Looking for a Real Payday Loan Site?

Many people need access to short-term loans on occasion. Perhaps you need to buy clothes before you start a new job, or maybe you have to pay for vehicle repairs so you can get to work. A lot of people have trouble getting a little extra cash when they really need it. This situation makes it important for you to know about a real payday lender that will give you short-term loans at affordable rates.

You probably know that there are plenty of payday lenders willing to let you borrow money. Some of those businesses, however, are not legitimate. Before you borrow any money, make sure your lender is legitimate. Otherwise, you could find yourself facing even more financial troubles.

How can you spot a legitimate, real payday lender?

A license to operate in your state is the most important thing to consider when looking for real payday lenders. Each state has its own laws dictating how payday lenders behave. Your state, therefore, is responsible for issuing licenses and making sure loan companies follow rules.

Licenses apply to any legitimate payday lenders that want to lend money in your state. There are plenty of online lenders, but they may not have a license to lend money where you live. LendUp only operates in states where short-term loans and alternatives are legal.

Keep in mind that you don't have to rely solely on a business's claim in order to know whether they're legitimate loan business. If you aren't certain whether a payday lender is licensed to work in your state, you can contact your attorney general's office for more information.

Why being licensed matters if you want a legitimate payday loan?

Some payday lenders try to avoid state laws by establishing themselves offshore or on tribal lands. You do not want to borrow money from a payday lender that operates without a legitimate license. Unlicensed lenders may not follow laws designed to protect you and other consumers. They may charge extremely high interest rates or impose penalties that you cannot afford to pay.

Some unlicensed lenders may even use the private information you submit in order to steal your identity. With the right information, illegitimate companies could open lines of credit in your name — and it can take years for you to fix the damage on your credit reports. It just makes sense to choose a licensed, short-term lender like the ones LendUp is partnered with.

The real benefits of payday loan alternatives

Finding a real payday lender isn't difficult. There are plenty of them online. You probably also have several that lend money in your town. Just because a lender is legitimate, however, does not necessarily mean that it is your best choice.

Using a real payday lender with a legitimate license will protect you from fraudulent, predatory practices. It's important to look beyond the license, though, to see how else you can benefit. LendUp is dedicated to more than just finding you a direct lender to borrow money. Our services could help you get out of debt and build a better financial future.