It is important that you investigate payday loan companies before you use their services. We rated online payday loan services based on available information; however, we did not actually acquire a loan through any of these services. We do not have experience with them regarding how they are to work with after a loan has been processed. So before using one of these companies, take a few minutes to investigate their history in your state so that you can make a more educated decision about which service may be right for you. Here are just a few things that you should do before you apply for a loan:
- 1. Contact the Department of Financial Institutions in your state, to see if the service is licensed to operate in your state and to inquire if any complaints have been made against them.
2. Contact the Better Business Bureau (BBB) in your state to see if they have any unresolved complaints against them and if whether they have adopted BBB standards.
3. Go to Better Business Bureau online and enter the website address and company name and search for a reliability report.
4. Before submitting your application or accepting funds, read all of the fine print and terms of the loan.
5. Before accepting funds, make sure that you have a way to pay off the loan in full in the time provided. If not, you will be required to pay additional fees to extend the loan.
6. Make sure you have the money in your account to pay the loan balance at the due date. If the service processes a payment and you do not have the funds to cover the balance, you will be charged fees by your bank and may be held liable for fraud. If you do not have the funds to cover the amount due, contact the service before the loan is due and before they try to process your check or submit an electronic transfer.
After contacting various agencies regarding the services ability to operate in your state, investigating their history and making sure that you can hold up your end of the agreement use the service at your own discretion and make sure that the web pages that accept your personal information are secure. Look for the ”http s” in the URL on all of the pages that you submit personal information, example:
If you’re a financially stretched and are looking for ways to save money, see Cost Effective Living.
Department of Financial Institutions
After contacting various agencies regarding the services ability to operate in your state, investigating their history and making sure that you can hold up your end of the agreement—use the service at your own discretion and make sure that the web pages that accept your personal information are secure.
To be sure that you are in a secure website, look for the https:
If you’re a financially stretched and are looking for ways to get fast money, see our reviews on Payday Loan Services.
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