How to choose a reliable Payday lender? Licensed companied vs loan sharks and scams.

When you are going to take a Payday, Installment or Personal loan the first most important thing is to find out their legal status and regulations in your state, and the second – to choose a reliable lender. Why is this choice so significant?

  • Usually loan amount, rates and fees may vary depending on the lender;
  • The requirements as well as your chances of being approved for cash advance even if you have bad credit are also different according to the lending company;
  • You can be sure that your rights are protected and your privacy is secure only if you deal with a legal licensed lender who works under the state’s regulations.

TOP RATED COMPANIES

Rates last updated March 23rd, 2019

LEND YOU

$1,000
MAX Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

15%
MIN APR

The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

None, Unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

LendYou.com is the easy way to find the cash you need when you need it. You’re looking for cash to pay bills, to buy a car or maybe do some work around the house. LendYou.com has the lenders you're looking for. It's easy. It doesn't matter the size of the loan you're looking for… LendYou may be able to connect you with a lender that can help.

The loans you need, when you need them. 

 

4.4857142857143

Check Into Cash

$1,000
Maximum Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

Varied by state
MIN APR

The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

Check Into Cash is a national leader in direct lending, providing customers with affordable, short-term, small dollar credit solution. We provide Payday Advances, In-Store Cash Advances, Online Payday Loans, Title Loans, Title Pawns,Check Cashing, Western Union®, walk-in Bill Pay, and reloadable prepaid U.S. Money Cards in our centers nationwide. Check Into Cash is truly your one-stop money shop.

4.3333333333333

CashAdvance.com

$999
Maximum Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

15%
MIN APR

The minimal percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.

None, unsecured
Collateral or Guarantor

Collateral – is some kind of your property which ensures the lender that you will repay the money. Guarantor – is a person that sings the agreement thus giving his guarantee that you will repay the loan. Payday loans are unsecured which means to get cash advance you don’t need either a collateral or guarantor.

Available for Bad Credit

CashAdvance.com is one of the more trusted names in payday loans, and works the same as Trusted Loan Network in that it aggregates lenders to help match the best one for you. They offer a wide range of loans and have some of the lowest APRs in the payday loan business. CashAdvance.com also does not require a credit check, but you do need to be 18, have a source of income and have an open back account. Once you are approved, funds will be deposited in your account the following business day.

PayDay Loan Calculator

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Select the amount for the loan you want in order to get the principal, which is the basis that we use to calculate the interest and the total cost of the cash advance.
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The number of days within that you will be ready to repay the loan. It’s used to count the total cost of cash advance by multiplying the days by the amount of interest.
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To calculate the total cost of your loan, we take the minimal average APR legal in all States, which is 36%. This figure is only a representative, providing you with general information on how much the loan may cost. To find out a more accurate total, fill in the Annual Percentage Rate required by the lender you want to apply to.
?
It’s the money charged by the lender for doing all the necessary paper work, bank transactions, etc., connected with lending you the money.
$ Your loan
+ $ Your fee
= $ Total Cost*

* Total Cost - The sum of money you are to pay off within the term you’ve chosen if you borrow the stated above amount for the average (or required by your lender) APR.

All the calculations are provided as guides only. They don’t guarantee 100% the same cost you are going to be charged but they do help you understand the overpay much better. Unless you change the APR, the calculations will be based on the average or lowest rate represented by most lenders for each loan type. You’ll find the accurate interest rate as well as the real cost of your cash advance after you get approved before you sign the agreement. It will depend on many factors including the amount, the term of the loan, your credit score and the lender’s conditions. Interest rates are not fixed figures and are subject to change at any time. As soon as you fill out an application and get approved all the details concerning the rates and terms will be sent to you.

How can you tell a reliable lender from a scam?

All the lending companies that work legally, e.g. follow the state’s rules and regulations, thus ensuring the borrowers’ rights and protection, must be licensed. So, before choosing the lender check it out on the Ministry of Government and Consumer Services’ website.

  1. Go to the Consumer Protection Branch website [ https://www.justice.gov/civil/consumer-protection-branch ];
  2. Search for License / Lender / the name or address of the lender.
  3. You’ve got the list of all the licensed Payday lenders in the state. If the company you want to apply is not there, you’d better choose another one. Otherwise if you have any problems or complaints you won’t be able to get any help or protection from the state.
  4. Compare Payday Loan Lenders Online at COMPACOM

NEED CASH FAST?
  • Payday Loans $100 - $1,000
  • Personal Loans $1,000 - $35,000

Besides, lenders may be OLA certified. It means they are the members of Online Lenders Alliance. It is the center of lending, technology and innovation, representing the growing online lending industry. Its members follow a list of Best Practices and Code of Conduct, which ensures the customers are well informed and fairly treated.

Did you know?
Online lenders Alliance members offer safe and convenient loans for hard-working Americans. I’s definitely recommended as it’s safe, it’s easy as quick, it’s something you can do from your phone. Every year more and more Americans turn to the Internet to secure a loan. Most of online borrowers have an average income of $48000 per year. Cash advance helps them to make sure their bills are paid, they are not gonna lose their home, car, etc. Alliance online lenders are proud to provide only high-quality service.

More than 300 direct lenders we work with are all licensed and OLA certified, verified by time and really reliable. You can be sure your rights will be reserved and lending process the most convenient and secure one.