early could potentially save hundreds of dollars in interest charges, making this top payday lender a great choice for a payday loans direct lender.

For more information on this subject matter, visit LawsandLoans.com to get more updates on the best firms to obtain your payday loans, we keep you updated!