When you are in financial troubles, it can be a very scary time for you and your family, and lenders like Fax Free Cash will try to make it easy to get fast money. When times are tough it makes it very hard to get ahead. Unexpected expenses can sometimes be our downfall if we are in one of these situations and are landed with a big expense that we did not plan to have to pay, such as medical expenses, car repairs or high utility bills.
A little extra cash in your pocket can sometimes be all you need to make it through to the next payday. Fax Free Cash offers payday loans in order to help you make it through these tough times.
Payday loans are appealing because of the short amount of time that it takes for the cash to be deposited into your account. The money is given in small amounts and can be paid back in a short amount of time, meaning that it is theoretically a loan with a small commitment. Payday loans can be dangerous though if you are in serious financial straights.
The vigorous payback schedules that they put you on can often leave you in a deeper financial hole than you were in before the loan because they are so difficult to pay back on time. However, if a payday loan is your only option, Fax Free Cash has many appealing ways to help you.
Review of Fax Free Cash
Fax Free Cash gets its customers small advances of cash with high interest rates to be paid back in a short amount of time by searching over 150 lenders and matching you with, in their opinion, the best lender for you to get a loan from. They are not transparent in their requirements of lenders, leading one to believe that they may just end up matching you with the lender that will pay them the most amount of money in the long run.
Their process is very simple. You fill out their online application and they match you with a lender in 90 seconds. One you have been approved for a loan from that lender, the money will be transferred into your account as early as the next business day, with some lenders giving you money as early as that day or that hour. After you apply of Fax Free Cash, you are redirected to the website of the lender that you will actually borrow from and then follow their process.
Should You Do It?
Fax Free Cash is not a scam site, contrary to popular belief. They guarantee the security of you personal data, which you have to give them in order to apply for the loan. They will ask you questions about your bank account numbers and contact information as well as citizen status. After you have given them all of this information, you sign a contract with an e-signature, which is just as binding as a normal pen and paper signature.
There is no paperwork when you apply for a loan through Fax Free Cash, making the process more instant and getting you your money much faster. On top of this, you do get the benefit of not having to do the legwork yourself in finding the best loan, however, they do not show you all your options, they just simply direct you to the loan site they have chosen for you. They also do not tell you why they chose this provider for you, leaving them open to simply choose a loaner who will pay them the highest fee.
When you apply at Fax Free Cash, you pay them a finder’s fee of $25. This is for the legwork of finding you the loaner that you will eventually borrow your money from. This fee of $25 dollars is average for businesses like Fax Free Cash that search lenders of payday loans.
The actual rates that you will pay once you get your loan depend on the payday company that you are matched with. When you get a payday loan, you will generally be paying a higher rate than you would if you borrowed money from a bank. On average, payday loans run at $25 for every $100 that you spend. They also need to be paid back by your next paycheck.
Without applying through Fax Free cash, there is no guarantee of was fees or rates that you will eventually receive. They only guarantee you the lowest rate that you qualify for, not the lowest rate that they can find. However, since they don’t tell you how they search for your lenders, you don’t know for sure that you don’t qualify for a lower rated loan.
Who Can Get a Loan?
There are no general requirements for Fax Free Cash to actually look for a loan for you, but there re requirement once you actually get to the lender’s website. Generally you have to be a citizen of the Unites States who is 18 years of age. You also have to reside in one of the states that the company serves, because they do not serve all of them. You cannot take out loans in someone else’s name.
You need to have steady source of income either from a job or some sort of government assistance. You also have to be able to prove the existence of this steady pay. You need to have a working checking account that has been clean for about 30 days. If you meet these requirements you will generally receive a loan, although the requirements differ from loaner to loaner.
The services that Fax Free Cash offers are unnecessary and will end up costing you more money than you need to in the end. If you are in the market for a payday loan, I suggest just doing the research yourself instead of spending a whopping $25 dollars for Fax Free Cash to do it for you. This way, you can be sure that you are borrowing at the lowest rate that you qualify for and you can save the pocket money that you would otherwise given to them.
Payday loans in general are dangerous because of the high interest rates and the speed at which you have to pay them back. The payments plans are very hard to keep up with, and if you really are in a financial bind then you will most likely default on your loan and end up paying them more, causing you more financial strife. Make sure you do all your research to find out if it’s the right loan for you.