Zip19 is a responsible payday lender that helps you cover critical expenses until your next payday. While this is an extremely convenient service when you need funds in a hurry, it can also turn out to be a liability if you can’t pay the loan back on time.
Lenders that allow loan extensions or rollovers represent a sure debt trap as they allow you to accrue a substantial debt. A much better option is responsible payday lending, where you can only apply for an additional loan once the outstanding loan has been paid in full.
Payday loans are of great benefit when used responsibly. During a time of financial need, you may need extra funds to cover important living costs, such as overdue bills, mortgage repayments or essential medical costs. If you know you can repay the loan in full plus any additional fees incurred on your next payday, then applying for a payday loan can get you out of trouble, fast.
As a precaution and to ensure that you only borrow money you can pay back, a responsible lender such as this one allows no more than 30% of your net income to be borrowed for your first loan, with a maximum set limit. Only after you have consistently demonstrated that that you can repay your loan on time, your loan limit may be increased based on your net income.
This lender has a strict no rollover policy. The reason for this is so you don’t end up in more financial trouble due to an unpaid loan that keeps getting extended multiple times. Remember that a payday loan should only be considered as a solution to a real financial emergency and not for anything trivial or unnecessary. This way, you can end up actually saving money where there would have been a more expensive alternative.
This particular lender has no hidden fees or extra charges that aren’t outlined upfront, so you’ll always know exactly how much you will need to repay when due. The other useful thing this company does is that it sends out an automated reminder email two days before your loan repayment date, and then another one on the actual day. This way, you won’t forget to have the correct amount of funds available in your account for automatic debit.
Too many payday lenders prey on the vulnerable, especially retirees, pensioners, recipients of a Social Security benefit, people on a commission only income, and those on maternity or medical leave. This payday lender will not approve a loan to anyone with these types of income. Furthermore, your employment is verified by them beforehand, for example they may call your employer, to ensure you are eligible for a loan.
It is important to them and to you that your customer information is always kept confidential and secure. They also provide customer service all day, every day, should you have any concerns or questions. Alternatively, you can always log in to their web site to make a loan request or check the current status of your loan.
With Zip19, it’s easy to get started. You can apply online and provided you are approved, the money will be deposited directly into your bank account as early as the next day. Once you have received your money, you then have up to 14 days to repay it to avoid late fees. Remember that whilst this service can be a great immediate solution if you happen to be short on money, it should never be used for any long term financial crisis situations. Check the web site terms and conditions, and most importantly always make sure that you can repay a loan on time.