5 tips for safe faxless payday loans

The first thing that pops into your mind when you need emergency funds is a faxless or no credit check payday loan. These loans are short term loans that are easily available online and offline from various lenders.

However as the competition is so tough, and you have so many online lenders offering payday loans at competitive terms and conditions, here are some tips for getting a safe faxless payday loan.

Never fill out numerous applications for payday loans with the intention of finding a lender who will approve you. Not only do most of these lenders charge you for their applications, once you submit your forms, they have access to your bank info no matter if your loan is approved or not.

The safest way to get a safe payday loan is to look for the CFSA logo on the site. This is a payday loan regulatory service ensures your online safety by monitoring payday loan lenders.

There are some lenders who don't directly lend you money but are instead middlemen. These lenders have a disclaimer on their homepage reading 'The owner of this website is not a lender'. Though it's okay to borrow from these middle men, you have to find out who they will be forwarding your application too, and who will be lending you your money.

You know you are dealing with a legitimate lender if they disclose their contact information upfront. So look for a physical address and contact numbers on the contact page and call the number to reconfirm its authenticity.

Last, but not least, get cash advances only if you know you can repay it on time, on your next payday. Late payments incur high penalties and late fees; and the longer you take to pay the loan, the more money you end up paying the lender.