If you’ve ever been desperate for a quick payday, you may be disheartened to learn that the number of companies offering payday loans is decreasing. To find instant cash in today’s challenging economy, check out these websites and apps for quick online loan approvals from the top payday loan companies. You fill out an application by answering questions about your credit score, income, and employment history. You’ll be instantly approved if your circumstances meet the company’s guidelines!

The good news is that these sites offer very competitive interest rates, which can help tide you over until your next paycheck arrives. Contact the approved lender to complete your application and to receive your loan immediately.

The bad news is that some of these companies prey on their applicants’ ignorance of their consumer rights. A few states have enacted laws to protect borrowers from predatory payday lenders who charge unreasonably high-interest rates that can finance the loan many times over. 

Some lenders will sue you if you can’t pay the loan back on time. This is called “automated collection.” Some states have laws protecting consumers from this threat and destructive debt collection tactics. Always read the fine print under the “terms and conditions” tab or somewhere else easily found on the lender’s website or app.

If your loan is still in default after several months, it may be reported to a credit bureau, and you may be blocked from obtaining any type of credit for some time. Read your contract, contact the lender immediately if you have any questions, and speak with a licensed attorney before signing anything.

While these websites don’t charge the sky-high interest rate you find at traditional brick and mortar payday lenders, they will still cost you plenty. If you need some extra cash, think about selling some things around your home or using other less risky means of obtaining cash.

If you suspect that you’re being taken advantage of by one of these online lenders, cancel the application as soon as possible and contact a local credit services organization. Many times, people get into trouble with online payday loans because they can’t afford to pay the bill when it comes due. Usually, these companies will waive the fee or put it on a payment plan if you call them before they send it to a collections agency.

In conclusion, try these services if you’ve trouble finding a payday loan to pay your bills.