With the economy the way it is today, more and more people are turning online looking for same day payday cash loans. Knowing that people are desperate, scammers especially target this industry. While there are many legit instant cash loan services online, there are equally as many illegal ones trying to scam honest people out of their money.
On a side note, one of the no fax, instant payday sites that I have found to be honest and fast is 60MinutePayday.
How to stay safe with these sites?
I do not suggest anyone to go with loan sites that require you to put up a ‘deposit’ before they give you the money. You are just asking to be scammed on this one. To my knowledge, I don’t know of any legit loan sites that require you to deposit anything. If you avoid depositing money, the only thing you risk getting stolen is your personal identity, which is a big deal but less likely to happen.
Make sure you find out the interest rates and the penalties for missing payments!
Scour the terms of service of any instant payday loan you sign up for! A lot of them like them like to sneak in some hidden clauses about rate hikes once you miss your first monthly payment.
These sites are great…sometimes too great…
Once you see the money deposited into your bank account that very day, something in your head clicks. You see how easy it was to get this cash advance even if you have bad credit. Because it is so easy and fast to get these small cash loans online, you kind of have a tendency to do it again and again. I only suggest you signup for a service like this if you absolutely need it…like if you are about to miss your house or car payment.
If you are looking for a good payday site, check out 60MinutePayday. No faxing required and really low interest rates.
