Today’s feature is in regards to $1000 payday loans. Plural, because of the fact that we are offering four different payday loan options based on 1 to 4 week terms. This is similar to our recent post all about $500 payday loans, except that we are going to do this a little bit differently today.

First of all, we should point out that getting approved for a $1000 loan with most payday loan companies is possible, but you have to sort of build your way up to that amount.

For example, a typical payday loan company will allow you to borrow between $300 and $600 if you are a first-time customer. If you successfully pay off your first loan, and that loan happens to be their maximum amount for first-time customers, on the next loan you can get approved for hundred dollars more on top of that.

So let’s say that the payday loan company you use lends you $500 on your first loan, then on the next loan they would approve $600. If that loan for 600 is approved and repaid, then you can get approved for $700 on the next loan, and so forth. This is common with some lenders, for example this is how it works with Ace Cash Express and many others like them. Continue Reading »

The $500 payday loan isn’t the most common amount approved, and funded, but it’s for sure the most common maximum lent to first-time customers in the PDL industry.

Payday loan companies generally will not lend more than $500 to any applicant who has never had a prior loan with them in the past. This only makes sense due to the relatively high percentage of defaulted loans that cash advance lenders are burdened with. So this makes it imperative that we as consumers, fully understand the cost of borrowing when we take out a $500 loan with one of these companies.

If you have never borrowed money from a PDL company in the past, you will very likely only able to get qualified for their maximum of five hundreds - but if you turn out to be a solid, and reliable customer, they will allow you to borrow more money if you decide to get another loan with them in the future ($1000, $1500, etc.) Continue Reading »

We are launching a new series here at PDLFinder.com, in which we review the week’s payday loan reviews. This is a very handy way for our readers to catch up on the newest payday loan reviews – all on one page. Sure, you could just scroll through our home page, but this clarifies our work a little bit better, and outlines our current direction. Sort of like a snap-shot in time, so to speak.

We are calling this series “Payday Loan Sundays” for short, which we think is sort of “catchy” in a way. We will highlight all of the reasons why applicants chose to borrow money from payday lenders online, or in their City and State.

So for this week in January, from the 16th to the 2oth of 2012, we have were focusing on payday loans in Texas. Below is the breakdown of PDL reviews we published.

On Monday, January 16 we did our first post for the launch of PDLFinder.com, where we discussed what our plans were for the site. We listed all of the criteria, for which we will be using when posting our detailed payday loan reviews for our readers – going into the future of 2012 and beyond.

We also introduced our about page, our privacy policy, and terms of service information. Along with that, we pointed out our payday loan calculator. Continue Reading »

Today we are reviewing a payday loan that was applied for by a 28-year-old woman living in Houston Texas, and she wanted to borrow $1000.

Her reason for wanting to borrow $1000 was because of an emergency situation in regards to paying her rent on time. She had already been granted some leeway by her landlord, but she was now almost 2 months overdue in her rent.

This is a classic payday loan situation, being that if the borrower doesn’t get some quick cash in their bank account, they could run the risk of being put out on the street. We have seen this kind of application many times before on our other payday loan websites, and we always feel badly for these people who don’t have access to any form of credit at all.

The big problem here is that when a borrower wants to get something like a $1000 payday loan approved, they may not have the financial resources to easily pay off the loan at the end of the term, whether that term is one week or four weeks. Unfortunately, too many people fall behind on their rent and their bills, and don’t get on top of it soon enough to relieve their financial stress in a prudent manner. Continue Reading »

Today we have an applicant who wanted a $500 payday loan. He lives and works in the Dallas-Fort Worth area of Texas. He needs the $500 quickly so that he can pay off his Verizon phone Bill and his electrical bill with his utility service company. If he does not pay off these two bills, he will lose his cell phone service and his electricity on his apartment. Your humble narrator has actually been in this position before when he was a young man growing up in Arlington Texas. I wasn’t too bright with my money in those days.

We are going to do something a little bit different today, which we are fairly excited about because we think this will make our posts better looking, and more interesting and helpful to our readers. We are going to present the table for this $500 payday loan in Dallas-Fort Worth, including our calculation of the PDL by our “PDL professor”, including the questions and answers as per the pre-application form that the borrower filled out at the time of application. Continue Reading »

The so-called PDL Professor® is a fictitious character created by one of the PDLFinder.com writers on staff – Sandy Morse.

Her idea was to have a “cute” and “funny looking” character who would be our sort of a watch dog in regards to the math involved in calculating the payday loans we document on our site.

We decided to find a picture of the professor as well, and you will see him show up on every post where there is a calculation of a cash advance or payday loan.

The arithmetic involved with calculating a payday loan is very simple really – once you take a good close look at the numbers in play. Here are the variables that The PDL Professor® uses in his equations.

• number $100 increments in the payday loan
• fee rate per $100 charged (FP100© – “fee per $100″)
• principal of PDL product or cash advance product
• total fees charged on short-term loan
• total monies repaid to the lender
• term length (in weeks) of the loan
• T Factor© (also our invention) – sum of 52 ÷ # of weeks in term
• effective APR Continue Reading »

A young woman in Lubbock Texas needed to get approved for a $2500 payday loan, and she wanted to have it approved on the same day of her application. On this post we are providing a table of data showing all of the particulars of her application and her approval. This 28-year-old woman is a single mother who lives in the Heart of Lubbock area, which is actually a neighborhood of the city.

She works as a lab technician and makes good money doing so. She works in the Covenant Health System building on 19th St., between Memphis Avenue, and Indiana Avenue. The problem is that she has a lot of monthly expenses on her hands to deal with, and three children to support. There comes a time when the money just isn’t coming in fast enough to pay all of the bills that come through the mailbox.

Continue Reading »

This is the official launch of PDLFinder.com – we are doing something a little bit different in payday loan and cash advance industry. We provide information for payday loan customers and applicants, so that they get their loans from the most reputable and honest companies. PDL companies that don’t hide their fee structures, and don’t surprise their customers with misleading information. Continue Reading »