My Payday Loan Help Center

My Payday Loan Help Center

I need help with a career move?

I am currently a Assistant Manager (started as a Customer Service Rep) for a major payday loan company and I only make 10.10/hr and work Monday through Saturday(worked their for two years). In 2009, I only made 20,100 dollars. Farmers Insurance has a position open for a customer service associated starting at 27,500/year. I am currently a junior in college going for a Business Management degree (then going for my MBA) My company does not offer any benefits beside health/dental/vision and 401K. Farmers offer all that plus school reimbursement. Now the tricky part is it I work for farmers, then my hour would be all over the place through the week. Please give me some advice. I do not want to be known as a job hopper or will it hurt me if I go from an Assistant Manager to a customer service associate. Lastly, the customer service associate position is in a call center setting.

I don't think it will hurt you to go from assistant mgr to a customer service associate position because that position will have more responsibilities and you can convey that on your resume. And really there is only so far you can go with a payday loan company. I mean I think there will be a lot more room for advancement in the Farmers insurance.

I think taking this position will show that you are progressing in career because an insurance company will require you be more professional than a payday loan company. As you said, your schedule will be more challenging, but on the same note having the extra pay will probably relieve some of your stress in other areas. The tuition reimbursement is golden if you are going for your MBA. Also, just the fact that they offer tuition reimbursement says that you will be a valued employee.

Hope this helps. - Good luck with the job.

Payday Loans - Need a Quick Fix?

Payday Loans - Need a Quick Fix?

When most people think of payday loans, what comes to mind is usually basic information that's not particularly interesting or beneficial. But there's a lot more to payday loans than just the basics.

Reasons for taking payday loans

The reasons for taking a payday loan mostly center on meeting some emergency requirement of cash. This may be for prevention of check bounce and late payments or for meeting cash requirements for unexpected traveling needs or vacation. The loans may also be taken for meeting medical expenses incurred, for procuring health aids, for paying out unexpected utility bills and for satisfying cash needs for various other heads of personal expenditure.

Eligibility for payday loans

In order to qualify for a payday loan you need to have a current job or possess a regular source of income, your monthly income should be at least $1000. Besides you need to be an U.S. citizen at least 18 years old and have a checking account. It may be noted that no credit checks are conducted and bankruptcy, bounced checks, charge offs and other credit problems do not act as hindrances in securing the loan.

Going about with payday loan transaction

You need to get started by going over the application form provided. Answers to some questions may be sought and you need to provide as correct answers as possible to expedite the loan approval process. The loan representative will contact you in a short time (a few minutes) for confirmation of your application. Some documents for supporting the information provided may need to be faxed. Upon approval the loan amount will be deposited in your account soon.

The best time to learn about payday loans is before you're in the thick of things. Wise readers will keep reading to earn some valuable payday loans experience while it's still free.

On the due date (next payday) the loan amount together with the fees and interest will be automatically withdrawn from your bank account if you are paying the payday loan in full as per the loan agreement. However, you may extend the loan, pay only the finance fee on the maturity date or pay the finance fee and a part of the principal loan amount on or before the due date.

Payday loans or payday loan cash advances are short and unsecured consumer loans. They have the special feature that they need to be repaid within the next payday. They usually do not involve a large amount and are borrowed to take care of some small, unexpected emergency expenses. Typically, a short-term loan of up to $500 is provided without a credit check that helps bridge the borrower's cash flow gap between paydays.

Choosing a suitable payday loan firm

If you are venturing into taking payday loans for the first time then you may be facing the difficulty of choosing an appropriate lender. There is increasing competition in the payday loan industry today thereby reducing the market rates of interest on these loans. So, you can expect to get better bargaining power regarding interest rates and loan fees. In this way you can decide upon the lender by opting for the one who is willing to offer the lowest interest rates and the minimum loan fees. However, you need to check out some other things too.

It is important that the payday lender is licensed in your state. There are a number of such lenders who though licensed in one state carry out their operations in a different state. They claim to be franchise of the state in which they are licensed. However, it is better not to opt for their services. You need to rely on the reputation of the payday lenders. Payday lenders reputed to be honest in their dealings are to be chosen. The shady lenders ought to be avoided even though they may be offering comparatively lower interest rates.

Checking out the customer care service of the lender helps in adjudging a payday loan provider. An established and good payday-lending firm will definitely have a strong customer care service base. They will satisfactorily answer all your multiple queries in detail. Cash advance or payday lenders who are there in the business for quite some time are more reliable. This serves as an assurance of its credentials and integrity.

The loan contract and privacy policy of the payday loan firm holds great importance too. You need to thoroughly read it and examine the implications. In case you find that the loan agreement or privacy policy of the lender is not agreeable then it will be a wise decision to drop the loan. You can proceed to check out another lender in such case.

Another thing to look out for in payday lending firms' online ventures is the possession of the Secure Socket Layer by the websites. The Secure Socket Layer or SSL implies that the information of the client gets recorded in an encrypted form in the lender's database thereby preventing misuse of personal information.

That's how things stand right now. Keep in mind that any subject can change over time, so be sure you keep up with the latest news.

About the Author

Barney Garcia is a proud contributing author and enjoys writing about many different topics.
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