Payday Loans – in Search of Quality

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Nowadays the main share of payday loans is offered online. All the transactions are carried out via Internet and the money transfer does not presuppose any private contact between a lender and a borrower. No credit checks are involved and the approval is given within minutes and the cash is available the next morning.

Payday loans in this respect are a very popular and wide-spread service and it is not surprising taking into consideration the aforementioned advantages. One more aspect of such loans is that they are positioned as the emergency ones and are applied without much of a thought and lender check. The majority of borrowers relies on the search engine results and applies for the company that has got the best rating. Several mouse clicks and you get top 10 companies; rarely customers choose to go further and investigate whether these companies are really the way they are claim to be.

Recent researches on payday loans showed interesting facts. The idea is simple – the companies that make the top in search results appeared to be not the best ones in reality. The thing is that their Better Business Bureau records are not reliable. In fact, they are pretty bad as there are a lot of complaints. They are called unreliable and not worth dealing with when at the same time these companies have high positions in search engines.

In fact, such a research would be quite representative. Half of the companies in the search engine top ten are not exactly as good as they seem to be. In terms of BBB (the Better Business Bureau) they have got very low ratings and this is not really favorable characteristic. Some of these lenders have too many registered complaints and many companies do not even take the trouble of responding to customers.

These companies may have general complaints, but most of the time they are about the indecent lender behavior, poor service and hidden costs. There are also some other issues involved.

The main problem with the search engines is that they are still unable to sort out the good companies with both good ratings and few complaints while blocking the seemingly good ones that are in fact indecent. The thing is that search results can be successfully manipulated by various SEO specialists. The latter are very well aware of the optimization principles and know the effective ways of reaching top 10 without a necessity to prove being a leading and reliable resource.

Thus, the best recommendation for the potential borrowers of cash loans online is to make a little effort and check the company that is planned to be applied to. One more aspect that should be taken into consideration – a good payday loan company should not have any complaints registered with the BBB or Federal Trade Commission or State Attorney General. If there is any trace that the company in question has even been mentioned with the BBB, this is a bad sign and it means that probably some customers were left unsatisfied. Such a research can take a bit of time but it is some hour or two worth wasting. A beneficial payday loan option is hard to come by judging only by its position in the search engines.

 

1 Comments For This Post

  1. Tony Says:

    I couldn’t contact you via your contact form, so I thought this would have to do.
    I’m Tony, and I’ve been reading your blog for a few weeks now, and I like it!
    I’m going to cut straight to the chase – I was wondering if
    I could write a guest post on your blog about how to invest? It won’t
    be a post about my market views. I blog at A Young Investor (.com)

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