WHAT CAN I EXPECT FROM THE TYPICAL ONLINE PAYDAY LOAN PROCESS?
The world of online installment loans texas can be an intimidating and controversial one for consumers. With all of the negative hype and confusing misconceptions circulating, consumers often don’t know whether an online payday loan is the right financial alternative for them and their situation.
The truth is that an online payday loan might just be the answer you’re looking for! At the very least, the option of a payday loan is always something worth looking into, especially if you find yourself in need of immediate financial relief.
This article is intended to clear up some of the confusion and illustrate the typical payday loan process. Obviously, different companies will have different ways of conducting business.
In no way does this article represent the full and exact process for each and every payday loan company that you find online. It is only intended as a general guide for the process and what you can expect from a typical, respectable payday loan company.
Always fully research any company you plan to do business with prior to completing any transactions.
WHERE DO I GO?
First you will need to access the payday loan website. Typically, there are two kinds of payday loan sites on the internet.
- A Payday Loan Lead Site.
o Normally a customer will search for a payday loan site and come across a “Lead Site” thinking it is a payday loan company. “Lead sites” are hosted by companies whose main goal is to gather information from several potential customers, and then sell that information to companies that will further review it and potentially lend you the funds you are requesting. Lead sites are normally identified because they do not have a member log-in section on their homepage. Also look for a disclaimer somewhere on the website which states that their main purpose is to generate name leads for financial loan companies.
- A Genuine Payday Loan Company Website
o You can usually recognize genuine online payday loan sites by searching for a member’s log-in area. These sites are direct lenders for customers who apply for a loan via the company’s website. These companies are responsible for processing the applications in-house and depositing the funds into customer accounts once the loan is approved.