(PRWEB) June 15, 2012
As part of a continuing effort to keep consumers informed and able to engage in responsible borrowing habits, NoFaxPaydayAdvance.com has created a new article. Visitors to the site will find a new educational article called “Rates & Fees” on the company’s website. The article is part of the company’s goal to educate consumers on how a payday loan works and contains details on the application process, the way fees and rates are calculated, and the policies regarding repayment procedures and costs.
“We know consumers,” said David Hayes, a spokesperson for NoFaxPaydayAdvance.com. “We understand they are coming to us when they are in a difficult financial situation, needing money quickly and without a lot of hassle. The new educational articles we are adding to our website will help would-be borrowers feel more at ease when taking out a loan. After all, a well-educated consumer can make smarter financial decisions and make better use of their funds.”
One of the most frequently asked questions by consumers concerns the total costs of their no fax payday advance, including the individual fees and interest rates that are associated with their loan. The new article details exactly how these rates and fees are determined and provides information concerning how applicants can find out more.
NoFaxPaydayAdvance.com is not a lender; rather, it is the connecting link between online payday lenders and consumers in need of a quick loan. The loan offers are sent to the prospective borrower directly from the lenders after the initial application is approved. The consumer then has the chance to evaluate all the offers and compare rates before choosing one and accepting the loan.
The website offers small, convenient loans that are very easy to qualify for. The whole application can be completed online. No actual paperwork is ever required for the application and any signature can be applied virtually, in the form of an e-signature. Consumers only need to enter their paystub information into the form, showing that they earn at least $1,000 after taxes and that they have been at their current place of employment for at least 90 days.
Payday loans offer borrowers a chance to choose not only the offer that works best for them, but also the exact amount of the loan they need. Banks are unlikely to consider a request for a very small loan, but payday lenders can give out loans as small as $100. This helps consumers get just only as much as they need, preventing them from getting into a large debt they might have trouble repaying.