No Fax Payday Loan Launches Responsible Borrowing Guide Borrowing responsibly is an overlooked component of the lending process. No Fax Payday Loan released tips for responsible borrowing.
CHARLOTTE, N.C., Feb. 7, 2014 /PRNewswire-iReach/ -- Surprises are often an unwelcome component of the borrowing process. From undesirable terms to undesirable loans -- yes, nearly sixty percent of borrowers regret applying for a loan without due diligence -- consumers have often given their borrowing decision a second though. Regrets, in fact, start from many student-level borrowing decisions. In fact, an article on Forbes claims that nearly a third of Millennials regret going to college itself.
http://www.nofaxpaydayloan.net/benefits.html features a special Responsible Borrowing Guide (RBG) launched by No Fax Payday Loan's internal team of loan experts. The guide walks through some basic advantages and disadvantages associated with payday loans and cautions the careless borrower with some basic, but often overlooked, caveats. Although the site focuses on providing payday loans, it urges borrowers to exercise discretion and opt for these short term personal loans only during times of emergencies, and not for frivolous expenses.
"We want our borrower pool to opt for a short term personal loan only when it is absolutely necessary and when payment terms are feasible for the borrower. Borrowing for discretionary expenses is never a good idea and could cause individuals to get derailed, at least financially," explains Samuel Dickerson, CEO and founder of http://www.nofaxpaydayloan.net/
"Their genuine concern for consumers is what really drew me to them. Convenience was second in my list of criteria. Obtaining a loan through No Fax Payday Loan was a breeze and there was plenty of support available," says Amanda, who recently borrowed a loan through Dickerson's website.
Referring to the guide, Amanda found the following tips to be extremely useful:
* Stick to true emergencies. Any form of borrowing must be undertaken while keeping in mind the dynamics of the emergency. While a Broadway Show could wait, an emergency medical expense or utility bill payment cannot. Borrowing for the former is a recipe for disaster.
* The duration is short. Payday loans are not long term loans. Generally the term of repayment is limited to the next paycheck so don't bank on obtaining a long term loan through sites such as No Fax Payday Loan.
* Consider securing the loan. The Responsible Borrowing Guide also suggests that one should secure the loan through either a post-dated personal check or by endorsing the pay check.
No Fax Payday Loan is a unique site that eliminates the need for fax paperwork for payday loans. Instead, the site's interface relies on its intuitive online technology that helps borrowers compare and shop for short term payday loans. Given the large clout of its vendor network, approvals are relatively easy and fast and a reasonably large proportion of applicants are approved almost the same day. From quick cash availability to an easy-to-use online interface, No Fax Payday has become a popular destination for most individuals in the US.
Media Contact: Samuel Dickerson, I.D.S International inc, (305) 942-8085, firstname.lastname@example.org
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SOURCE I.D.S International inc