Determining which Payday Loan company to do business with can be confusing. The common misconception is that all payday loan providers are shady and ruthless. This is an unfair stereo type. I must admit that before I began my research on payday loan providers I assumed that these banks or lenders were shady characters who take advantage of the uninformed and the ill-advised.

I found that my assumption was unfair and ridiculous. The legitimate payday loan brokers and providers can really help someone in a financial jam. The fees they charge and the terms they insist on separate the good payday loan lenders from the bad payday loan lenders. We have a payday loan calculation below to help you avoid the pitfalls of rolling over a Payday loan.

During my research on payday loan providers I realized that their service can critical to millions of Americans each year. On the other hand a found out that their service can financially cripple millions of Americans each year. In this brief base page on payday loan providers I will go into a little more detail on the advantages and disadvantages of payday loan financing.  

There are two main concerns I have with payday financing. The first concern is the large fee some payday loan companies charge for their services. This is all relative of course to the amount you make for a living and how much of an advance you want. Some payday loan brokers charge a fee that is highway robbery. You need to find a lender who will front your advance without bending you over a barrel. This is why we created this cash advance information page. We have compiled a short list of payday loan providers who we feel give you the best options when in need of a cash advance. Use the links in our payday directory to browse through our recommended sites.

All through this web site you will find nothing but information regarding loans and links to loan merchant web sites. We have invested years of study in to the online loan providers and we are confident in the selections we have posted for our visitors. When it comes to a payday loan you never want to be continuously using these cash advances. They are generally expensive. There are times in my own life when I needed a cash advance and a payday loan really bailed me out. This is the essence of what these financial services are about. A payday loan should be used when there is a dire need for instant cash.

When you find yourself getting a cash advance three paydays in a row then it is a losing proposition. Big time! This is a sure sign that you need to either make more money or slow down on the spending. My choice in life was to simply make more money. Paydays should be something you can look forward to and not something you dread because all your hard earned money is already long gone down the drain. I suffered a bankruptcy myself and I now exactly what it feels like to see my paydays come and go without ever getting ahead. In fact my paydays were usually swallowed up by debt. A loan can be a good thing but too many loans will leave you in ruin. What always amazes me is how banks are willing to give people with good credit loan after loan until they have so much debt they go bankrupt. Then they are in for years of no credit rating and the struggle can be overwhelming.

I know it is not that easy to just make more money and increase your payday income. What I did was get a different job. Did some studying (and I'm not the sharpest stick in the shed) and got a better job. After that I started building web sites and then created multi streams of income. No longer did I need a payday loan or a cash advance. Of course this took time. It took a bankruptcy and a complete financial crash to realize what I had to do. Now I can look forward to a payday without feeling any anxiety.

So all I want to do is caution my visitors if they are repeatedly getting a payday loan. Be careful out there and use a payday loan only on rare occasions. All the best to you.

Payday Loan Fee Calculation

A payday loan (also known as a cash advance loan) is the most expensive form of lending agreement you can enter in to. The fees are very high, and the penalty fees are worse. You don't want to apply for a Payday loan unless you are prepared to pay back the loan in full, and on time. Never apply for a Payday loan, and plan to pay it back over the coming months. The effect of the interest and fees rolling over is expodential, and there is a good possibility you will be defaulting on payments in the future, and as result, destroying your credit rating.

With all fees included, most Payday loan companies will charge their clients (on average) and APR (annual percentage rate) of over 400%. Some Payday lenders end up charging you an APR of over 500 percent!

Here is an example of borrower with a runaway Payday loan with the lender charging a 450% APR (we'll split the difference here);

• customer owes Payday loan company a total of $3000 dollars
• all late payment fees and interest compounding (rolling over)
• borrower takes 3 years to pay back all monies to the lender

Calculation Results at APR 450 percent;

Total amount that would be paid over the three years = $23,808.59
Total resulting interest over the duration = $20,808.59

It's plain to see that a Payday loan is a ridiculous lending option if you fail to pay it back in full by the due date. Always pay them back on time - OK!

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To use our directory of over 20 reputable payday lenders you can join our newsetter to recieve the list. This grants you lifetime access to the list. We do NOT make a commission from any of these Payday loan companies. We do not recieve ANY kind of compensation from any of these payday lenders when your loan is approved. Your email is never sold or given to other groups or companies. You can unsubscribe at any time, and you will not be sent an immediate email after using the form directly below.

Fill Out an Application Form for Our Survey (USA Borrowers Only)

To use our directory of over 20 legitimate Payday loan lenders, you can complete the application form. The application must be filled out in full. We need to have the information for the purpose of a survey we are doing on payday loans. This form is very quick - about 2 minutes to fill out.

We use this information to better understand the challenges our visitors are having when it comes to getting approved for a payday loan. We never use your name, address, or occupational information when these customer surveys are done. All information is secure as well.

 

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Purchase Our Payday Lender List ($9.95) (USA Lenders Only)

This is another way to access our Payday lender list. You can download your list as soon as your payment has been successfully completed. We accept; Visa, Mastercard, American Express, or Paypal. Please note that there is no guarantee that one of these Payday loan companies on our list will approve your request for funds. We can no longer guarantee that all of our customers will get approved for the following reasons;

1.) Some purchasers/borrowers are under 19 years old.

2.) Some purchasers/borrowers are not employed.

If for any reason you are not approved for a payday loan, the WOF does not refund the fee of $9.95. The list is made from legitimate Payday lenders that do not take part in extreme predatory lending practices, however we strongly urge to read our information regarding Payday Loan fees, penalty fees, and APR calculations. Please read each companies terms of service, and most importantly the online lending agreements!