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If you're finding yourself in a financial bind and need money fast then sometimes your only option is to apply for a payday loan. Knowing which one to use can potentially wind up having a big part in determining how much money you will have to repay once the loan is due.
The first thing anyone should do when researching a payday loan lender is finding out if they are licensed by your state. If they are not then you should be wary of filing an application for a loan with them.
Next you will need to ask whatever loan officer you're working with exactly how many fees and extra costs are associated with the loan and also make sure that is in writing. You should know exactly how much your loan is going to cost before you sign on the dotted line. If the loan officer refuses to inform you of that or is making it very difficult for you to understand then you may want to rethink doing business with them.
You should also ask if your payday lender if your personal information is protected of it they will be selling your information to third party sources. Many lenders sell their customers contact and other information to other sources as a means to prop up their bottom line.
There's no "right" answer when it comes to payday loans because each state has their own rules and regulations, but these few simple tips could help regardless of what state you live in.