We have reviewed the best small payday loans of 2017 for you. Here is our final report. You can just use the results – we spent 600+ hours to collect them. Hope, you will enjoy the results.
We recommend you not to use payday loans at all. Try to use some alternatives. Small payday loans are very expensive and mostly too risky. Never use them, if there is your first idea. Most of the life-situations might be solved in some other ways, which are more comfortable and cheap.
If you are to use small payday loans anyway – try to return such loans as quickly as possible. Remember, it’s much more safe to get a credit card, than a payday loan. You are to understand, that mostly you are to pay off double or even triple price for such oans.
Why do people use small payday loans?
Payday loans are legal just in 32 States of 49. Each of them has strict rules and restrictions both for lenders and debtors. This is mainly due to the fact that such loans are extremely dangerous for the borrower, and the state, first of all, is obliged to protect the rights of its citizens.
Here are the main dangers that the borrower may face:
- high rates of the loan;
- the loan is too short;
- huge fines for late payments;
- negative impact on credit history;
- rough and brutal collectors.
Now let’s pay attention to the pluses of microloans:
- you can get money quickly;
- minimum of documents is required;
- do not ask questions;
- you can get a loan online without leaving your home;
- there is no need to confirm income;
- no need to have a job.