Question 1

Why work with Direct Payday Lenders?

Accepted Answer

There are plenty of benefits to working with a direct payday lender. The biggest benefit is the ability to avail of a loan with even low credit scores. Since direct online lenders do not conduct a hard credit check, your chances of getting a loan, even when going through a negative financial situation, may be high.

Secondly, direct payday lenders have much quicker processes when it comes to evaluating your loan request. Unlike traditional institutions and banks, direct online lenders do not have a host of formalities that the borrower needs to fulfill.

Thirdly, there is no need to visit a physical branch and sit there for hours. You can complete the entire process online from the comfort of your home. The use of technology makes the process faster and more convenient.

Fourthly, the loan disbursal is also quick and usually happens within one business day>. If you are looking to address a financial emergency and are in need of quick funds, then direct online payday lenders can be very useful.

Fifthly, direct online lenders tend to not conduct a hard credit check by pulling up your credit report from a major bureau. Instead, such lenders perform a soft check which does not affect your credit score negatively.

If all your paperwork is in order and if you submit your information accurately, then getting an approval for a bad credit loan does not take much time. In many cases where all the information is in place, the loan disbursal also happens in a timely manner and you receive the funds faster than the time it would take conventional lenders to disburse the loan amount.

Question 2

What is Paydaynow’s loan request process?

Accepted Answer

Fill out the form
Sign your loan documents
Receive your funds

It is really that easy. One you have submitted your information wait for the form to pass through to the notification. It could take 2 or 3 minutes maximum.

The first step is to fill out a loan request form on Paydaynow’s website. This form is quite short and will only take a few minutes to fill out. You will be asked basic information like your name, a valid email, a contact number, and some bank details. Additional information like employment status and income details is also to be submitted.

Once the request is received, you will get an instant decision as to whether you qualify for the loan or not. If you do qualify, then your profile will be evaluated and you will then be provided with a loan offer.

This offer can be sent via email and it will contain the terms and conditions along with the interest rate. The loan amount will also be known at this stage.

If you decide to accept the offer, you can do so online and then the loan amount may be disbursed in one business day. Usually, if all the information and documentation is in order, then the disbursal is quick.

Payday loans are generally due by your next payday. So, the tenure or duration can range from 14 days to 30 days. That gives you some time to arrange for money to repay the payday loan that you have borrowed.

Question 3

Does Paydaynow ask for any collateral?

Accepted Answer

If you have a source of regular income or if you are employed and have been working for some time, then there may be no need for pledging assets as collateral.

This is true even for borrowers with bad credit. Direct online lenders just need to know if you are capable of repaying back the loan with a steady source of income.

Cash advances from Paydaynow only require employment records as collateral. As the duration of payday loans is a few days or weeks, your next paycheck is going to be used to repay back the loan. Hence, the emphasis on collateral is not as high as it may be with traditional lenders.

Such online loans are not easy money by any means. They are highly regulated and credible lenders work in a professional manner. As long as you are a qualified borrower, you will find such loans to be quite convenient and easily available.

You just have to follow the process and provide all the necessary information. If everything goes smoothly, then you can even receive the loan money within one business day in many cases.

You should look for lenders, not brokers

When seeking an online bad credit loan, you should always search and find reputed lenders who have a track record in the industry. You should favor legitimate online lenders over brokers. You should work with lenders who do not use brokers.

A reputed direct lender offers you the loan request facility 24X7. The processes of such a lender are quick and hassle-free. Traditional banks and lenders have the 9X5 working culture and once they shut shop, you cannot request a loan until they open the next day. But with online lenders, you can sit in your living room and fill out a loan request form at 3 in the morning.

If you have a positive history of repaying back loans on time, then online direct lenders may even offer you better terms and lower interest rates on future loans. If you have a history of borrowing from a direct lender before, then you may not have to go through the same process every time either.

Online loans with no credit check are getting more and more popular with time. Even though they are more expensive than traditional loans and have higher interest rates associated with them, they are being preferred by certain types of customers who value the timeliness and hassle-free processes of such loans.

Direct Online lenders deliver quick decisions

We appreciate the fact that a borrower will look for online loans when facing a difficult financial situation. The need of the borrower is quick cash without having to wait for days going through formalities and processes. Therefore, payday direct lenders have designed their processes to deliver quick approval or rejection decisions.

Lenders like Paydaynow do not conduct a hard credit check when a loan is requested. Only a soft check is performed in order to evaluate the eligibility of the borrower. Such processes along with the use of technology by making the loan request form available online makes loans offered by direct lenders faster than those offered by traditional institutions

Question 4

What are the alternatives to online payday loans?

Accepted Answer

The alternatives to online payday loans are family and friends. Yes, you will have to ask your family members or friends whether they are willing to lend you some money to tide over a financial emergency. Such conversations can be quite sensitive and there is a risk of embarrassment as well. There is a lot of emotion involved when borrowing money from the people you are close to.

Therefore, borrowers with bad credit or those who are facing an unexpected financial situation prefer to look at online direct lenders. There are no emotions involved in borrowing money from direct lenders. There is no embarrassment to face either and you can get quick disbursal of the amount to address a financial problem that you may be facing.

Question 5

Bad Credit and Guaranteed Loans?

Accepted Answer

If you have bad credit you probably think you do not stand much chance of getting a loan guaranteed. That is not the case. Direct payday lenders only do a soft credit check on your background. even with bad credit you can get a loan.

If you asking yourself how do I get payday loans from an actual lender? The answer is simple we connect you hundreds of lenders in our portal. We offer solutions to:

Installment loans
Payday loan consolidation
Title loans
Same Day No Credit Check Loans

Why You Should Avoid Intermediaries and Deal with Direct Lenders

Sometimes, you cannot avoid borrowing money to supplement your needs. Obtaining a loan directly from a bad credit lender could be one way for you to ease your financial burden.However, there are intermediaries who will ask for your financial information and then sell it to the highest bidder. It is essential that you deal with the lender directly. Reasons to avoid brokers include:

Misleading Direct Lender Sites

It takes time for you to look for a lender that provides loans to customers while keeping their customers’ information safe. Lenders provide loans to consumers and their financial information is stored according to state privacy laws. Brokers’ sites may have dubious security which puts the confidential information you’ve provided at risk.

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Online Payday Loans Direct Lenders

Why work with Direct Payday Lenders?

What is Paydaynow’s loan request process?

Fill out the form

Sign your loan documents

Receive your funds

Bad Credit and Guaranteed Loans?