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Getting the perfect payday loan makes you feel you have got a good deal. It is a comforting feeling and you are happy about it. However, there are certain things that you ought to know to get a good deal and that is making a choice between direct lenders and brokers. The first point to understand is that direct lenders loan their own money. Middlemen or brokers send out your loan application to many payday lending companies trying to match you up with a lender who can provide you a loan according to your needs. By doing so your personal information could get into the hands of unscrupulous lenders and soon you may find yourself in deep financial trouble. Another difference between the direct lenders and the brokers that you ought to know is that in case you default on repaying the loan you will be charged a penalty. The penalty you pay to the direct lender will be comparatively lower than what you will be paying the broker. The broker will include his percentage too. anonymous


 


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