Sunday 23 September 2012

Companies That Offer 100 Day Loans

100 Day loans is a new method that lending companies offer to borrowers, giving them an extended period of up to 100 days. This is beneficial because the payday loans takes about 14-30 days to repay and a late payment fees is charged to the customer. Majority of applicants for 100 day loans receive approval and repayments is about three months. The procedure of applying is very simple and this is designed to get money to the client as fast as possible. The loans do meet tight financial obligations that occur unplanned for example, paying of medical fees, additional tuition for kids, paying for increase in fuel cost and mileage, paying of internet, water and electricity bills.

Before a borrower can receive the loans, it is advised that they do thorough research on the lending companies, concerning their rules and regulations on repayment for the pay day loans. Some lenders usually don't extend the repayment period and the client may incur huge interest fees. In addition, other lending companies may give a first time applicant a lower amount that applied for depending on a number of factors including: income levels, country laws and work information.

The loan amount approved, is determined by the information provided by the client in the loan application form. Most 100 day loans range from £ 500- £ 1500, but the lending companies can lend up to £10,000.Large numbers of first applicants, are never given a higher amount but after successful repayment, the lending companies increase the figures in the future. In cases where the borrowers has insufficient funds to finish the loan by the agreed date, the lender should be contacted and most of them do accept part payments and can extend the loan for an additional fee.

When the lender accepts the loan application, it usually takes less than 24 hours for the loan to be processed and then send an email to the lender to confirm and give further instructions on what needs to be done. In the application form, the borrower must give personal information that the lender will use to wire the cash directly to their account. The information given is always kept securely and discreet in the lender's database files.

Lending companies are under stiff competition, and that has made consumers to be aware of their existence, with this knowledge, they can make wise decisions on which is the best company that offers the best rates on the loans that will suit their urgent needs. When a borrower is in a financial crisis, they need a lending company that has easy and simple steps that will not be tedious for them. The lenders offer very quick and accessible services, others being available online for those who can access the internet.

Article Source: Ezine Articles

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