This service is not available in all states. If you request a loan in a particular state where such loans are prohibited, or in a location where WhiteRockLoans. com does not have an available lender, you will not be connected to a lender. In some cases, you may be given the option of obtaining a loan from a tribal lender.
Tribal lenders are subject to tribal and certain federal laws while being immune from state law including usury caps. If you are connected to a tribal lender, please understand that the tribal lenders rates and fees may be higher than state-licensed lenders.
Despite their speed and convenience, there are some compelling reasons to avoid payday loans. Payday loan interest rates. Although a number of payday lenders' websites come equipped with a sliding tool showing the total amount you'll repay (if personal loan for 10 000 payments be make your repayments in full and on time), to compare loans against each other you need to check the APR (annual percentage rate).
Payday loan APRs tend to be incredibly high - over 5,000 in some cases. Regulations introduced by the FCA in January 2015 cap the total interest and fees of payday loans at 100 of the original amount borrowed, but that's still a lot of unnecessary debt compared to other options.
Repayment problems. Your repayment amount and period depends on the loan you're taking out, so always read the terms and conditions carefully and make sure you're able to make the payments. Missed payment charges can rapidly stack up and leave you in even more debt.
You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.
Late Payments Hurt Your Credit Score. Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay. If you cannot make a payment on time, you should contact your lender immediately and discuss how to handle late payments. Were Committed To Service, Speed Security. Connect with a Helpful Lender. We commit to connecting you with an approved lender.