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How You Can Effortlessly Find the Best Lender

Choosing a cash advance lender can be difficult since there are so many out there vying for your business. More than that, each one posts claims of having the best instant, quick or cheap financial relief. How do you tell the difference?

Many Americans live from paycheck to paycheck. When emergencies or unexpected financial demands present themselves, the fact is most people are unable to handle them. The consequences of spending more money than you have are drilled into most consumers from the very day they get their first bill - pay up or we'll make you sorry. How do creditors do this? There are a variety of ways, all of them tied to the various credit bureaus that are established across the country. If you miss a payment on a credit card, bounce a check, or breach a financial understanding with a lender, the easiest way for them to compell you to pay your bills is the threat of destroying your credit score. This score is what future lenders, landlords, and other sources of credit will use to determine what credit - if any - you are eligible for.

Let's say you've just gotten your paycheck, you've paid all of your bills for the month on time, and it seems as though you're set until the next pay period arrives. Then, without warning, disaster strikes - let's say your car breaks down which means you can't get to work. If you can't work, you won't get paid; if you don't get paid, you can't pay rent, which is conveniently due sooner than your next paycheck. Suddenly you're faced with a choice: fix your car, or pay your rent. You could do both if only one or the other would accept payment after your next check arrives, but unfortunately most creditors won't take that chance.

The demand for these services seemed to erupt overnight as more and more companies began to spring up in middle to lower class neighborhoods across the United States. At first the majority of the locations were owned by three or four of the major franchises, but after rumors of profitability began to circulate more competition began to appear in the form of both physical store locations and online providers. Since competition was fierce, the cost of borrowing short-term began to experience a sharp decline; this made the offerings that much more attractive to consumers and demand increased substantially. Today, there are short-term lenders virtually everywhere - and in an effort to make it easier for consumers to tell the difference between one provider and another, each storefront (or website) has to enlist the help of special offers, marketing gimmicks, or other tricks that make their business stand apart from the competition.

Consider the Lending Source Before Borrowing

Short-term lending services are the same for the most part, with very few exceptions. Even though it's standard practice within the industry to make claims about a vast array of products, the fact of the matter is most reputable companies offer the same product. It makes sense if you think about it - why would they make any particular one cheaper or faster? They don't; they simply make it easier for customers to identify with the features of a particular product in order to entice them toward purchasing that same product.

So if all the offerings are the same, why worry about choosing just one particular company at all? Well, there's one more element to the experience, and that would be the quality of the customer service provided. Imagine going into your favorite clothing store and looking for a pair of jeans... what if you needed another size? Or a fitting room? Or you wanted to know how much they were going to cost? Imagine also that this store has no customer service staff. What good are the jeans if you can't try them on or even find someone to process your order at the register?

As with most industries, this one is becoming less about the product and more about the quality of the services rendered. You should be concerned about how the company is going to treat you, and how far they're going to go to make sure that you've had the best experience possible. To test this, ask lots of questions and always ask about the total cost of the transaction. Though many (if not most) of the companies out there are legitimate and conduct themselves professionally, some may neglect to mention the total cost of a loan while they're selling it to you in order to give the illusion of an affordable offering. Don't be fooled... the only line of defense you have against these types of tactics is a keen eye and the desire for the truth about what is being offered, and any provider that's worth anything will understand.

Storefront Locations Versus Online Providers

"Brick-and-mortar" refers to the fact that lenders of this type own a physical store. Providers of this type act both as the broker (the one that finds the best deal for you) and as the bank to which you repay the amount owed. The benefits of working with this type of provider include the "in-person" interaction that some of us prefer when conducting a banking transaction, as well as taking advantage of a truly faxless application process since everything is taken care of while you're in the store. The cons of choosing this type of company include generally higher fees since it is more expensive to maintain a store than it is a website, accompanied by the inconvenience factor associated with taking the time out of your day to locate, travel to, and process an application in-person.

As the internet becomes more and more trusted with the task of processing online financial transactions, applying for financial relief is rapidly becoming the favored method for many consumers. It's important to note that the ease associated with establishing a website has also led to several different types of lenders, with the primary difference being brokers versus issuing banks. Often times the difference between the two is transparent; brokers are companies that work with several banks in order to find and offer you assistance whereas banks offer you their product without consideration of competitors' rates. These differences notwithstanding, applying for relief has obvious benefits of being available 24 hours a day, 7 days a week along with anonymity and not needing to feel embarrassed by the application process. Cons of this method are usually attributed to the lack of face to face interaction with a company representative, which is arguably taken care of via email correspondence or live internet chat features that are available on some websites.

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