Low Cost Payday Loans

Low Cost Payday Loans

Lets just get right down to it and ask the questions - how can you get low cost payday loans? Bargaining the cost lower is out of the question - its a service, not a loan, and when was the last time you tried to bargain down your gas bill? Shopping around for different lenders is the only way to lower the cost of your payday loans, but cheap payday loans? Come on. Get real.

Getting real on low cost payday loans

The only way to find low cost payday loans is to find the lender offering them. With the Internet this search has never been easier, and you can browse literally thousands of competitive payday lenders and find out their prices, fees, and penalties for late payments. But before you go out looking forever in cyberspace to knock a few dollars off your payday advance, heres a little piece of advice - payday loans are only anywhere near cheap when you pay them off in full and on time.

The importance of being punctual

Time is of the upmost essence of payday advances. You need money fast to meet your financial obligations, the term of your loan will be shorter than two weeks (the time until your next paycheck), and your lender absolutely requires the entire loan balance repaid in full at the agreed upon date or they will charge you extra - and by extra that means $15 dollars for every $100 initially borrowed. even if you pay off $95 of your loan balance, that $5 left over will cost you an additional $15 for the two week extension, and if you paid $195 of a $200 advance you will be charged $30 for that $5 left over. its a bum rap, but hey, these lenders do what they please - their regulations are minimal, their control almost zero, and they have so much money they can buy off anyone standing in their way (yes, that includes government officials). So the secret to finding low cost payday loans isn't in finding the lowest initial fee, but in repaying your loan on time and borrowing from a lender who will not fool you into paying more than you owe.

Payday lenders can be slippery little buggers

A common trick of the payday trade is for lenders to pull their funds out of your account before the agreed upon date - or hours before your paycheck is deposited. What this does - the lender hopes - is send your account into negative balance, meaning the lender is pissed because he still needs his cash, the bank is pissed because you've over drawn, and you're pissed because

1. you've been had by a crook, and
2. you need to pay overdraft fees, roll-over fees for your payday advance, and are still responsible fro the loan principle.

Tricky indeed, but there really isn't anything you can do against this but change your search for mythical low fee payday loans into a search for an honest payday lender who won't work for your financial ruin. Buena suerte amigos.

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