If you ever need some fast cash for paying another loan such as the mortgage or for an emergency situation, then the easiest way you can do that is by finding a payday loans direct lender. Due to the high interest rates, fees and relatively short time that you need to return the cash, most people are reluctant to taking out such a loan. However, if none of your friends and family members can help you and the company you are currently working with will not give you your salary in advance, you will simply have no other choice.
In general, it is a good idea to work with a direct lender payday loans mostly because they have lower fees and, since they do not need to pay for intermediaries for making the transaction, they can offer a lower interest rate as well. One way you can find a reliable direct lender for a payday loan is to ask your friends, family, neighbors or co-workers, if they employed these services before and if they can recommend you a lender. While it is true that you will find a great deal of lender on the internet, the word-of-mouth of somebody you trust is a good way to ensure you work with a reliable and honest lender.
However, if no one in your social and work environments has worked with direct payday lenders before, you should do a little bit of research on your own in order to find the lender you would like to work with. For instance, if you have decided to look for a local lender, simply take their numbers out of the Yellow Pages and visit the ones that you like during working hours. Even though you might have to sacrifice a couple of lunch breaks, if you are approved it will be worth it, as you will get the money almost instantly.
Alternatively, if your work does not allow you to take longer lunch breaks to visit some direct lenders in your area, then you can look for online direct payday lenders with no third party from your work or home computer. Besides the fact that you will not be wasting so much time and effort, you will also benefit from instant transfer of the money into your bank account and you will get to learn more about the lender you are working with. Although it may seem like a hassle to check the testimonials and complaints for each and every lender you like, the truth is that this task takes as little as two minutes.
It is important that you check the license of the direct lenders that you work with and verify if they run their business according to the laws of the state you live in. Since loans with no bank account have been a controversial theme, many states in the Eastern part of the U.S. have outlawed them, while the rest of the states have put strict limits regarding the total sum you can take or the number of payday loans a person can take at a time.
Once you find a few direct payday lenders that are reliable, take a look at their list of fees and interest rates that you find on their website or in a highly circulated area within their office. Do not forget to read the fine print before you sing an agreement. While the lender is trustworthy, he can forget to mention about certain hidden fees or clauses in the contract. In addition, sometimes the payday loans get automatically renewed on payday and hence, you can end up with another payday loan once you think you got rid of your last one.