Finding a payday advance lender can be a bit of a difficult task, particularly if you have had experience with payday lending previously, you have set your standards high and you know what to expect from taking out a payday advance loan. The important things to remember when looking for payday advance lenders include looking at any additional charges a lender may levy against your application, to look for impartial reviews from other applicant’s that may have experience with a particular company and to look at how long the company might take to pay out your payday advance loan.
The first thing you need to do to find a good payday advance lender is to read a few consumer reviews. Luckily, there are literally countless websites on the internet dedicated to this subject and solely this subject. The best technique for finding payday loan reviews is to use a major search engine – search for the name of a potential payday lender to which you would submit an application and include the word “review” after the name of the lender e.g. “[payday loan company] review”. Always look for reviews that contain a comments section – this is the best way to identify whether or not the review has been provided by an impartial consumer. Always look for reviews with lots of comments.
The second this you need to look for in a payday lender is exactly how much the company will charge your for your loan and the timeframe over which you will be due to repay your loan. Some payday lenders charge based on the duration of the loan rather than set a standard charge of £25 for every £100 the applicant borrows. It’s also important to be aware of any potential additional charges a lender may make against your application – the most regular charge is the same day transfer charge, this can often be as high as £25 for every payday application and thus can increase the total cost of your loan significantly.