Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter

 

redhotloantips fat loss


Payday Loans

Written by: Sara Chambers

You see them in every strip mall east and west of the Mississippi: Cash Advance, Cash-N-Go, Check Into Cash, Urgent Money Service, and the list continues. What exactly are these businesses that seem to offer you money right when you need them? They are cash advance companies which often make loans commonly called payday loans. In many ways, these companies have become the country's modern day loan sharks. No, they will not cut off your thumbs or pour cement around your feet and make you swim with the fishes. They will, however, torture you with fees, upon fees, upon fees.

So what is a payday loan? A payday loan is a cash advance loan. The loan in itself is held by a personal check. For example, you could write a personal check for $135 in order to borrow $100. The check casher will agree to not cash the check often for fourteen days. This can be extended if needed, but not without a charge. Many people use it to bridge the gap between pay checks. But the Federal Trade Commission calls it "Costly cash," and for good reason.

Using the example above of a $100 loan for a check of $135, you will see when the math is done how truly costly a Payday Loan is. When you are in desperate need, the $35 seems miniscule. But, when you consider that this charge will occur every fourteen days if you do not pay, this equates to 650 percent APR. A bad credit card will offer you 28 percent APR. When you choose this option, you are going to pay much more in charges and interest and could find yourself even deeper in debt.

So what are your alternatives? If you seriously cannot make it until next payday, there are other options you may have instead of taking out apayday loan. Sort your bills. Choose which ones can wait until next pay day and make them wait. If you have creditors, you can negotiate a new or temporary payment plan to see you through.

About the author:

Sara Chambers is a marketing consultant and an internet content manager.


Other Related Articles:

Tips for Finding a Low Interest Online Loan
When looking for a low interest online loan you might find yourself wondering if you're ever going to find the loan you want. With all of the different types of loans available, it can seem somewhat confusing at first to look at the websites of...read more

The Benefits of a Debt Consolidation Home Loan!
As the amount of people who are in debt in the UK continues to rise, people are finding themselves simply overwhelmed by their mounting debt problems. Many people have a variety of debts and their monthly budget cannot cover the amount of money...read more

Homebuyer's Loan Guide
If you are a first time homebuyer, there are a few points on a loan for homebuyers that you should keep in mind. These pointers simply ensure that you donít burden yourself with a loan or the repayment and that you can get a justified return. The...read more


Return to Home

468x60

Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map