Can anyone tell me exactly how Americans were ever able to get any kind of loan or funding transactions done before the advent of the fax machine? Even payday loan providers have jumped on the bandwagon, acting as though they are doing you a huge favor by offering no faxing payday loans for new customers, and promoting that service as though it’s unique for a loan company to lend money without fax machines. The fact of the matter is that plenty of loans can be completed without using a fax machine at all, and that payday loans are dangerous and unwise credit decisions whether they require faxes or not.
Listen, it’s actually in the best interests of the payday loan providers to cut out as many steps as possible in the loan process to make it easier and faster for you to get your loan. Why? Because they make a living by charging a fee on every payday loan they dole out, which means that the less time you have to think about your decision, the better. So by offering no faxing payday loans, the lenders aren’t just making the process easier for you as a customer . . . they’re also expanding their own bank accounts, as well.
So the next time you see an offer touting no faxing payday loans, stop and think about the real reason why lenders want to cut out the necessity of the fax machine. That makes it easier for you to apply and get approved for a payday loan, which gives you less time to research the facts about these kinds of high-fee personal cash advances. And the more you research, the faster you’ll come to the conclusion that payday loans are, quite simply, bad for your finances. The faster you start saving money rather than wasting it on payday loans, the faster you can start cleaning up your finances and living a more quality life.