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Payday loans provide a much-needed service to millions of people. There are many times when short-term debts outrun the ability to pay. In times like this, a payday loan (a loan against a future paycheck) can provide the cash necessary to meet those needs.
The advantages of payday loans are many. Often they don't require a credit check from the major three credit bureaus. The best payday loans offer amounts that can range from a few hundred dollars to $1,000. And you receive your loan very quickly; sometimes as soon as tomorrow.
Thursday, June 24th
With over 400 lenders in their network, Cash Advance has the largest pool of lenders competing for your business that we've seen. Combined with an easy-to-use website and over 15 years in business. Cash Advance is a strong choice for your next payday loan.
Honest Loans is a loan referral service like many of the payday loans providers in our review. We like that their partners offer more cash than some lenders, and that they're upfront with the fact that interest rates may be high. However, there are many states that aren't served by Honest Loans, and we were unable to find any customer reviews - positive or negative - to get an idea of the quality of the service provided.
Cash Central is a good upstanding lender, not just a payday loan broker. Their downfall is that they are only licensed in the western half of the U.S., and can only loan up to $500 cash.
Cash Net USA provides payday loans and lines of credit for customers in 30 States. We liked the quick approval and payment turnaround with this provider but were concerned with their low BBB rating and citations from the state of California.
With a no-fax, no-credit check loan application process, My Payday Loan offers an easy way to get an advance on your next paycheck. While their website may not be as professional as others in our review, it does offer helpful information to those in need of a short-term loan.
Drawbacks? Payday loans typically charge service fees that are greater than traditional loans. These service fees can range from $10 to $30 per $100 loaned, and sometimes even more. Many states have regulations stipulating the amount of service fees that can be charged. Obviously, the best payday loans are meant to address quick cash needs, and should not be used as a long-term solution.
Still, in order to meet short-term obligations, payday loans can provide a fast and easy solution. When evaluating different payday loans, there are certain factors you want to consider. Some of these include:
TopConsumerReviews.com has reviewed and ranked the best payday loans available today. We hope these reviews help you meet your short-term financial needs!
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