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A few reviews of the payday loan companies I have seen

I have been involved in the payday loan industry since about 2003. At first I was more involved in marketing, but now I have started to post some articles for people around the United States to review and really consider. The product is always growing so a little diligence on my behalf is not going to put a hole in any of the huge companies that are lending for these types of loans. In March of 2003, when I started there were a few companies online providing payday loans. Maybe a few hundred or so that I saw, now two years, the amount of payday loan companies, lenders, and especially websites has grown by huge numbers. No longer is there a company or marketing partner for that company having 1 or 2 websites, some of these companies have hundreds of cash advance websites online to grab anyone on the Internet that is looking to get a payday loan online. The reason payday loans have gone so mainstream online is because of the advent of the faxless payday advance, people go online fill out a form and then they get a loan from $200-$1000 (some are even $1500) the next day. The usual process is they get a phone call to confirm their information and the lender may do a reference check, otherwise they are good to go. No paperwork, no signing anything just gets the loan online right away. Now this sounds good, but it really makes payday loans even more convenient which means that people are going to get loans when they otherwise would not because they would need to get paperwork together to get it done. On the other hand, it does help with people who need the money the next day. For example, take a look at the story below to get an idea of what I mean. We will use the name Quik, because I think that is a funny name to use.

Quik drops off his car at the shop to get a quick oil change; his friend at work picks him up and takes him to work. A few hours later he gets a phone call from his mechanic saying something his car is about to bust and if he does not fix it now its going to cost more than his car is worth. So Quik says ok fix the car, but how much is it going to be. Mechanic says to fix your car it will cost $350 and the oil change is another $30. I can have your car done tomorrow afternoon. SO Quik says ok you can fix the car, and the search for a cash loan begins. Quik ask his family members and gets $100 of the $380 he needs total. So now he needs $280 that he will not have till next Thursday when he gets paid. The mechanic will not release the car until he gets the full payment and if he leaves the car repaired for more than 2 days, he will be charge $30 a day for keeping the car there. So Quik exhausts all his lending options and immediately goes online looking for a payday loan. Now prior to faxless payday loans he would have to apply online for a payday loan, then he would have to go home get a pay stub and some other paperwork. He would then have to fax in some documents wait for a phone call and then have to sign some paperwork. That is a lot of time and his boss is not going to be happy with him taking that much time out of his day to get something done non-work related. But with a faxless cash loan, he goes online completes the form and then gets a phone call usually within an hour. The person on the other end confirms his information, tells him how much he can get and that's it. Quik gets his cash quick like he wants, and he has it the next day. That is a lot easier than going home and getting documents; it also saves him a lot of time and stress. Now you see how faxless payday loans make it easy to get cash you need for an emergency like auto repairs.





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