Payday Solutions Launches New ?How It Works? Feature
Payday Solutions Launches New “How It Works” Feature
(PRWEB) February 04, 2012
PaydaySolutions.com announces the launch of their new “How It Works” page — an online resource specifically designed for consumers who would like to learn more about the payday loan process, from application, to funding, and on through repayment. The new page draws upon the company’s expertise in the area of short-term loans to better inform would-be borrowers.
“We want people who enter into a payday loan, or cash advance, to do so with their eyes open,” said company spokesperson Julia McGee. “There’s no advantage to having an uninformed customer, and the updated site makes it easier than ever for borrowers to find all the information they need in one convenient location.”
People in need of payday solutions previously had limited options for gaining access to fast cash when urgent expenses caught them between paychecks. They could borrow from friends or relatives, pawn their valuables, or borrow from a shady lender who might make their problems worse. With their comprehensive consumer-lending site, PaydaySolutions.com hopes to become a reliable, friendly resource for households in need of temporary relief from overstretched budgets.
PaydaySolutions.com is not a lender; rather, the company’s website serves as a bridge between prospective borrowers and a proprietary network of pre-screened lenders who are willing to lend to consumers who may have flawed credit or not meet approval requirements for a bank loan or credit card. In contrast to traditional lenders, the site’s online application requires only that a borrower:
Be at least 18 years old.
Earn at least $ 1,000/mo. after taxes.
Have a checking account in your name.
Provide a valid email address and phone number(s).
Be a U.S. citizen or permanent resident.
The number of applications for payday loans nationwide now reaches into the millions every year, as some working people find themselves shut out of traditional credit markets, or unwilling to take on more long-term debt through credit cards.
Payday loans are typically repaid on the borrower’s next payday, usually in two weeks or within 30 days. Though these kinds of loans incur higher interest rates and fees, most borrowers find the speed and convenience of being able to receive cash direct-deposited into their bank account with one business day to be worth the extra charge.
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