Many consumers are often misinformed about payday lending simply because they chose to listen to hearsays and naysayers. The fact is, most naysayers continue to argue about the seemingly high annual percentage rate or APR and reduce payday loan services as predatory lending companies when in fact, the high APR only applies to the charges consumers will pay if the loan is repaid in a year.
The APR may seem high at a typical APR of 400 – 800% but keep in mind that this is only applicable if the loan is repaid in a year’s time, not per month. A faxless payday loan company offers its services to consumers who can repay their credit within 2 weeks, not a whole year!
This is just some of the many misconceptions about payday lending. A faxless payday loan company offers short-term payday loans that may come in handy if you have been routinely rejected from taking out loans from traditional sources, like banks and high street lending companies. Despite all the negativity, payday loan companies thrive because no one can doubt that it offers so much benefits and flexible terms that banks can hardly compete.
Apart from the reasonable rates, flexible terms and easy application, most payday lenders offer faxless services. This means, gone are the days when borrowers have to send pertinent documents to payday lenders through fax. Borrowers can enjoy the same benefits many lending companies offer through a trusted faxless payday loan company but without the usual hassles.
Finally, there is the case of the no credit check rule that almost all faxless payday loan company offer. If you are tired of being rejected by traditional lending companies because of your credit rating, you will discover how amazingly easy it is to apply for payday loans from faxless payday loan company even if you have poor credit. As long as you qualify for the basic requirements, your credit rating is not a factor that influences a faxless payday loan company’s decision to lend you money.
Are you tired of loan application rejection? It’s high time you start considering applying for payday loans from UK’s number one faxless payday loan company!