How To Choose A Payday Loan Lender

Choosing a payday loan lender seems to be a simple task, but actually it is not. Most of the people (borrowers) do not bother to search and find the best payday loan lender. This is primarily due to the fact that more than 90 percent of the borrowers need payday loan on urgent basis, and they do not have the time to look for alternates. They simply go to the lender whichever comes first on the list. Consequently, they end up paying huge fees with minimal services. Do not let this happen to you. You need to choose one of the best  payday loan lenders like www.instantcashadvanceusa.net. And how you will do that. Here are a few tips that will help you in choosing pay day loan lenders.

1. The first thing that you need to do is do not to choose a payday lender in hurry. Do not make any decision quickly. Think. Think again. Relax. Compare. Find alternates. Choose smartly. Decisions made without proper calculations and logic reasoning usually create problems for you at the end. 
2. You must choose a lender that is a registered one and is licensed lender. Almost all the lenders, that are licensed lenders have their license number on their websites. So it is not hard to locate a few licensed and registered payday lenders in your area.
3. Always deal with a lender having a proper and valid physical business address. Although you do not have nothing to do with the physical address if you are applying online. But there are many fake lenders out there who will take away your personal information and will never send you the money. So it is better to deal with a lender having valid physical office address.
4. If you need money quickly, choose a lender having quick simple application process. Almost every lender promises to process applications quickly. Every payday lender have all the detail over their website about the time they need to review the application and transfer the funds into the bank. The idea is to choose the lender having minimum application review time and who transfer the funds immediately into your bank account up on approval.
5. How can you forget about the fees and other charges? This is most important factor that need special attention. Payday loans usually have very high fees, late payment dues and other charges. Even if you repay the loan within the due date, you will still have to pay on average 20 percent of the principal. So fees are very important and you must choose a lender with minimum fee and charges. Most of the lenders do not mention their fees on their website, but you must call them to get things clear before submitting your application. Because if you will apply right away without knowing the fee and other stuff, your application might get accepted and once accepted, you will get the funds. Then there is no turning back. Do not forward your application until and unless you do not know about the fee that you will have to pay to the lender.
6. Always read the terms and privacy policy of the lender before applying. If you do not find “terms” or “privacy policy” over the website, you need to stay away from such a lender.
7. Last but not the least, make sure that your lender promises to keep your personal information secure and safe. This is important for several reasons.

The best practice is to choose top five pay day loan lenders and then compare them on your criterion. Give weight-age to each criterion (like; ease of use, approval time, fee, licensed lender etc.), and then choose the one having maximum weight-age among all.