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Honest Loans vs Helping Hand Advances

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HONEST LOANS

Honest Loans provides connections between prospective borrowers and a network of partner lenders. Their application process only has two steps, but you'll be required to enter detailed personal information, including your bank routing number and account number.

We were glad to see that Honest Loans is very, well, honest when it comes to disclosing interest rates: their partners are likely to charge anywhere from 200% to 2,290% (yes, that is two thousand two hundred and ninety percent) APR. Full terms and fees are only available once you are matched with a prospective lender.

Honest Loans also has a higher lending amount, up to $2,500, than many of the services we reviewed. Of course, this depends on your personal situation, including your credit history, employment status, and so on.

Unfortunately, we were not able to find further information as to Honest Loan's history or track record with respect to customer satisfaction. We would definitely like to see customer testimonials, reviews on independent websites, or a rating with the Better Business Bureau, in order to know if they are successful with connecting borrowers with reputable sources of payday loans.

You should also know that you are not eligible for a payday loan from Honest Loans if you are a resident of one of the following states: Arkansas, Arizona, Connecticut, Georgia, Maryland, Massachusetts, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Vermont, Virginia, Washington D.C., and West Virginia.

We give Honest Loans good marks, which would easily improve with a more established reputation for good customer service.

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HELPING HAND ADVANCES

Helping Hand Advances provides convenient temporary solutions to people that run into a financial bind. To request a payday loan of up to $1,000 you simply apply online using their customer friendly website and answer a series of questions. Helping Hand Advances is available to assist customers with payday loans in over 40 different states.

Once your information is input into the system, Helping Hand Advances validates your details for payday loan approval. No additional information needs to be faxed in the majority of cases, and Helping Hand Advances does not place a credit or teletrack check. Helping Hand Advances states that your loan will be approved within minutes. You simply wait for the finalization to determine if your payday loan request is accepted - no need to talk to a representative on the phone. Once the approval comes through you'll learn the details of the payday loan terms. The term may run between 7 and 31 days, with loan extensions available. Approved payday loans are deposited directly into your bank account overnight.

Overall, Helping Hand Advances is a good option for your next payday loan. With a no hassle loan application process, and a flexible payment period, Helping Hand Advances will meet the needs of many individuals looking for short term cash assistance.

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Payday Loans

To help you find the Best Payday Loans, TopConsumerReviews.com provides you with an in-depth comparison of Honest Loans and Helping Hand Advances.

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.

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:

  • Loan Amount.  How much money do you need? A variety of loan amounts are offered by different lenders.
  • Service Fees.  Look for companies that state their fees up front or guarantee lowest fees.
  • Convenience.  Can your application be processed entirely online, or will you need to fax in documents? How quick will the money be deposited to you?

TopConsumerReviews.com has reviewed and ranked the best payday loans available today. We hope these reviews help you meet your short-term financial needs!



What to Look For in a Payday Loan

When searching for any type of loan, including payday loans, there are a number of factors to consider. Although fast cash payday loans are different in some respects, they are very much like any other loan in that convenience, cost and quick replies are essential. With that in mind, this article is designed to give you an accurate and detailed look at some of the factors to look for when choosing where to submit your application for payday loans.

  • Convenience. Can you apply online? If so, how long will the application process take? With the internet being so popular, many lenders now allow for fast and easy online applications, which also means quicker approvals. Due to the fact that payday loans focus less on credit history and more on your current ability to repay the debt, there is often a faster response, especially if your employment and income and easily verifiable.
  • Response Time. While considering payday loans, you should look at the average length of time for an approval and an estimate on how long it will be before you receive the cash advance. Payday loans are often referred to as a cash advance because, quite simply, they are a cash advance with your next paycheck being used as collateral.
  • Loan Fees. Every lender is different, but one thing remains virtually universal when it comes to payday loans. Almost every lender will impose a fee that is based on the amount of money that you borrow. In addition to the full amount of the loan being repaid, the fee must also be paid before the loan will be satisfied. It is crucial that you know exactly how much these fees are prior to applying for payday loans.
  • Loan Amount. Most payday loans are issued for an amount up to and including $1,500.00, but some may only lend up to $500.00. Available loan options, including the maximum loan amount, may differ from one lender to another. Prior to requesting payday loans, you should think about how much money you actually need and then look for a lender who can help you.
  • Reputation. One of the most important things that a company can have is its reputation, which is why it is important to research a payday lender as thoroughly as possible. It may be a good idea to research company both with the Better Business Bureau (BBB) and through reviews produced by independent, third-party reviews.

Payday loans offer quick cash for those who need it and, best of all, they are available almost immediately. These types of loans help those who may be faced with life's unexpected events, expenses or are just running short on cash and need a helping hand until the next paycheck rolls in. Whatever the reason, payday loans provide a valuable service and it's important to know what to look for and how to choose the right lender for you.

 



Payday Loans In The News

British regulator warns payday lenders over loans and compensation

LONDON, Oct 15 (Reuters) - Britain's financial regulator has fired a warning shot at payday lenders amid a rise in complaints about unaffordable loans and following the collapse of Wonga earlier this ...

Published:  Sun, 14 Oct 2018 23:50:00 GMT



U.S. Bank unveils payday lending-type loans for cash-strapped consumers

Consumer advocates for years have decried payday loans as a costly way to borrow and one that keeps people trapped in a cycle of high-interest debt. The howls of protest could grow louder now than a m...

Published:  Thu, 27 Sep 2018 04:36:00 GMT



Payday loans are part of a deeper problem that investors must help fix

Robin Jarvis has received funding from ACCA to support the research on Payday Lending and Personal Debt problems in UK society. A another relevant publication authored by Robin Jarvis with Mick McAtee...

Published:  Tue, 18 Sep 2018 07:42:00 GMT



A major bank is offering payday-style loans. Will others follow suit

U.S. Bank says it will offer nearly instant small loans to its customers, becoming the first bank to provide such a product since federal regulators cleared the way earlier this year amid continuing c...

Published:  Tue, 11 Sep 2018 15:02:00 GMT



While Feds Loosen Payday Loan Regulations, Colorado Voters Could Clamp Down

As the federal government walks back historic regulations on payday lending, Colorado voters this fall will be asked to tighten them -- a sign that strong consumer protections are increasingly being l...

Published:  Thu, 30 Aug 2018 12:04:00 GMT



Rock Island wants to limit payday-loan businesses

ROCK ISLAND - City council members are considering a limit on the number of payday-loan businesses allowed in the city. Ald. Dylan Parker, 5th Ward, said the idea was discussed during a study session ...

Published:  Thu, 16 Aug 2018 18:25:00 GMT



9 Alternatives To Payday Loans

You have an important bill to pay and not enough money to pay for it. A payday loan might be the solution to your problem if you don't mind paying very high interest rates. It's not uncommon for payda...

Published:  Thu, 16 Aug 2018 01:20:00 GMT




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