Online Private Loans: A Discreet Alternative

People with bad credit do not always have a lot of options when they are in need of money for an unforeseen expense. Generally, those with good credit ratings will simply ask their home bank for an unsecured personal loan and they will generally end up with favorable terms and reasonable monthly payments. This is not the case for borrowers with bad credit, however. These people often need to avail the use of private loan options. Therefore, there is a need for additional services specifically designed for time when, despite bad credit, a quick personal loan is needed.

Private Loans

Strictly speaking, a private loan is any loan offered by an individual to another individual (also called peer-to-peer lending). Basically, rather than use a traditional financial institution to finance your personal loan, you can go to a friend, family member or co-worker for the money. If you have a good relationship with these people and know that they have the money you need, this is a really great option.

However, many people with bad credit do not know others with this flexibility or they are too embarrassed to ask for help in the first place. These people still have options, however, when it comes to private loans.

Discretion Is Key

If you need money for an unexpected expense, maybe car repair or a traffic ticket, finding the cash right away can be difficult. If you have bad credit, you also need to worry about your ability to acquire the cash in the first place. Maybe you do not have credit cards, or the ones that you do have already have high balances on them. This is when you need to find someone who will offer you the money without much hassle. Private loans represent such a case.

People who find themselves with extra cash and who are looking for a non-traditional investment opportunity often congregate online through lending agencies. These agencies take the investor’s money and offer it as a private personal loan to those in need of fast cash without the aggravation of strict credit standards and bank denials. The interest or fee that you pay on these loans then gets divided among the initial investor and the lending agency. You are able to get money without trouble and these investors are able to make some extra cash.

Online Private Loan Statistics

Since the degree of risk will vary from borrower to borrower, the terms of these private loans will vary as well. Generally, you can borrow as little as $100 and up to $5,000 at different interest rates and fees. Depending on the information you provide, which will include proof of identity as well as income, your interest rates on these loans can be as low as 6% or as high as 35%. Therefore, it is of the utmost importance that you get quotes and shop around before taking any money in a private loan. Be absolutely certain that you have the means to repay the lender and investor that you borrowed from.

A Good Solution

In the case when you need money and have no other means to get it, use of online private loans give bad credit borrowers a good solution to their problems. Though the terms of these loans can be rather strict and the interest rates high due to your bad credit and risk, if you have no other choice, they are a viable tool to help you in times of need.

Are Online Payday Loans Safe?

Payday loans go by many names, including cash advances, bad credit cash advance loans, payday advances, payroll advances, paycheck advances and deferred deposit loans. Whatever you call them, it can’t be argued that they’re helpful as a short term loan until the next time you get paid. When unexpected expenses pop up, like car repair costs, doctor’s bills or other fees, a cash advance can help bridge the gap between paychecks.

Many people are aware of the benefits of payday loans: they’re a fast and easy way to get the cash you need to cover life’s unexpected expenses. But does the same go for online payday loans? Is it safe to apply for an instant cash advance or loan online? Read on to learn how you can safely and securely apply for a fast payday loan online.

So is it safe to apply for online payday loans? Short answer: yes. Long answer: it depends on which company you use. Most online payday loan companies take their data security very seriously because they are invested in their company and if they become known as unreliable or unsafe they will quickly lose all of their business. There is the occasional online loan company that doesn’t take their data security seriously, however.

Here are some tips on how you can ensure your information is safe when applying for an online payday loan:

1. First check the Privacy Policy of any payday lender or broker’s website. (A payday loan broker does not make online cash advance decisions, but instead matches you with a payday advance lender based on your application.) The Privacy Policy should be written clearly and should detail the kind of information they collect and disclose whether they sell or share any personal information about you with third parties.

2. If you have any concerns about site security or the security of your personal information, talk to a customer service representative from the company. Are information databases accessible by all employees or just those with security clearances? What happens to your information after you close your account? Ask any questions you may have and based on their answers you can make your decision. Most websites also have a FAQ (Frequently Asked Questions) section that can answer many of your questions.

3. Once you are happy that the site will not sell your personal information, it’s important to check that the application page is secure as well. Whenever you’re about to transmit sensitive data online, not just for an instant payday loan but for any transaction, there are two things to look for to make sure your transmission will be secure. The first is an added letter “s” after the “http” portion of the internet address line in your browser. The second thing to look for is a yellow padlock symbol at the bottom right side of the screen. Both of these things indicate that your data will be encrypted before it is transmitted to the website, and that it is safe to send your information.

4. Last but not least, a great way to check that your data will be safe is to investigate the online payday loan lender or broker itself. Google their name online or check with the Better Business Bureau to see if they have any customer complaints against them. It’s always a good idea to see what other people like you are saying about the company you’re about to do business with.

Whether you’re ordering a pizza, buying new clothes, or applying for a cash advance online, no matter what kind of business you’re doing online, it’s important to make sure your information is secure. By using the above tips, you can ensure that your online cash advance transaction is safe.

How Easy Online Payday Loans Saved My Life!

It may be hard to believe, but easy online payday loans did in fact save my life. I'm sure there are other stories out there similar to mine, but this one is definitely an eye opener – as it shows what can happen when simply "waiting" for your next paycheck.

A few weeks ago, my car broke down and I was left without transportation. This was terrible because I, like most people, rely on my car to get to & from work. I did not have any money saved and it turned out that I needed some major work done on the car – it's the price I pay for not paying enough attention to my automobile.

I had but 2 options to choose from: hitch a ride from a friend & co-worker whom lived in the opposite direction of my job & home, OR borrow the money from somewhere and take care of the repairs immediately. Like most would do, I simply decided to wait until my next payday to take care of the repairs and have my friend cart me from & to work.

When he pulled up the first day, I was already feeling guilty, especially considering that he was going WAY out of his usual routine just to pick me up. That guilt only increased when he told me he was up an hour earlier than usual in order to pick me up. Suffice it to say, I was feeling pretty bad and decided that this was going to work out for an entire week.

That following afternoon, after I got off work, I started looking into payday cash advances and short term fast cash loans. It turned out that I could apply and have the money I needed within just a few hours. Like most, I was a bit skeptical and decided not to be "suckered" into this likely scam too quickly. Rather than just believe what I read, I did a bit of research and found out that these same day cash advances weren't scams at all and they actually help a lot of people all over the world.

In all honesty, I was blown away at how virtually anyone could apply for one of these loans within minutes – all they needed to have was a valid social security number, a checking account, and a job.

After discovering this, I started my search for a payday lender and found one in less than 10 minutes. I applied online for a loan of $ 500 and was approved in under an hour! I was then told that the money would be deposited into my checking account within a few hours and I would be able to use it that same day, if not the next morning. With this news, I called up a local car repair service and had them tow the car down to their shop and repair it. A few hours later, the car was completely repaired and I was handed a bill for $ 446.84 – which was just shy of my $ 500 loan. I wrote them a posted-dated check for the following day, thanked them for the repairs, and then I DROVE my car home.

How did this loan save my life? Well, you're about to find out …..

Just 2 days later, my friend – the one that was driving me to & from work – was killed in a horrendous, freak car accident. What happened was a huge semi truck plowed into the PASSENGER side of his compact car and he was killed instantly. Had my vehicle not been repaired, I would have been in the car with him at the time of the accident. Hence, I wouldn't be telling you this story right now.