Los Angeles, CA (Vocus) July 17, 2010
Pay1Day.com speeds up its payday loan process to truly offer payday loans in 1 day because more and more Americans each day are finding themselves adapting to stay ahead of their bills in these tough economic times. But even despite best efforts to cutback extra expenses, some families are finding themselves behind on bills or facing unexpected situations that require finance. It is times such as these which many people are turning to trusted, direct online payday lenders such as Pay1day.com to help get them the finance they need, even with bad credit.
In today’s economy it is becoming increasingly difficult to find credit, especially with bad credit. And most banks and credit unions rarely offer affordable “short term” loan options. Perhaps that is one of the reasons so many people are turning to Pay1day.com for quick cash when they need it between paychecks. The Pay1day.com application is designed to be one of the fastest and easiest online applications available, since most customers have more important things to do than spend all day searching for a loan.
Pay1day.com is very proud to be one of few “direct” lenders online today. The term “direct online lender” refers to any internet lender who not only takes the application, but has an in-house finance department licensed and ready to fund the loans directly. Many of the other personal loan sites you will find online are not actually licensed lenders. These “referral” lenders simply attempt to get you to fill out their application so they can sell your information off to real lenders as a “payday loan lead”. These referral lenders are responsible for the vast majority of customer complaints against internet lending. Direct lenders, such as Pay1day.com, are licensed, regulated by the State, and are responsible for handling all loan inquiries and customer service issues themselves.
In States that have banned payday loan business from operating, the result has been anything but beneficial to either the State’s economy or lenders. A recent staff report from the Federal Reserve Bank of New York showed that borrowers actually made more complaints against lenders, after payday lending was banned. It could be because borrower’s options were limited, and perhaps they took out bigger loans when they really just needed some cash until payday. Or perhaps borrowers in these States had turned to the unlicensed referral lenders online. Either way, the desired effect of protecting consumers had arguably failed by simply banning
Pay1day.com will continue to offer consumers the option for quick, easy online payday loans even if they have bad credit. And because they are a direct lender who promotes responsible and licensed lending practices, they stand behind their services fully and offer great customer service at any point during your loan process.
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