Payday loans, text message loans, telephone loans, online loans or short-term loans are different names for what is essentially the same product. Direct lender & member of the OLA - Unlike some other companies out there, My Payday Loan is not a loan broker, but a direct lender. While loan brokers work with third-party companies to issue loans, My Payday Loan handles the entire process in-house, minimizing complexity. The company is also a member of the Online Lenders Alliance (OLA), which is dedicated to transparency and excellence in short-term online lending.With many pay day loan lenders, assuming there are no hard credit checks is wrong. Each lender has their own means of evaluating a borrowers application, and this does not guarantee that some lenders do not require "hard" credit inquiries that may impact your credit score.
Payday loans are short-term, small-sum, high-rate, unsecured personal loans. Your checking account is the method of repayment of the amount borrowed and any extra fees. These types of loans may also be called cash advance loans, check advance loans, post-dated check loans, or deferred deposit loans.
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