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All Payday lenders are bound by strict regulations and codes of conduct. Unfortunately, not all online Payday lenders abide by these rules and guidelines. Every day, we come across stories of borrowers who have been mistreated or misled by unscrupulous online short term lenders. Although Payday loans as a form a credit are still increasing in popularity, the number of these financial horror stories posted on the internet, do not seem to be disappearing. Bad lenders cast a bad light over the whole payday loan industry, which is unhelpful for the people out there who genuinely want to use this form of credit. It's also unhealthy for the industry as a whole.

In this article we look at some of the things you should consider before you apply for a payday loan in the hope that you can avoid the bad lenders and end up with a much more positive experience.

The biggest issue is that the less than honest lenders are not so easy to detect. Many of them have seemingly good reputations and flashy websites promising the best and quickest loans. When you are looking for a good short term lender, first of all, choose a reputable company, that's a good start. Secondly, make sure they clearly show their lending licence and registration details on the website.

Reviews and feedback from other customers are also an excellent way to establish whether a lender is good. The best lenders offer free customer advice so you can ask questions and make enquiries without having to apply for a loan. You should be able to access all the information you need without any obligation to borrow money, until you are ready to do so.

According to our research, internet searches are how the majority of people find a payday lender. This is a good way to start, but once you have found a few lenders, it is best to spend a little time doing some research into them.