In these difficult economic times, anyone can encounter financial difficulties. Thankfully, it is possible to obtain payday loans online. Building up a good relationship with a reliable online payday lender can help you to get through the difficult times. Good relationships work both ways, so here are some ways in which both the lender and the borrower can build a harmonious professional relationship.
Toll-free Payday Loan Help and Advice
Although you will apply online for a payday loan and the money borrowed will be paid directly into your bank account, there may be some occasions when you need to contact your lender urgently.
It is, therefore, a good idea to choose a lender that publishes a customer service telephone number on its website. Some payday lenders charge their customers for phone calls, so select a lender that has a toll-free number. Otherwise, you could run up huge telephone bills.
You will not want to talk to your lender while you are at work, and your co-workers are within earshot, so choose a lender whose customer services department is open for at least a few hours a day outside your regular working hours.
A Good Record of Looking After Customers
Look for positive reviews written by current and past customers of the payday loans online lenders you are considering. These reviews should be posted on independent websites and blogs that are in no way connected with the lender in question.
The Better Business Bureau (BBB), for example, publishes reviews of payday loan companies on its website, as well as complaints made against individual companies and the companies’ response to these complaints.
Always Try to Repay Your Loan in Full and on Time
If you pay off your loan in full on its due date, you will show your online lender that you are a reliable borrower. Some online payday loan lenders offer more favorable interest rates to borrowers who repeatedly pay back their loans on time. If you are a returning customer they may raise the amount they are prepared to lend you in the future.
Keep the Channels of Communication Open
If for an unforeseen reason, you are unable to pay back all of the money borrowed on your payday loan’s due date, it is important that you discuss this issue with your online lender as soon as you are aware of it. The best online payday loan companies will discuss your options with you and come up with an alternative repayment schedule.
If, however, you do not contact your lender to let them know that you won’t be able to repay your loan on time, it is very likely that you will have to pay additional penalties and charges after you default on your loan.
A good relationship with an online payday loan lender can help you navigate your way through a difficult financial situation. Always ensure that you keep the channels of communication open so that you and your lender can agree the best way forward, whatever the circumstances.