MEMPHIS, Tenn., Nov. 13, 2013 /PRNewswire-iReach/ -- Loans-payday.com recognizes that one pay period is not always enough time for borrowers to repay a payday loan. To remedy this, Loans-payday.com has assembled a network of reputable lenders willing to give borrowers extra time to payback their loans. These lenders offer payday loans with smaller installment payments made over a longer time period.
"One of the obstacles payday borrowers run into is how quickly the loans need to be paid back. This can make it harder for borrowers to get out of a financial crisis," stated Loans-payday.com CEO Maurice Chandler. "By stretching out the payback timeframe with installments, borrowers can take less out of each paycheck. This takes the pressure off of their finances."
The Loans-payday.com website advises borrowers to take the following three steps when seeking and evaluating payday installment loans http://www.loans-payday.com/installment.html. First, shop around. The website makes it easy for borrowers to do this. With one easy secure online application, prospective borrowers can access dozens of offers from many different lenders. This allows them to compare the costs of a variety of loans with differing repayment terms. Also, since the loan approvals get sent to their email, borrowers have plenty of time to review the offers without the pressure of making a quick decision. This leads to better decision-making by the borrowers.
Second, prospective borrowers need to figure out ahead of time exactly how much they can put towards repaying the loan each paycheck. This enables them to see whether or not the loan makes sense for them. Typically, the borrower has three to four payments to payoff the loan. If that's not possible with the borrower's current paycheck, they'll need to consider ways to supplement their income, including working overtime hours, getting a part-time job, or selling valuables.
Finally, borrowers need to pay close attention to the repayment terms of the loan. They need to clearly understand early repayment penalties, the installment payment process, the availability of a loan extension, and any other fees associated with the loan.
"We are not lenders," stated Mr. Chandler. "We are facilitators and educators. It is in our best interest to make sure the users of our site find the best loan, at the best price. If we can help them use the loan wisely and they have a positive experience, they'll likely use our service again. If they have a bad experience, they'll probably go somewhere else in the future. That's why we focus on helping prospective borrowers make good borrowing decisions, know exactly what they are committing to, and understand how they can pay back the loan on time."
For more information or to apply for a payday installment loan, visit http://www.loans-payday.com/.
Media Contact: Maurice Chandler, I.D.S International inc, (646) 257-4131, firstname.lastname@example.org
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