So, you’ve decided to get a Payday Loan, have you? It couldn’t have been an easy decision, I know! If you’ve done your homework, you already know that a Payday Loan is not the cheapest alternative to a shortage of cash, but if you’re at the point where you have no other legal lending options open to you; you know it’s just the ticket! Also, based on the disconnect date of the past due utility bill you’ve just received, and the fact that your Tabby cat has gone on a hunger strike, protesting the generic knock-off brand of food you’ve been feeding her, you need cash extremely quickly and a Payday Loan can definitely nab you that! Besides, there’s nothing worse than a hungry skinny cat!
So here you are, poised at your PC, having just taken the first step towards easing your financial crunch by performing an internet search for Payday Loan providers…..and suddenly your hand freezes over your mouse! You’re mesmerized by the vast selection, frozen like a deer in headlights, like a diner at a buffet, agonizing over which dessert to select! Amidst all this, an unpleasant and niggling little doubt tickles the edge of your consciousness. How do you know your online Payday Loan is safe? Relax – it’s easy! Just be “S.A.F.E!”
S = Site security, is your prospective Payday Loan providers site secure? Look for the little yellow
padlock icon in the lower right corner of your screen. In addition, check to see if there is an “S”
after the “http” section of the sites internet address at the top of the screen. If both are there,
you can be assured your Payday Loan provider has taken steps to ensure that your personal
information, at time of submission, is encrypted and secure.
A = Ask and analyze! Inquire as to the security clearance of personnel who will have access to your
personal information. Ask questions regarding any concerns you have and keep asking until you
are satisfied with the answer. If you don’t get complete answers, you might want to find another
provider.
F = The Federal Truth in Lending Act, which is in place to protect both Payday Loan customers as
well as lenders. If your Payday Loan lender does not recognize or comply with these laws, most
definitely look into finding another provider! “F” also applies to the “FAQ” section of the lenders
website. Read it in case there are answers to questions you forgot to ask.
E= Evaluate the terms and conditions offered, making sure you understand all of it. Keep an eye out
for hidden fees and charges that may have not been disclosed up front. In addition, carefully
evaluate the amount you can afford to borrow. It’s easy to be tempted to accept the full loan
amount offered, however, the lender offering this does not know you personally, or live with
you (or your hungry cat!). Keep in mind, that these are funds that will be due for pay back on
your next payday, these are essentially funds you’re borrowing from your next paycheck. How
much can you afford?
A Payday Loan is essentially as safe as you make it! An informed consumer is a smart consumer! Armed with your new knowledge you can feel prepared to take the next step and click that mouse. You are more than ready to select a Payday Loan provider from the buffet of services offered, with no fear that your selection will give you indigestion! Go ahead, dig in! Bon Appétit! Oh! And don’t forget to feed the cat!
