Friday, April 1, 2016

The roadside legalized loan or financial theft real help - Do you need more money to get the next paycheck? Payday loans come to the rescue. However, you must be willing to pay the price that is strong generally. However, there are steps you can take to minimize the financial damage.

What are payday loans?

Cash advance loans, post-dated check loans or the deferred deposit check loans are high interest loans and interest are used in the short term. Here is the short-term focus, usually of 14 days, as most of us are paid twice a week.

As a payday loan work?

The old economy has the idea per day live together. As if that was not enough. In today's economy, many do not even to the next payday. Therefore, the potential borrower writes a personal check to the lender for the amount you want to borrow plus a fee.

The lender cashes the check and keeps the price, of course. Ideally, this type of loan, the borrower will have room to breathe, and he / she can repay the loan if he / she is paid.

Let's look at an example. Susan borrowers need to have $ 200, and the cost is $ 30 You wrote a $ 230 check and the lender agrees to hold the check until your next payday that. On usually 14 days

After 14 days on each plan depends, door woman Borrower $ 230.00 in cash for the lender and brings personal check he wrote. Or you can check the fly for a fee through the payment of the loan for another two weeks to extend. Every time he comes back to check, a tax, the $ 30 In theory was in this example, when the curves, check for one year, ending $ 30 or $ 780 to pay 26 times to be paid: Loans 200 $.

As the credit rate calculated on salary?

Usually lenders charge a fixed fee for each borrowed amount. For each example, $ 10.00 $ 100.00 borrow and can be as high as $ 30 for each $ 100.00 you have to borrow. Double-ay ay! This translates into something like 700% APR and some people are concerned about the 20% credit card interest rate.

As the truth loans can help you?

Under the Truth in Lending Act, lenders, the cost of payday loans must be disclosed. So look to compare. Among other information, you must, in writing, obtain financing costs (a dollar amount) and the annual percentage rate or April (the cost of credit on a yearly basis).

What guarantee do you have?

Your personal check is the warranty. Return to the old times of my word is my bond. Given the fact that many people so easily break their words, as they would do their obligations, the lenders these loans very expensive, so take those the costs of collecting pay those who do not pay.

What alternatives do you have prepared on the spot?

Consult union or small loan company, if your company does not provide short-term assistance. I know that it can be difficult, friends and family to say about your financial difficulties, but swallow a little pride and ask for help. Make sure that you do not pay do not swallow their pride to for time.

If you borrow money, other debt or other bills to pay off, why do not you ask your creditors for more time to pay your bills? Find out what they pay for this service, including late fees and require an additional financial burden or higher interest rates.

What steps can you take to reduce costs?

If you need credit, shop carefully. Compare. Look for the credit offer with the lowest April

Compare (includes loan fees, interest and other types of credit costs) April and financing costs to obtain credit offers with the lowest cost.

Some companies offer a guarantee of low cost saves time in comparison shopping. An example of this type of guarantee is: "It must be verified much of a payday loan provider unique comparative rate of online promotions without a good meal should be based on a loan .. 14 days to less than $ 500."

How not to solve the problem, the symptom?

Collect meditation and prayer, and I do not mean bombarding God or a higher power you believe in requests for money. I want to take the time to meet your higher self, which can be seen her life in a more balanced way, help. This knowledge can help to control the emotional things that the main reasons why the issues of balance and spending are emotional excessive consumption. Who knows, you might even be able to have direct communication with God and to straighten out their finances.

Remember that the outside world but a reflection of us inside, and we can not change our external circumstances without changing what we think in our hearts.

The need of money is usually through a combination of low income and lack of discipline consumption habits. improve take measures to their income, which usually starts with a better education. Look for ways to improve their education and learn new skills that will help you get better jobs and better paying positions. I know that it is difficult to obtain enough energy at the end of 50 to 60 hours per week of study. However, it is more likely to study the load for a better future for a limited time, rather than the worry of emergency loans in the coming years?

And with the Internet, you can make small business opportunities that never existed before.

Take a good look at where the money in the last six months. If an item is presented again and again there is no longer a one time thing. Make a budget that truly reflects your monthly and daily expenses.

If you need help a payment plan of debt with creditors to make or develop a budget, contact credit counseling service for local consumption. There are non-profit groups in every state that offer credit counseling for consumers. These services are at little or no cost. Also, check with your employer, credit union or housing authority for credit counseling programs at low or no cost.

Finally, if you decide that you need a payday loan, borrow only what you can afford to pay with your next paycheck and still have enough to make the next payday.

What are the advantages?

What are the advantages of this payday loan? It seems there are none.

With so many companies that arise every day that use this service, and thousands of people deals and even provides proof of its advantages, I have to admit that there are advantages.

To begin, often loans are really the only quick alternative to get out of financial difficulties. The rating is problematic. You can get a pretty quick yes or no answer and can be done online.


1 comment:

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