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Getting a payday loan is easy, fast, and convenient because you can find countless payday loan lenders whether online or announced in your local newspapers. However, you must be aware that not all those advertisements you read are actually licensed payday lenders, but companies that gather for you the best deals at the cost of a commission that you may end up paying to them. While it is also possible to find some scams with the only goal to steal your money, so keep the following advice in mind.

What Are Direct Payday Lenders?

As the name suggests, a direct payday lender is a payday lending company from where you can get a payday loan. A direct lender may have brokers or agents that work inside the company, but not as a middleman between you and the lending company, which means that regardless to whom you are dealing with, there is no additional expressed or veiled commissions when you borrow money, as they directly lend you the amount that you request.

Save Money with Direct Payday Lenders

The main advantage to get your payday loan from a direct payday lender is that you only pay the interest rates and financial fees that are stipulated by your payday loan agreement or contract. There are no hidden fees, no extra commissions or money to pay for additional services, just money in you bank account sent from a direct payday lender.

A Direct Payday Lender is Your Best Guarantee

Because payday loans are seldom times the source of scams, applying for a payday loan with a direct payday lender saves you from the risk of being ripped off by unscrupulous lenders or having your personal information compromised. Direct payday lending companies respect, protect your privacy and guarantee you honest deals.

More to Know on this Topic

The difference between a legit direct payday lender and a third-party company is that the latter will try to sell you the payday loan no matter how. They may offer to lend you more than what your state allows, by being the middleman between you and a lending company in another state, or will change their offer if the first they give you is not what you can afford. This is because they can simply switch to another company on their list, but in all instances, you may end up paying more for the service than if you would have negotiated with a direct payday lender.

The main reason to work directly with payday lenders is that you will never have to worry about hidden fees that are associated with payday lenders that are nothing more than brokers. All of these lending brokers work on a commission basis which will be added to the amount of your payday loan.

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