If you want to avoid payday loan scams and get the best payday loan, you’re about to learn five easy ways to avoid loan scams…

Online cash advance loans are quick and easy to get.  But with easy money and fast cash comes risks if you’re not careful!

Are All Online Loans Scams?

Certainly not.  But because it’s easy for anyone to create a professional-looking site these days, it’s hard to tell the difference real lenders and scam artists – unless you know what to look for.

Here’s how to spot shady sites:

  1. Are They a State-Licensed Lender or Do They Break the Law?

    Loan sites must be licensed in your state to loan money.  Otherwise, they’re breaking the law.  And if they don’t care about the law, how fair do you think they’ll be with you?Most law-breaking lenders are based outside the U.S.  So not only do they do business illegally, but your information could put be at risk for identity theft.That’s why I recommend going with a state-licensed lender like PayDay One.  You can even check out all their state licenses on their site.

    Another tall-tale sign that a payday loan site is a scam is if they charge more interest than your state allows (i.e. $30+ per $100 borrowed.)

  2. Do They Hide Behind a Website?

    If you can’t find a postal address and phone number on their site, don’t borrow for them.  You need to be certain you can reach them if you ever need to, don’t you agree?

  3. Is Their Payday Loan Application Page Secure?

    You’ll know their application page is securely encrypted if you see padlock in the bottom-right-hand corner of your window (or to the right of the address bar at the top of your browser window.)If you don’t see a padlock, their application isn’t secure and any information you send (like your social security number and banking info) can be intercepted by anyone!

  4. Is Their Website Popular?

    Loan sites that get more visitors are generally more credible.  Here’s how you can see for yourself.Go to Alexa, and type in their web address in the box on the page and click “Lookup Site.”The next page will tell you their Alexa Rank – how popular they are compared to other sites.

    Anything below 1,000,000 means they’re a popular site.  If their Alexa Rank is above 1,000,000, it could be a new site or a payday loan scam.

  5. Do They Ask for a Loan Application Fee?

    Never pay an application fee to get a payday loan.  In most cases, it’s illegal and it’s probably a scam.  And, since there are enough good cash advance sites out there, you shouldn’t have to!

By looking out for these five things, you’ll avoid common loan scams.

If you want to save yourself the time and hassle of researching everything out there, I recommend PayDay One.  They’re state licensed and you may be able to get a faxless loan depending on your state.

Click here to learn more about PayDay One’s instant approval process…

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