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What are the advantages of a payday loan?

Quick

One of the main advantages of a payday loan is the speed. you can get the money on your account on the same day you applied for it. This will really help you out if you have got short term cash problems and need the money urgently.

Simple

It takes only a few minutes to apply for a payday loan you don't have to worry about posting or faxing the documents to PDLenderz. So the application process is as easy as it could be.

Poor credit history

Payday loans are still available for you even if you have a poor credit history. Payday loan providers don't make their decision to lend you the money based just on your credit history. After filling the application criteria you have already got a good chance to get a payday loan. In the present financial situation most of the lenders are reluctant to provide loans especially if a person has got a poor credit history. This way a payday loan may become the only possible way to get a credit for many people.

Use of the loan money

Another advantage of a payday loan is that you can use the money for whatever you want. You don't have to tell the payday loan company what you need the money for. You might have an emergency and need money urgently, it can be an emergency medical treatment or a romantic weekend away, it can be urgent dental treatment or extra money on holiday. If you can't wait till the payday use the opportunity to get a payday loan. It will turn out to be a good choice provided you make the repayment due on the repayment date.

No upfront costs

There is no advance fees related to a payday loan. You don't have to make any repayments until the repayment day that you have chosen and agreed to in the loan agreement.

Regulation of payday loan companies

Good and properly regulated payday loan companies must follow strict laws that control the finance industry.

It is always recommended to check that the company you are applying for is properly regulated. Loan company offering you the loan should show its Consumer Credit License number within its loan conditions and it should be authorized by the Office of Fair Trading. Whenever you have doubts whether loan company you are going to apply to is fully and properly regulated you can contact either of these bodies and ask for information.

In case you have any complaints a properly regulated loan company will be a recognized body to make any complaints. That guarantees that you will never be subject to any unfair practices.