Next Payday Advance is a loan matching service that puts prospective borrowers into contact with prospective payday lenders over the internet.
What Is Next Payday Advance?
Next Payday Advance does not publicize any of it's company's information on its own website. Its website registration is also bereft of any information, as it features the use of a private domain registration service to anonymize any identifiable information.
However, the site does list a phone number, which allowed us to find the company's physical address, tied to a residential neighborhood in Henderson, Nevada.
Next Payday Advance Product
Next Payday Advance provides matchmaking services between borrowers looking for cash advances and lenders willing to provide the funds to these borrowers. The service is free.
Users submit their personal information – name, address, Social Security number, and often email address and phone number – and Next Payday Advance then goes through its database of lenders in an attempt to match one to its user.
Once this happens, Next Payday Advance's job is done – the rest of the experience is controlled by the terms and conditions of the loan offered by the particular lender. Nowhere is Next Payday Advance involved in that process.
While each lender is different, Next Payday Advance offers prospective borrowers to request anywhere from $100 to $1000 in funds.
Next Payday Advance Opportunity
The company provides an avenue for individuals who need emergency cash in a hurry – this is the main opportunity Next Payday Advance provides to its customers. It's not a direct lender – it simply facilitates loans. This makes it a valuable service for individuals feeling a financial pinch.
Next Payday Advance Verdict
Next Payday Advance seems to have a more-or-less clean reputation for a payday loan matching service. It's not accredited with the Better Business Bureau, but it otherwise holds an A+ rating from the BBB, which is always a good sign.
There are just a couple of things to keep in mind when it comes to using such a service. The first is a privacy matter – lending matchmakers keep your personal details on record indefinitely once you provide it to them.
They then use this information to market other products and services to you – and they also reserve the right to share your information with third parties for marketing purposes as well.
This is the price you pay for using their “free” service. However, you can opt out and have the company delete your personal information by contacting them directly; however, the company has a grace period of three months in which to delete your information.
Marketing efforts can continue in that time, and if your personal details have already been shared with third parties, there's no way to get the cat back into the bag at that point.
Secondly, it's important to be aware of the nature of payday loans. Cash advances are designed to be extremely short-term emergency loans and they're not a long-term solution to financial difficulties.
It's one thing if your car breaks down and you need the cash to fix it immediately instead of waiting a week for your next paycheck; as long as you'll have the money to cover the loan (and it's high interest rate) without causing yourself financial hardship, it's likely safe to take out a payday loan.
However, if you are already in debt up to your eyeballs and you need an influx of cash to keep your head above water, taking out a payday loan is a bad idea.
Interest rates are incredibly high on these types of loans, and taking one out could result in making your financial situation that much more dire if you don't have the income to repay the loan on time – late payment penalties on cash advances are usually quite severe.
In the end, if you feel that you are in a stable enough financial situation that you can afford to repay a payday loan without placing yourself in jeopardy, Next Payday Loans looks to be a decent choice to find a lender.