Payday loans from direct lenders only

shutterstock_46665427Considering a payday loan? Well, if you’re like thousands of other folks, you may find yourself in a position where a little extra cash in hand would be most useful. The quickest solution is to get a short-term loan. There are many ways to get a loan. There are only a few that are fast and come with little hassle. Those usually come from direct lenders.

How it is With Direct Lenders

Let’s take a look at Joey. Joey has graduated college and has recently entered the workforce. He knows he’s going to need dependable transportation for his job but, his current car needs some mechanical work to make it fully reliable. Joey knows he needs to have his car worked on soon so he decides to get a payday loan

Now Joey’s friend Bobby is in a similar situation with a new job and a motorcycle that needs some repairs to pass inspection. Bobby’s not as money-savvy as his friend Joey when it comes to borrowing so he tries to get a loan from the Well, it seems Bobby’s situation of only being recently employed and a few bank policies are keeping him from getting any money until the bank reviews what little credit he has further. Sorry, Bobby. Better luck next time.

Meanwhile, Joey goes online to get a payday loan. He knows what he needs to fix up his car and that he can pay it back in the next two paychecks. Joey did some research beforehand so he’s aware that he’ll likely need his social security number, which will prove his citizenship or permanent residence, and proof that he is 18yrs or older. Joey’s not worried about his lack of credit as the lender he’s chosen doesn’t look at FICO credit scores.

How it is Without Direct Lenders

Now, Bobby sees how successful Joey was with getting a loan that he asks how Joey got one so fast. Joey tells Bobby about payday loans and how they work. This is great news for Bobby who rushes out to get one. Better be Careful, Bobby.

Interesting facts

  • Upside-Down, also known as negative equity, refers to owing more on a loan than the value of the asset for which the loan was used to purchase. Upside-down loans occur when the asset depreciates in value, or was overvalued when the buyer purchased the asset.
    For instance, given that most cars rapidly depreciate in value, it follows that...
  • In corporate finance, Structural subordination refers to the concept that a lender to a company will not have access to the assets of the company's subsidiary until after all of the subsidiary's creditors have been paid and the remaining assets have been distributed up to the company as an equity holder. For example, if a lender loans money to...

Additional information

Borrower Responsibilities for Payday Loans Direct Lender
Borrower Responsibilities for Payday Loans Direct Lender ...
How Do I get A Payday Loan From a Direct Payday Lender
How Do I get A Payday Loan From a Direct Payday Lender