Considering 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 bank. 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.
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