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You can observe the intensification of companies in recent months, which offer "payday advance loans". Their advertising heavily is decorated on subway cars, street poles; special "information" stands in the courtyards of houses, on their banners constantly and come across on the Internet. At the same time names of the companies are unfamiliar.
As it has appeared, at the address to them it is necessary to be extremely attentive. The set of quite normal credit companies works at the market. But quite often under the sign "payday advance loans" it is possible to meet also frank swindlers.
All financial services, declaring "payday advance loan" offer exactly that promise. Small amounts - from half to 10 thousand, although the most typical proposal is even less - about 5 thousand dollars. Timing is usually from 7 days to a maximum of months.
Concerning the sum of the credit it is necessary to pay attention to one more important factor: most of operators will offer the client who applies for the loan for the first time the sum within 1-2 thousand dollars. It will increase as you take new loans and regularly to repay them. For the time-tested and perfectly repayment of loans customers, these limits can reach 10-15 thousand.
Procedure of receiving and registration is extremely simple. From application to which the passport is attached before delivery of money passes really about half an hour. The majority of such companies declare making decision on issuance of credit or refusal literally in 20 minutes.
Work of the main players of the market is rather technological, frequent there is even no need to look for or visit office. The application and the data can be submitted through a special form on the website, and already in a few minutes you will be called back by polite call-center managers and will report result.
The overpayment on such blitz credit counted in the standard "annual interest rates" which are able to shock the person even with very developed imagination — from 400% to 1000% per annum. But in this lies the specifics of these loans is: it is a little money for small term.
For example, under average market conditions on such service, having lent for a one week or two 1500 dollars, you will return to the creditor 1750 dollars — quite acceptable "payment for urgency". Therefore such terms for crediting are quite comparable to familiar for a long time pawn crediting. A basic difference between a pawnshop and "payday advance loans" — is lack of pledge.