Direct Payday Lenders Are Very Convenient
Direct payday lenders do get connected to the borrowers directly. There is no intervention from the brokers side and hence the rate of interest is quite lower as compared to other payday loans. Since these are short term unsecured loans, the loan amount may vary from $100 to $1500 which stretches over a period of a few weeks to a month. The same has to be repaid within 14 days to 21 days or at the time specified by the lender, to avoid late fees. The loan amount required by the customer reaches their bank account without any hassles and in a very short time. This is possible due to the reason that there is no major background checking or credit checking for the lender to approve loans to borrowers. These lenders do deposit the cash into the checking account of the borrower without receiving any major paper work. There are some lenders who would offer options in the repayment pattern.