Rate of interest has always a demerit for the payday loans. Though it is very easy to apply and to procure cash from such loans the rate of interest at times would swallow the benefits of such loans. However the same problem could easily be tackled by the direct lenders. While applying and approving loans to customers such lenders do deal directly with the customers or the borrower in the absence of the third party or the broker. These thirds parties are considered to be loan sharks and they need to be paid for every lead that has been sub mitted to the lender through them. All such costs ultimately reach the borrower or the customer. However to avoid such extra costs on the customer these lenders deal directly with the borrower without the interference of the third party. Hence it is always better to know if we are dealing with the direct lenders when applying for payday loan to avoid such extra costs.
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