LoanNow: Easy Application, Quick Approval!

If you accidentally crack your tooth while eating supper, you will probably be in a fair amount of pain. The pain may become even worse if you don’t have dental insurance once you get the bill from the emergency dentist or oral surgeon.  Depending on your financial circumstances, you may whip out the plastic or dip into an emergency fund. But if your cards are maxed out and your bank account is operating on fumes, your next move will probably be to borrow money to cover the bill.

But online payday loans also have a dark side. Choosing the wrong lender could be hazardous to your financial health. You frequently have no information about the lender other than what is listed on the website.  Many online payday lenders are also little more than fronts for scams or identity thieves. Fortunately, with LoanNow you can have the convenience of online payday loans, without the risk of online payday loans — or the endless cycle of debt of any payday loan.

Online Payday Loans Have a Dark Side

Especially if you have marginal credit, your options are limited. You could ask friends or family members or request a pay advance from your employer. You could make a humiliating trip to a local pawn shop or payday loan store.

By contrast, Opting for quick online loans allows you to apply in the privacy of your own home.  The online application process is available 24/7, and the documentation you need is usually right at your fingertips. No embarrassing encounters at a payday loan store, no stress on your relationships with family and friends. You don’t have to put your personal possessions on the line with a pawn shop or place your job in jeopardy by asking for an advance from your employer. You just answer a few basic questions and the money you need appears in your bank account.  It’s all good, until it isn’t.

The pain associated with repaying payday loans erases any initial sense of relief you might have felt when you received the loan. Payday loans feature extraordinarily high interest rates coupled with unrealistically short repayment periods. The combination makes it nearly impossible for most borrowers to repay their loans on time.  This sets off a financially lethal cycle of rollovers that can significantly increase the amount you owe. In fact, after just a few rollovers you could find that you owe more than your originally borrowed, even if you’ve been making payments consistently! Who needs that?

Dealing with Out-of-State Payday Lenders Can Be Tricky

Many online payday loans are issued by lenders located out of state. Out-of-state payday lenders are frequently located in states where regulations pertaining to online payday loans are lax. Doing so allows them to skirt regulations in states where laws controlling payday lenders are strict.

Native American tribes enjoy tribal sovereignty along with American citizenship, and have some latitude in creating their own laws. Some payday lenders locate their operations within the boundaries of a Native American enclave to skirt state laws that strictly regulate payday loans.

Other lenders are based in countries where laws are even less strict than in the most liberal states.  Getting online payday loans from offshore lenders leaves you pretty much on your own if disputes arise.

Repaying Online Payday Loans Puts Your Bank Account at Risk

You may run into problems with ACH withdrawals for online payday loan repayment. Unlike checks, for which you can order a stop payment, there is no easy procedure to unauthorize an ACH withdrawal from an account.  Unscrupulous payday lenders have been known to make multiple attempts to complete ACH withdrawals, despite requests from borrowers not to do so.  Banks have also been complicit, with some banks content to collect multiple NSF fees from borrowers.

Some Online Payday “Lenders” Don’t Issue Loans at All

In applying for payday loans online, borrowers are quickly encountered with the need to distinguish direct lenders from aggregators. Aggregators draw would-be borrowers to their sites with promises like “NO CREDIT CHECK” and “No one turned down!” Such claims are especially appealing to desperate applicants who have been turned down by banks or even other payday lenders.

But online aggregators are not lenders. They merely distribute your financial and personal information to third parties that may or may not be payday lenders. Borrowers who submit their information to payday aggregator websites often find their email in-boxes flooded with unsolicited “offers” from payday companies they haven’t even heard of.

Many Offshore Payday “Lenders” are Fronts for Scams

Some unscrupulous offshore lenders attempt to collect payment for phony online payday loans. They use illegal collection tactics and blatant threats to attempt to scare unwitting consumers into paying for loans they never even borrowed. If these lenders are based out of the country, they are beyond the jurisdiction of federal regulations, let alone prosecution by your state’s attorney general.

LoanNow is a Better Online Lender

With LoanNow, you can enjoy the convenience and privacy of online payday loans without the drawbacks. We’re based in California, with our contact information clearly labeled on our site. As a registered business with the Better Business Bureau, we carry an A+ rating, so you can borrow with confidence.

We process applications and distribute funds to approved borrowers quickly. Customer service assistance is available by email and phone to assist with every step of the application process. We also structure our repayments with manageable monthly installments instead of demanding payment in full in a single lump sum. And we say no to rollovers that prevent your payments from making a dent in what you owe.  The next time you’re faced with a financial emergency – think LoanNow!