May 9, 2008, 6:52 am

E Payday Loan Review

by: The Financial Blogger    Category: Reviews
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Hum… getting a pay day advance right now based on the hope that I keep my job until the next pay… This is definitely not a concept that it my mind ever. In fact, I am not even sure that we have this kind of service in Canada. Since I saw a lot of advertising on the subject on US and UK web site, I agreed to write a review on Payday Loan UK in order to go deeper in this topic.


What is E Payday Loan?

Payday Loan UK is mainly a transactional website where you can get small loan based on your next pay cheque. The design is pretty neat and it is easy to surf around. The site structure is classic; you find all the categories on the left and text on the right. This is definitely a good setup for someone who is looking for a quick and simple transaction.

What makes you want to visit this site?

When you need money right now! But wait… I’m thinking, if you can’t even live from pay check to pay check, how can you afford a computer with internet access? Am I missing something because this kind of business seems to be highly lucrative on the internet? I guess that’s because people’s priorities are sometimes upside down…And this is why some companies provide pay day advances services…

Are the resources really helpful?

The good part of this site is that you can easily find information on the process of getting a loan with the charges. The process is fairly simple; you basically send your request by email along with your pay stub by fax and you wait to get your money in your account.

You can tell it’s a risky business by looking at their interest charges. I’m glad they put them in so we don’t have to call in order to get more information. Everything is pretty much on the website and I guess that the transaction can be done within only a few minutes. This is a really good point when you are in the client’s pants and you desperately need money.

Can improvements be done?

The only thing I can think of would be in regards to fraud prevention. They clearly state that they don’t make a credit check when you apply for a loan. I guess, yet I’m not an expert, that someone could submit his file for a payday loan to many website such as this one at the same time with the same pay stub and he would get much more money at the end of the month. I wonder if there is any way to verify if the client is not doing some type of internet kitting with his pay stubs.

In the end, I am still convinced that payday loan should not become a possible financing option. However, for those who are at that point, you better off make some good research before dealing with a payday loan company. Rates and processes may vary.

Disclaimer: This was an honest but paid review. We did it because we think it is a great financial resource on the Web and our opinion has not been biased. We are now offering to review your website for a highly competitive price. If you wish The Financial Blogger to review your website, please feel free to contact us at thefinancialblogger (at) gmail (dot) com or visit our advertise section.

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