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100DayLoans – Scam or Legit?

Diane Luke
Senior Editor, TipsHire

100DayLoans.com is one of the payday loan agents that assures to quickly find you an individual loan. If you have been looking for a lender, you may be interested in one of the online lending agents and filling in just one lending form rather than several. But does this indeed work, and can it really help you obtain a loan, or are you giving your individual information for little or nothing?

About 100DayLoans.com

If you have done a little bit of research on the pay day loan industry, you should have seen already that it is not too fair. Many people contemplate it predatory lending, and it’s really quite hard to say something else when you see the actual fees and interest which appear to be astronomical.

100DayLoans can not be considered an undesirable company, or perhaps a scam, because that might be like getting rid of the messenger. They don’t really actually provide you with any money, so they’re not a loaning company. They’re similar to eHarmony where they’re seeking to redirect you to the best lender in accordance to your preferences.

What does 100DayLoans.com claim?

100DayLoans claims they have an enormous network of lending companies that are prepared to get you approved in only few minutes. They state that their searching engine automatically decides the best lender for you, based mostly on how much money you will need, and the cheapest rates available.

They’ll also make an effort to obtain as much money as possible for you, predicated on your residence, your earnings, and exactly on what period you want your loan to be.

Pay day loans are almost never beneficial, if you have no other better solution, a pay day loan might be all that you can do, at that moment.

However, lending brokerage companies shouldn’t put pay day loans in a bright light, or to make an effort to make them seem to be like a big favor for you.

What’s with the ‘100 Day’?

The media hype about 100DayLoans mostly originates from the name. They don’t really say on the official site that you will get 100 days to repay your loans, even though some review sites on the Internet have wrongly advised people that this is definitely the case.

You may have the standard time you can get for a pay day loan, typically the next pay day unless it comes too early, like under a week. Therefore, probably you won’t have everywhere near 100 days to pay your loan, but around 14 days, which is the standard period on the market, or, in the best case, 30 days.

The costs of 100DayLoans.com

There is no cost for you for using 100DayLoans.com.

The costs are those of the lending company that you decide to go with. Surprisingly, 100DayLoans will gladly pay the costs of your first loan in order to get make you their new customer (this offer is not always available, however).

It isn’t known what type of charge the pay day lending companies need to pay for 100DayLoans.com’s services, but it generally does not effect the expense of your loan, and you will not be paying an increased rate than if you’ll have dealt straight with the lending company.

It is like a pay day loans affiliate marketing program in which 100DayLoans.com are the affiliates of the lending companies, which are paying them back a commission for every new customer.

You should have the same type of commitment that you’ll with every other pay day loan lender out there, and that’s because that’s who you will be interacting with.

100DayLoans.com is not genuine lender, but is like an agent or affiliate marketers that has put together a network of pay day loans lenders and an engine searching system which reads through the pay day loans lending companies’ offers and match them up with your preferences, desired loan period, income level, and your credit history.

Conclusion on 100DayLoans.com

In the event that you meet the conditions and agree with the actual fact that employing an online payday loan company is not actually going to advantage you in any way, but you don’t have any other solution, 100DayLoans.com is not really a bad company. Actually, they aren’t a part of the problem, because they’re not financing your loans straightforward, and they are not asking you to pay extra money in order to receive the loan.

In conclusion, 100DayLoans.com is not a scam but be aware to thoroughly read the contract with the pay day loans companies they put you in contact with, because, usually, the annual interests applied by these companies are astronomical and you might end up paying more than the borrowed amount in form of interests.

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