Many people have the erroneous impression that payday loans are not totally legitimate
(PRWEB) August 05, 2012
Low Cost Payday Loan is adding a new informational article called “About Us” to its website in an effort to help educate would-be borrowers about the ins and outs of payday loans, as well as their various benefits. The article explains the safety of taking a loan through Low Cost Payday Loan; the convenience and speed of its online service; the customized research tools that it offers; and the competitive loan rates, fees and terms available through the many lenders that are affiliated with the company.
“Many people have the erroneous impression that payday loans are not totally legitimate,” says Low Cost Payday Loan spokesperson Kyle Rice. “We want to clear up this misconception by providing consumers with a variety of educational materials that explain how these loans work and what their many benefits are. Payday loans are quick, easy to obtain and highly convenient, making them a good choice for those in a difficult financial spot.”
The new article offers consumers a chance to better understand the importance of going with a reputable company such as Low Cost Payday Loan when applying for a fast financial help. It notes that aside from offering protection against identity theft and data collection, a reputable payday loan company should also offer customized research tools to allow consumers to fairly compare different lenders. Taking out a payday loan can be a simple and quick process if the correct information is available for people to understand their choices and rights.
Low Cost Payday Loan functions as a lending network, and therefore it does not offer loans directly but instead connects borrowers to lenders via a simple application process. Payday loans offered by these lenders come with competitive interest rates, fees and terms. Consumers who are worried about loan fees can benefit from going through a lender network, as doing so provides them with more opportunities and freedom when it comes to choosing the right offer.
Once an applicant has been approved for a loan and then selected a particular offer that looks interesting, they have access to all details about it before they sign or agree to anything. All lenders working with Low Cost Payday Loan have agreed to full disclosure of their fees and policies during the lending process to ensure that the consumer gets the best possible deal. Because no loan is final until a contract is signed, a would-be borrower is able to change their mind regarding the transaction up until the last possible second. Additionally, because consumers going through the site’s completely online lending process don’t have to deal with any pressure from face-to-face interaction, they can make decisions at their own pace.