Is Payday Panda's Same Day Payday Loans Worth it?
By now, you have seen the commercials for the Payday Panda same day payday loans on television. The commercial states that you can get instant approval for an emergency payday loan for $500 and up to $1000 until your next payday. The application, they said, takes less than five minutes and you can get approved immediately.
PayDay Panda is not the pay day loan company itself, instead, it acts as a go between between you and the lending companies. It matches you with over 60 pay day loan lenders who can give you instant approval for $500 up to $1000 the same day. If you need money for car repairs, groceries and rent, or even just to get by until your next pay check, PayDay Panda seems to be an option that connects you to the appropriate resources.
There is a Payday Panda in the UK, but their 888 number appears to be for the United States so it does not appear to be the same company-but since they don't disclose to much on their television commercial it is really hard to tell where their headquarters is. It's up to you to ask them if they are out of the country or if they are inside the United States because there may not be too much protection for you if they are outside of the country. Whenever you are dealing with, same day payday loans from Payday Panda or any other pay day loan company or even emergency loan companies like Western Sky, be very careful about how much you have to pay back in interest. Sometimes you could be paying the money back at 100, 200 or even 2000 percent interest.Credit: http://www.flickr.com/photos/aareps/6002104605/sizes/m/in/photostream/
When applying for the same day payday loan from PayDay Panda, you will need to have certain information available. Information you will need include:
- Date of Birth
- Phone Number
- Employment information
- They will ask your bank account detail since the money will be sent to your bank account once your same day payday loan has been approved. If you are not comfortable giving out your bank account information, then ask PayDay Panda to send you some more information about them and their company so that you can do a background check on them. Do not just give out your bank account information to a company simply because you saw their commercial on television. Ask if they can send you a check instead of having the money deposited directly into your account.
The phone number for the same day payday loan from PayDay Panda is 888-390-6007. As stated before, this number appears to be a U.S. phone number but you can never be too sure. Ask questions of them. Ask them if they have a website so you can investigate them further-it is your right to do so. If they won't give you any information and just insist on getting your information so they can put your information through to apply for the pay day loans online with the 60 different lenders, you have to make the call on whether it is worth it to take that risk with your personal information when you can deal with other payday loan companies that may be more forthcoming and trustworthy.
An alternative to PayDay Panda or other payday loan companies are emergency loan companies then lend you emergency cash to buy a car or pay bills. These types of companies also charge you a large interest rate but since the terms are much longer than a regular payday loan, you could end up paying thousands of dollars more in the long-run. You have to assess your situation and see which type of emergency cash loan you need.