The Dangerous of Online Short Term Payday Loan

When a customer wants to borrow some money by online payday loan then that customer have to send post-dated check the the lenders first. And then the loan is direct deposited into the consumer's checking account for the amount of the check minus the interest.

If consumers fail to have enough money on deposit to cover the finance charge or repayment, both the payday lender and the bank will impose insufficient funds fees.

Internet payday loans are dangerous for cash-strapped consumers because payday loans combine the high costs of iterest and collection risks of check-based payday loans with security risks of sending bank account numbers and Social Security Numbers over web links to unknown lenders.

For more information please visit Short Term Payday Loan Center