Introduction to Payday Lending Companies in New Jersey
Getting a loan can be a confusing and intimidating process but it doesn’t have to be. There are so many lending products in the marketplace today, from payday loans, home loans, personal loans, cash advances, and so much more that it can be hard to decide what’s right for you. We’ll help you understand the differences and help you pick the right lender in New Jersey.
Payday loans are quite common and can be very helpful when used correctly. A payday loan is an unsecured loan that a lender may provide based on a person’s employment history. Typically, the lender will verify that you are employed and that you receive regular paychecks. The lender will then provide you a small cash loan with payment due on your next paycheck or at a predetermined date. They are generally based on your employment history and ability to repay the loan back more than your credit score and credit history.
To give an example of how it works, imagine that your car broke down unexpectedly and you need $200 for repairs. The lender will give you $200 in cash and you will write a post-dated cheque for $225 ( the $200 loaned plus a $25 fee) which will be cashed in 14 days. Of course, these days the funds can be directly deposited into your bank account and directly paid back from your account, with your permission.
If you are in New Jersey and are looking for a payday loan we have put together a list of the 3 top rated payday loans companies in the New Jersey area.
Our Three Favorites Payday Loan Companies in New Jersey.
Payday Loan Help
This company has been in business for many years and has many satisfied customers. They have a very rare 4.9 out of 5-star ranking on Google with over 3000 reviews. They have a wide variety of product offerings and can assist people with bad credit where other companies may reject such applicants. All lenders in New Jersey perform a credit check but this company only performs a “soft” credit check and focuses primarily on how you are planning to pay the loan back. They offer guaranteed approval with online and telephone processing. Loans up to $1000 can be repaid directly by your next paycheck. They only require that you have valid USA citizenship, proof that you are over the age of 18, proof of your income, and a valid bank account.
The strive to simplify the process as much as possible and deposit the funds directly into your bank account within 24 hours of acceptance. They can do this because they issue loans for up to $1,000 with no bank verification, no hard credit checks, no third party, and no teletrack.
They offer a long list of additional benefits including, paperwork-free loans, no broker fees, instant approval, one-hour payday loans, same day cash deposits, guaranteed approval, no application fees, no hidden costs, a simple 3 step application process, and easy repayment terms. This a perfect option for people who want smaller sums of money fast and need assurances that they are dealing with a reputable company that has a long list of satisfied customers.
Maybe loans are not the largest loan company in the marketplace but they routinely get some of the highest reviews. Customers appreciate their high level of customer service and ease of use of their website. Loans can be applied for online and the process usually takes only five minutes. The website is safe and secure, easy to navigate, and simple to understand. They offer payday loans for people with poor credit or who are looking to rebuild their credit and provide 24/7 customer service. The loans range from $200 to $2500 and can be deposited in your bank account in as little as five minutes. The application process is done online and is a simple 3 step process. You will provide some basic personal information, employment information, and banking information, and if approved, they will transfer the funds directly into your account. This is a good option for people who value customer service.
This company has been in business for many years and specializes in connecting consumer with their preferred lending partners. They do a lot of the legwork for you and essentially shop around for the best rates and loan on your behalf and then refer you to the best reputable loan company.
They offer a speedy service and often connect you with your lender the next business day. They also offer a verified and secure website. This is very important as some lenders websites make false security claims and can infect your computer with viruses and make you an easy target for hackers. To ensure this doesn’t happen to you make sure the website links to the security providers certification page. They basically simplify the process making it far more convenient. It’s like having your own personal banker who understands all the options and shops around on your behalf to get you the best deal. You won’t have to visit dozens of websites, fill out dozens of forms, or stand in long lines.
Most of their lenders require you to have been employed in your current position for 90 days or more and have an approximate income of $1,000 a month. Loans start with as little as $100 and can go as high as $5,000. The funds will be deposited directly in your bank account, often as soon as the next business day. You can choose to have the loan payment taken directly from your bank account to avoid late fees or to avoid unexpected problems. This is a fantastic option for a person who wants a reputable company on their side to help navigate the waters.
Are Payday Loans Right For You?
There are many reasons payday loans might be the right option for you. Whether you want to buy a luxury expense, like new television or vacation, that is slightly out of reach, or you’ve had some unforeseen expenses like housing repairs or minor medical expenses, payday loans can be a big help. Payday loans can get you the money fast and allow you to live the lifestyle you’re accustomed to while removing much of the stress that comes with unforeseen bills. Often people could borrow the money form family or friends but prefer to use a business to avoid the tension or disputes that may arise from borrowing money from those closest to you.
However they are not recommended if you do not believe that you’ll be able to pay the loan back by the due date as interests payments can quickly balloon and lead you to a vicious cycle of paying interest instead of the principal.
In summary, payday loans are a very good way to take the stress out of unforeseen expenses and can help you budget better for large purchases or for a particular time of year, like the holidays, when you may see a rise in your expenses. It’s always a good idea to do your own research and make your decisions with as much accurate information as possible. We realize that can be a daunting task so we try to take as much as the guesswork out of the process and ensure you’re speaking to the best payday loan companies in New Jersey.
If you are in the market for a payday loan we suggest you contact one the companies listed here.