Cash Doctors is unlike any other payday loan company.

What distinguishes it from the rest is how the founders' shared experience with clients is central to every Cash Doctors lending policy. People must have a fair, transparent, convenient experience. But it's also important to offer both short and long run solutions and provide opportunities for learning how to have more money in the long run.

We're not doing anyone favours by lending more than people can afford or charging a short-term interest rate for a long time - not the client who can end up in difficulty, not ourselves and not society.

Assessing Capacity to Repay
When it comes to issuing loans we have the clients' best interest in mind, so an initial lending amount that is best for them. By lending a maximum of only 30% of your take home pay (after rent or mortgage payments), we ensure that you only borrow what you can afford. In this situation everybody wins. Your repayments are quick and easy, leaving you free to get on with your life

Transparency

Cash Doctors knows that when viewing business websites it can often be a bit of an information overload, making things far too confusing (and sometimes less credible). www.cashdoctors.com.au is an exceptionally clear and informative website with comprehensible loan calculation, documents and log-in. Clients stay right up to date with every step of the process (approval, contract signing and payment) via member log in, emails and SMS messages.

Once their loan is active, they can log in to see loan details, fee breakdown and stay up to date with repayment amounts and dates. In a way it's like a personal loan diary for each client, where all the details of their past and present loans are recorded for them to keep track of.

Client Eligibility
Our clients are professional, hardworking, intelligent people who require small finite loans for a variety of reasons. Clients must have been employed for at least 3 months and earn a minimum of $400 per week. Pensioners and clients earning less than net $400/ week are ineligible.

Length of Loans
Payday loans are for days or weeks, not months. Lets be honest - the fees are high compared to other forms of credit but there are several reasons to explain this. It's important that payday loans are used responsibly as a short term solution.

Repayments can be made over 2-3 pay periods to help keep the amount repayable from each pay cheque more manageable. Only clients paid on a weekly or fortnightly cycle are eligible for this type of loan as it would be inappropriate and unaffordable for those paid monthly to repay over two months. People should seek options other than payday loans for longer periods and larger amounts.

But what about the build up of interest? On occasions where people have difficulty repaying and fall overdue, Cash Doctors halts interest at approximately 30 days overdue. From time to time, we hear stories where other lenders allow a $300 loan to become a $3000 debt. This can never happen at Cash Doctors.

Overdue Loans and Collections
Cash Doctors does not allow rollovers. This leads to interest charges designed for a short term solution being charged for too long and clients finding themselves in debt spirals. Loans are repaid rather than rolled over. Clients must also have a gap of a few days in between loans.

Making an affordable, flexible arrangement and minimising charges for the client as much as possible is Cash Doctors' goal. If a client has two defaults with Cash Doctors, they are ineligible for subsequent loans. Sophisticated statistical analysis is used to keep overdue cases to an absolute minimum.

Convenience
Clients apply in 3-4 minutes, log in to their own account to track application progress in real time. No faxing, no fuss. If approved, the contract is signed digitally online. New clients are paid up to $600 in one hour and returning clients are paid in seconds.

Client Resources
Articles about budgeting, debt management, debt consolidation, responsible use of payday loans and other credit are available on our website. We distribute other helpful information via ebooks, blogs forums and other websites. Cash Doctors understands that finances can be a boring topic so all articles are informative yet easy to read. Along with articles regarding responsibility, discipline and organisational skills, they also place emphasis on the sunny side of life, supplying articles about two things that everybody wants - more money and the freedom to do as we please!