• Online Payday Lending Resources

    Last Updated 6-14-2021

    Are you looking for a glossary that covers all applicable terms in the payday lending industry? Be sure to check out our newest page that covers everything you’ve ever wanted to know about payday loan terms. Direct Loan Lenders – Payday Lending Glossary of Terms

    Do you know how a direct payday loan works? Do you know what the fees are and how long it will take to pay back a loan? Have you checked to see if your state even allows payday loan lenders? Do you know what other options are out there before you consider taking out a payday loan? Are you familiar with the difference between online payday lenders and other types of financing like car title loans? If you don’t know the answers to all these questions then you may want to do your own research on how most of the large online companies work. We’ve provided a few select links below about the online lending industry. These articles should shed some light on how these types of online loans work. You can also see the problems you may run into if you borrow money for the wrong reason.

    Online Payday Advances – What To Know

    Remember, payday loans are designed for a short amount of time. They should only be used as a last resort. Direct payday lenders will usually issue a loan with the expectation that you’ll pay back the loan within 15 days or on your next pay date. If you don’t have a checking account or savings account this is a problem, as most withdrawals are usually done through direct deposit. You need to do all you can to pay off your loan within these first 15 days! If you allow your loan to continue or “rollover” you’ll end up in an endless cycle of short term lending debt. You’ll only be paying the interest on your payday loan each payment cycle. No payments are applied to your balance! If we can give you any advice it would be to understand how your online cash advance works before you sign off on it and get your money. While it’s refreshing to get cash, you’ll run into problems if you don’t understand how your loan works.

    Use these links and resources to find the most up to date information about the direct lender payday loan and installment loan industry. The online loan industry is changing. Each state has different laws and regulations about installment loans and cash advances. It comes to happen that these laws are different in most states. In fact, there are many states with various types of pending legislation. These changes could alter the financing environment for years to come. Be sure you’re on top of your state’s laws when it comes to regulating online finance lenders. It’s legal in some states for an online company to offer you financing. While other states like New York and North Carolina have strict rules against payday loans. You can see your state’s specific rules here: State Rules and Regulations.

    Be sure to check out the links listed below if you’re thinking of working with any online financing companies. There are many cheaper options you’ll want to check out before getting a payday loan from any of the large financial institutions or banks. These choices include a credit card cash advance, car title loan, or doing odd jobs for money. If you find yourself needing an online loan as a last option be sure it’s from a direct payday lender! Remember, you can always find the most recent list of direct payday loan lenders broken down by state at our home page.

    Click here for a breakdown of direct payday loans issued by state:

    This chart breaks down the borrowing costs for each state.

    Helpful Links Resources & Articles About Direct Payday Lenders:

    Still looking for more information on how direct payday lenders work?

    Ok, no problem! We’re glad you’re being diligent. Here’s a good tidbit for you. Are you’re talking to a company that offers online payday loans with No Teletrack requirements? If so, you should first ask them if they’re licensed in the state you live in. It’s a definite red flag if they’re not licensed in your state. This means your options are limited if things go bad. The company may continue to take money out of your account without your authorization. Bottom line, you don’t know what a company will do if they’re not a licensed direct payday lender. Take regulations in California. If you live in California you have many options when it comes to finding a trusted lender. There are hundreds of storefront locations all throughout the state. You have many online lenders ready to help you with short term financing. Did you know that are limits in California when it comes to the fees that a lender can charge you? On top of that did you know that interest or late charges are not allowed in California? If you’re a California resident the only cost you should incur when taking out a payday loan is the up-front fee. That’s it! This fee is regulated by the state and as of our last update in 2021, it was $45.

    This information is helpful if you’re searching the web for direct payday lenders. Use these resources if you come across a company that’s offering a loan with significant interest. It would be best to move on if you find a company with rates and fees higher than most firms. Either this company doesn’t know the laws governing direct payday loan lenders in California, or they simply don’t care. Regardless, you don’t want to do business with that company. Especially if they’re not in line with California regulations and restrictions for 2021. Work with firms your respect and be sure to discuss all terms and contract language with your lender.

    use this list of lending resources to make an educated decision on a short term loan company