Best payday loans Michigan

When there is no money, but they are very necessary, they can be borrowed

There are several options: friends / acquaintances, a bank, a pawnshop or a financial institution of payday loan companies Michigan. The latter are actively offering online loans today. On the one hand, it is convenient and fast. All you need is a passport, tax ID and a bank card. He specified his data, 10-15 minutes and money on the card. There is no need to go anywhere. On the other – expensive. Such loans are issued at unrealistically high rates, and personally I consider them to be evil in its pure form. They are justified if money is needed very much and very briefly. But in life there are such things. Therefore, I decided to conduct a small study of this part of the financial market: describe the procedure for issuing such loans and compare the terms of their issuance with a dozen companies whose names are known and authoritative.

Before that, I had experience of using the services of one of the microfinance organizations – “Best payday loans Michigan”(further will be simply Michigan). The loan process is simple and does not take much time. I went to the company’s website and clicked the “get a guaranteed payday loans Michigan” button. First, it was necessary to fill in forms step by step, in which information about yourself is entered: passport, TIN, marital status, data on education, place of residence, employment and payment card.

Then specify the amount you need to borrow. The service will block 1 dollar on your card (it is important that it is there) for its verification and will freeze, thinking whether to give out money or not. In my case, less than a minute has passed since the application was sent to the message that it was approved.

The first time I borrowed 1000 dollars. It was convenient, fast and cheap. Cheap, because the first paycheck loans Michigan gives a 0.01% daily. As a result, in 10 days I had to overpay just over one dollar. Completely loyal. But then they began to offer me already at a rate of 1.3% daily. In addition, for the second loan of $ 1500, which I took for 15 days, I had to pay on top already 410 dollars (1.82% per day).

For registration of a micro payday advance Michigan or payday cash loans Michigan, it is necessary to specify the data:

Passports;
Identification number;
Bank card (with a minimum balance of USD 1 for verification);
About the place of work;
About the address of residence;
About the marital status, the presence of children.

For some companies this is enough. Others are more picky and may require more information. For example, payday loans no checking account Michiganwill certainly want to know the name and phone number of your boss. To check it, they can even call. A similar banning is in same day payday loans Michigan , but they will request personal information from someone from their colleagues. However, this is not the most reliable method of customer verification and it can be circumvented. Give, for example, contacts of friends. I even have this experience.

My friend, officially unemployed, somehow turned to the MFI and asked me to be the “shop manager” of one of the enterprises where he worked in his time. I agreed – it was interesting. He gave me a brief reference about the plant: where is, how to get there and what produces. But even this did not come in handy. I got a call from a girl and asked if I knew such a citizen. I confirmed this and gave him a positive description. That was enough. The loan was given to him.
But this is not the only way to verify the customer. You may be asked to download document scans. Michigan is a mandatory condition for obtaining a loan.