Times are most definitely tough for many people. If you find yourself struggling financially, and you need some extra funds this month to get those bills paid, then you may be considering taking out a short term loan.
The main benefits of short term loans is that you can get almost instant cash into your bank account, as the majority of lenders aim to send the funds within hours of your application being approved.
Also, expect to have some breathing room to pay back the loan, with a 30 day time-frame being a common repayment schedule within the short term loan industry.
The biggest problem you face is finding a legitimate short term loan lender. Sure, there are many different companies out there, but which ones can you really trust?
Improve your chances by following the tips below:
Look for reviews
Fortunately, you can improve your chances of finding a legitimate short term loan lender by looking for reviews on the internet.
There are many forums and blogs where you can find honest reviews, written by people who have had experience with lenders in the past. Needless to say, if you find many negative reviews about a company, then you are best advised to stay well away.
In this worrying age of hackers and identity thieves, you need to be 100% positive that any website you enter your details on is completely safe and secure.
For this reason, before you begin the application process for your short term loan, make sure the website you are using starts with “https” in the address bar, and also displays a little padlock which verifies the security of the webpage.
If these things are not present, then you should avoid applying with that particular short term loan lender and find a website that is more secure.
Terms and conditions
By law, every short term loan company is required to display their terms and conditions clearly on the application page. This allows you to find out more about the loan, as well as all of the fees and charges that may be applied if you were to miss a payment deadline.
When there are terms and conditions present, this is a surefire clue that the lender you are dealing with is not legitimate and may even end up ripping you off. Only conduct business with lenders who are clear and upfront about what is on offer.
Thanks to Kevin Maloney for the post