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Direct Payday Lenders

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Direct Payday Lenders vs. Pawnshops

Thanks to the reality TV show, Pawn Stars, pawn stores find themselves in a good position. The show shows clients going into the Las Vegas shop and looking to have items appraised. Sometimes the people who have their stuff appraised find out that item is worth nothing because it is a fake. However, outside the reality TV drama, desperate people turn to pawn stores for quick cash. They pawn items that have value thinking that they will get it back with their next check.

Pawnbroking began in ancient Greek and Romans times. The concept of pawn broking years ago was to aid people with funds using collateral and charging an interest.  Today, it works that same way.

You run into a financial bind and you go through your items to see what you can take up to the pawn store and trade for cash. Most people try pawning items such as televisions, guns, game counsels, jewelry and anything else that might help get the extra funds they are in need of. The plus side of finding a pawnbroker is the no credit check or background check. However, there are other places that can offer the no credit check, no background check, and no need for your possessions to be held as collateral.

Direct payday lenders such as Mypaydayloan.com are there to help people in a bind without asking you to put up your personal items for collateral. Not only can Mypaydayloan.com get you money, but the direct payday lender can get it to by the end of the day or the following day.

Direct payday lenders are often scrutinized for their outrageous fees. However, with Mypaydayloan.com, you have a flat rate and you know ahead of time how much it will cost you and what you will have to pay in return. On the other hand, pawn stores yearn to fill their pockets with unnecessary fees. Pawn stores charge the usual high-interest rates, storage fees and other unnecessary fees. What happens if you can’t find your ticket they gave you when you pawned your items? Normally they charge you a high, unnecessary fee to get a new ticket. They know that you are the account holder. And, obviously, they know what you pawned because for $20 they can issue you a new ticket. If you pawn an item and only pay the minimum fee every month, then you are only paying the interest. Nothing is going to the principle, meaning you are not applying any money toward your pawned item. Some people never see their possessions again because the high-interest fees of the pawnshop caused them to take on a bigger financial burden than they expected. It is robbery and the pawnbroker knows they can get away with it legally.

What happens if the pawn store goes out of business? Or what happens if the pawn store is robbed? All the time on the news, you hear of pawn stores being robbed. If the company did not have insurance, then you are out of luck. And if they did have insurance, you might only get back something that was of the same value. If you pawned a family heirloom, and the store was robbed, then you can guarantee that you will not be getting the heirloom back. How are you going to explain that to your grandma?

Any time you take out a loan, there is a risk. Pawnbrokers sometimes encourage you to take more than your asking or they’ll ask for more possessions before paying you what you need to get by. More so, if you only need a couple hundred to get you through until your next paycheck, they may encourage you to take $500. They encourage this so that you will hopefully take the bite and they will be making more money off you. The people in pawnbroker industry are only looking out for themselves. 

However, Mypaydayloan.com is a direct payday lender that understands that you are taking a risk. They encourage that you only ask for the amount you need and know that you can comfortably pay back. They will never ask you to take more than necessary. Mypaydayloan.com is there to help you out, not create more a burden for you like pawn shops can sometimes do.

Not to mention, Mypaydayloan.com has a fast and simple application form. It is even faster if you use the auto fill tool connected to Facebook. If you get the application in before 1:05 p.m. (noon if you reside in Ohio) in the states that the direct payday lender services, then you can have the money in your bank account by 5 p.m. your time. If you miss the cut-off time, then you can expect the money to be in your account within 24 hours. What is even better about using the online direct payday lender is that you do not even have to leave the house. Your application can be done from the privacy of your home or office.

Pawnbrokers are not too worried if you aren’t able to pay. They have collateral and can sell your possession(s) once your account becomes delinquent. However, borrowing from Mypaydayloan.com, you can rest assured that none of your possessions are going to be sold. You can also rest assured that the Mypaydayloan.com staff is friendly, encouraging and there to help you in English and Spanish if you run into any trouble. They can help answer questions regarding the application or loan. Furthermore, they can help find payment solutions if you run into a problem.

Deciding to take out a loan is a big decision. Even if the loan is a short-term one through direct payday lenders. You should always find out all the pros and cons when it comes to taking out a loan. 

Interesting Pawnbroker fact:

It is rumored that Queen Isabella of Spain pawned her jewelry so that she could fund Christopher Columbus to sail across the sea and later discover the New World. I bet she did not have to pay ridiculous fees or high-interest rates.