Are you thinking about a payday loan? This can be a great way to borrow the money you need and repay it on the next pay period. However, not all online cash advance direct lenders are the same, and you need to be careful where you shop for loans.
Loan Fees
Most online payday lenders list their fees at the website. However, some services may charge as much as $20 or more for every $100 borrowed. When you borrow with Hot Payday, you are charged $15 for each $100. For example, if your loan amount is $300, you would need to repay $345. This is very easy to understand and you won’t pay additional fees with us.
Loan Applications
With some online cash advance direct lenders, you may need to submit a great deal of information. In fact, some companies check with the credit reporting bureaus before approving your loan. This can make it much harder to be approved. Hot Payday does not check credit records. Your credit is not an issue when you apply for money.
Contact Info
When you check out online cash advance direct lenders, you might see some services without listed phone numbers. This is not a good thing. A reputable lender lists phone numbers and fax numbers at the website. This way, you can contact them during business hours if you have questions or concerns. They also can be contacted via email.
Truth in Lending
Online cash advance direct lenders must adhere to the truth in lending laws. A trusted lender will list this information at the website. This informs you of your rights and requirements of the lender. For example, lenders must disclose all loan costs and interest rates.
Lenders must be clear and specific on all their terms and programs and they also must not discriminate when it comes to loan approvals. If you visit an online lender and do not see this information somewhere at the website, you should consider another service.
Why Use Hot Payday?
Hot Payday provides low fee payday loans for everyone that qualifies. Qualification is easy and it only takes a few minutes to apply. This can all be done from the comfort of your home. It won’t matter what kind of credit rating you have and our loan processing is very fast. Most people can get their money on the next day. Repayment is automatic as it is debited from your checking account. Plus, we always inform you before a debit is taken.
