Finding a Legitimate Cash Loan
October 13, 2009 11:32 pm ReferenceYou should avoid any lender who asks for up-front fees, including application fees, because they might be out to take whatever cash they can get from you and run. Next if the rates seem too good to be true, you should be suspicious because nothing is for free. If the lender seems to be more interested in your personal information, such as social security numbers and bank account information, instead of wanting to confirm your employment and ability to repay, then you may have a predatory lender after you.
Be wary of any online site without any contact information. You should be able to easily find phone numbers and address information, if not then move on the another lender. Finally, if the lender is reluctant to give you the terms of your loan up front, then they aren’t just dishonest but also breaking the law. They are required to give you the terms of the loan and APR up front. If you experience any of these behaviors during your loan process, then stop immediately and look for a legitimate payday lender who has nothing to hide.