4 Tips to Free or Low Payday Loan Interest

You may already know that a payday loan could save your emergency needs of money. It could be a big help for you. However, payday loan has one biggest drawback, the payday loan fee. As you may already know, the payday loan fee is counted weekly and it could go as high as 400% in APR.

Luckily, there are some solutions to this problem. You can get a payday loan with free or low interest. Below are some of the tricks for you to get this kind of payday loan.

1. Search a free for first time loan
You may not believe this, but there are some lenders who offer free interest for first time loan. It may seem strange. Perhaps this is mainly because of the competition between payday loan lenders. There are so many payday loan lenders out there that they may need to offer something that attracts you. Lucky for you, it´s the free interest for your first payday loan with that lender.

2. Borrow the payday loan late
Payday loan interest is charged weekly. The longer you have the money and do not repay it, the higher the interest you have to pay. With this in mind, you should take a payday loan only when you really need the money. Directly after you get the loan, you should use it. Don´t let the money sit around for days or even weeks. You have to pay the interest while the money from the payday loan does you nothing good.

3. Borrow the payday loan less
This is mainly because the interest of payday loan is high. You should always try to borrow as small as possible. Take the payday loan only for your dire needs. By doing this, you could save hundreds of dollars by borrowing $300 - $400 less.

4. Shop around
This is of course the thing that you should do when you want to take a payday loan. Shop around for lenders who have the smallest interest. Don´t forget to ask them what the hidden fees are. You don´t want to be surprised later on, do you?

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Disclaimer:
The general information provided by http://PaydayLoanTips.blogspot.com is intended as an educational purpose only, and should not be interpreted as legal advice. The law varies drastically by location and legal specialty, and http://PaydapLoanTips.blogspot.com makes no promises about the accuracy or completeness of the information provided. You should not rely on our information when making legal decisions. We recommend that you consult with a lawyer to get professional legal advice on how best to deal with your situation.
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Payday Loan Qualifications

Because of the simple nature, payday loan has a little bit different qualifications compared to other loans. Your bad credit rating won´t affect too much to your borrowing power. In some companies, your bad credit rating does not even affect the qualification of your loan. So, what kind of qualifications that you must pay attention to when you need to apply for a payday loan?

Established Regular Income
Most payday loan companies require you to have a job for at least 2 months. Monthly check from social security or pension fund is also acceptable. Payday loan companies will normally ask your minimum income to be $800 - $1,200 minimum before you are qualified for the loan.

Established Checking Account
Payday loan companies require you to have a checking account. The checking account is used to clarify your financial situation. Your money, if your payday loan is approved, will also be transferred to this checking account. Some companies require your checking account must be at least 4 months old to qualify for a loan.

Minimum Age
The minimum age to apply for a payday loan is 18 years old. Kids below that age can not even have their parents to co-sign with them. Since one of the qualifications to open a checking account is to be at least 18 years old, an established checking account reported to the payday loan companies is also used to clarify that you are 18 years old.

Personal Information
Personal information such as name, address, and phone numbers are required in order to apply for a payday loan.

Additional Information
Some payday loan companies require more information. For instance, if you are a temporary or a freelance worker, you are not qualified for a payday loan in some companies. Some payday loan companies do not allow you to have another payday loan with another company. To be sure with this kind of qualification, you should confirm with the company directly.

Loan Amounts
Loan amounts and the repayment schedules are regulated differently state by state. It is best for you to check with your state laws.

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Disclaimer:
The general information provided by http://PaydayLoanTips.blogspot.com is intended as an educational purpose only, and should not be interpreted as legal advice. The law varies drastically by location and legal specialty, and http://PaydapLoanTips.blogspot.com makes no promises about the accuracy or completeness of the information provided. You should not rely on our information when making legal decisions. We recommend that you consult with a lawyer to get professional legal advice on how best to deal with your situation.
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** Attn Ezine editors / Site owners **
Feel free to reprint this article in its entirety in your ezine, blog, autoresponder, or on your site so long as you put a link back to this original post, leave all links in place, and do not modify the content in anyway.
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Read This First When You Apply Payday Loan

Are you planning to get a payday loan? Have you shopped around? Do you really think you will not get any surprises?

Well, even though you have shopped around and do all kind of analysis there are several things for you to consider when you want to get a payday loan. By considering these things, you prepare yourself to expect the unexpected. You might save yourself a bunch of cash. Below are several things you have to consider before you shop around for a payday loan.

1. Do you really need a payday loan?
I know you need the money. However, do you really need to have a payday loan? There are several ways for you to get similar amount of money without taking any payday loan. Call your families and explain your situation to them. Sometimes, you even do not need to pay it back. Hey! They are your families. Ask your boss whether you can get a part of your paycheck in advance. This is more likely to be done, when you know the boss in person. Ask help from your credit union or any organization that you are involved with. Don´t forget that you also have friends you can ask for help.

2. Borrow the amount you can pay.
This might seem obvious, but most people who take payday loan borrow money for the amount that they want to. You need to borrow the amount you can pay, not you want. If you later on can not pay the loan, you are faced with two problems. The first is the excessive fees of the payday loan. If you roll over the loan you may be charged several fees such as roll over fee, lateness fee, and other fees that will soon piling up. If you are not careful, you may be trapped in this fierce payday loan debt. Secondly, you will have a bad payday loan rating. Although this is quite different from your normal credit rating, many payday loan lenders record your behavior and share it.

3. Apply a payday loan one at a time.
This is also because your record is shared between lenders. If they see that you apply to multiple lenders, they may think you are one of the scammers and reject all of your application.

4. Do not select lender with strict criteria
Again, this is because your record is shared in consumer tracking database. Different lenders have different criteria. If you are rejected by lender with strict criteria, you may also get rejected when you later apply to lender with more relaxed criteria.

Those are four things that you need to pay attention to when you want to shop around for payday loan. What is next? Read our guide on how to shop around for payday loan.

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Disclaimer:
The general information provided by http://PaydayLoanTips.blogspot.com is intended as an educational purpose only, and should not be interpreted as legal advice. The law varies drastically by location and legal specialty, and http://PaydapLoanTips.blogspot.com makes no promises about the accuracy or completeness of the information provided. You should not rely on our information when making legal decisions. We recommend that you consult with a lawyer to get professional legal advice on how best to deal with your situation.
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** Attn Ezine editors / Site owners **
Feel free to reprint this article in its entirety in your ezine, blog, autoresponder, or on your site so long as you put a link back to this original post, leave all links in place, and do not modify the content in anyway.
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Shopping For Payday Loan Online

Time to time, place to place, people told you to shop around if you want to purchase something. This is also true for taking a payday loan. Because of the simplicity nature of a payday loan, you will find no problem in choosing the best payday loan for you. If you have no idea what to compare, then this guide might be able to help you through.

Comparing payday loans head to head using internet is the best way to shop. There is nothing easier than browsing through several companies´ websites and compare them. If you would like to take an offline payday loan, the comparing process would be the same. Here are the things that you may want to compare.

Payday Loan Rates
This is of course the first thing you have to compare. Like any other loans, payday loan interest rate is measured by Annual Percentage Rate (APR). Just compare the APR from company to company. If they don´t list it, ask it.

Payday Loan Fees
Like any other loans, payday loan also has some fees. Some companies apply one flat fee. Others charge the fee based on variable. What ever the case, you should ask the exact number of the total fee you have to pay. Don´t bother yourself counting the variables. Ask the exact amount.

Payday Loan Terms
Ideally you are able to pay the loan with your next payday. However, bad things can happen at a bad time. To prevent your financial situation getting worst, you should compare the terms of payment. What if you can´t pay at the agreed time? What is the penalty for being late in payment?

Good Customer Service
Try to contact the customer service using several media. Don´t just email them. Try to call or fax them. Good customer service is one of the indications that the company is trustable. After all, you should know who you can ask, when you have problem with your payday loan.

Easy Payday Loan Process
Current technologies have made things more efficient and faster. If you apply for a non fax payday loan, you could expect to be approved in several minutes and the fund will be ready in your bank the next day. If the process is too complicated and taking a very long time, you should be careful and might start choosing another company.

Trustable Payday Loan Company
Trustable payday loan company is not hard to find. Try to ask around, ask your friends or families. Ask their experience with a certain payday loan company and consider their suggestions. If you are in a dead end, borrow money only from licensed lender.

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Disclaimer:
The general information provided by http://PaydayLoanTips.blogspot.com is intended as an educational purpose only, and should not be interpreted as legal advice. The law varies drastically by location and legal specialty, and http://PaydapLoanTips.blogspot.com makes no promises about the accuracy or completeness of the information provided. You should not rely on our information when making legal decisions. We recommend that you consult with a lawyer to get professional legal advice on how best to deal with your situation.
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** Attn Ezine editors / Site owners **
Feel free to reprint this article in its entirety in your ezine, blog, autoresponder, or on your site so long as you put a link back to this original post, leave all links in place, and do not modify the content in anyway.
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Payday Loan Terms

Although payday loan takes account the same terminologies as any other loans, new comer will find it quite overwhelming. If this is your case, don´t worry. Below you will find some common payday loan terminologies.

Annual Percentage Rate (APR)
This is the amount of the interest rate you have to pay for the loan.

Payday Loan
A short term loan, normally less than a month, that enables you to loan money and pay it with your next paycheck.

Payday Loan Online
A payday loan transaction that is done on the internet

Loan Fees / Finance Charges
Additional fees that is charged on your payday loan. Some companies combine the interest rate and loan fees into one.

No Fax Payday Loan
A payday loan in which you are not required to fax your documents such as bank record, paycheck, etc.

Amount Financed / Total Payment Due Lender
This is the amount you borrowed plus the interest and any additional cost. For example if you borrow $100 and the interest is $10 with no other fees, then the amount financed is $110.

Secured loan
This is loan that has some sort of collateral that the lender can claim ownership if the borrower fail to pay the loan.

Unsecured loan
This is a loan that has no collateral at all. The lender puts full trust to the borrower that he/she may pay the loan according to the terms.

Roll Over
This means that a loan is extended, or more precisely refinanced, for a new term.

Licensed Lender
Licensed lender is just that. The lender is licensed to lend money out. As a precaution, always take payday loan from a licensed lender.

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Disclaimer:
The general information provided by http://PaydayLoanTips.blogspot.com is intended as an educational purpose only, and should not be interpreted as legal advice. The law varies drastically by location and legal specialty, and http://PaydapLoanTips.blogspot.com makes no promises about the accuracy or completeness of the information provided. You should not rely on our information when making legal decisions. We recommend that you consult with a lawyer to get professional legal advice on how best to deal with your situation.
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** Attn Ezine editors / Site owners **
Feel free to reprint this article in its entirety in your ezine, blog, autoresponder, or on your site so long as you put a link back to this original post, leave all links in place, and do not modify the content in anyway.
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3 Reasons To Use No Fax Payday Loan

While shopping around for a payday loan, you will stumble across some companies offer no fax payday loan. No fax payday loan is quite convenient and comfortable to use for some people. No fax means you do not have to fax the legal documents like your bank record, paycheck, or other documents.

Applying for a no fax payday loan has 3 benefits that you can have. Below are the 3 benefits.

1. Speed of Application
With no fax payday loan, you will only have to answer some questions. The process is like answering a questionnaire. You don´t need to gather all the necessary documents, make sure they are the latest documents, and fax them through. The process could be quite a hassle for some people. Thus, with no fax payday loan you do not need to go through the hassle.

2. Speed of Approval
With no fax payday loan, your application does not need a human to check through. There is no need to wait for business hours so that an employee of the payday loan company can check the validity of your documents such as bank record and paycheck. When you data are matched with the company database your application is approved instantly. In some payday loan company, your application can be approved in a matter of seconds instead of hours.

3. Easy to Use
With the nature of instant approval of the no fax payday loan, you can match your financial needs as you wish. You can apply at Saturday night and have your payday loan approved almost instantly. It gives you more flexibility in fulfilling your financial needs.

Although no fax payday loan is very convenient to apply, you have to be careful. Always apply to a respectable payday loan company. And, do not forget to control yourself so that you do not borrow unnecessarily.

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Disclaimer:
The general information provided by http://PaydayLoanTips.blogspot.com is intended as an educational purpose only, and should not be interpreted as legal advice. The law varies drastically by location and legal specialty, and http:// PaydapLoanTips.blogspot.com makes no promises about the accuracy or completeness of the information provided. You should not rely on our information when making legal decisions. We recommend that you consult with a lawyer to get professional legal advice on how best to deal with your situation.
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** Attn Ezine editors / Site owners **
Feel free to reprint this article in its entirety in your ezine, blog, autoresponder, or on your site so long as you put a link back to this original post, leave all links in place, and do not modify the content in anyway.
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