The Truth About Guaranteed Payday Loans
Guaranteed payday loans are temporary loans that are designed to get you to your next pay check. Getting a loan of this type is very easy and fast, in fact you can usually secure funds within one business day. You can often secure funds on the spot, as long as you are trying to get the loan in the store, as opposed to online.
If this is the type of loan you're going to get, do some good research before you pick a lender. If the service is legal in your state, you have probably seen quite a few payday loan stores around. If it's not, you probably haven't.
The amount of interest you can expect to pay with loans of this type is generally about ten percent of the loan amount. Since the loan term on these loans is generally only two weeks, that's a lot of interest.
If you take out this type of loan, you have to make sure that you can pay it back within a reasonable time frame. If you don't pay it off on time, fees and interest will really start to stack up.
Some lenders will automatically withdraw your payment from your checking account, and others will ask you to write a post dated check. Either way, lenders usually want you to come back in to make the payment yourself.
In order to avoid a ton of extra fees, make sure that you can pay back the loan on time. People often end up paying late fees, and sometimes bounced check fees from their banks because they don't have the funds to cover the post dated check.
While these loans are extremely easy to get, make sure that you're very careful. People sometimes get stuck paying thousands of dollars in fees and interest on a loan that was only $500. Make sure that you can pay off the entire loan with your next pay check.
If this is the type of loan you're going to get, do some good research before you pick a lender. If the service is legal in your state, you have probably seen quite a few payday loan stores around. If it's not, you probably haven't.
The amount of interest you can expect to pay with loans of this type is generally about ten percent of the loan amount. Since the loan term on these loans is generally only two weeks, that's a lot of interest.
If you take out this type of loan, you have to make sure that you can pay it back within a reasonable time frame. If you don't pay it off on time, fees and interest will really start to stack up.
Some lenders will automatically withdraw your payment from your checking account, and others will ask you to write a post dated check. Either way, lenders usually want you to come back in to make the payment yourself.
In order to avoid a ton of extra fees, make sure that you can pay back the loan on time. People often end up paying late fees, and sometimes bounced check fees from their banks because they don't have the funds to cover the post dated check.
While these loans are extremely easy to get, make sure that you're very careful. People sometimes get stuck paying thousands of dollars in fees and interest on a loan that was only $500. Make sure that you can pay off the entire loan with your next pay check.
About the Author:
Trinity teaches individuals how to get quick guaranteed payday loans and about many other types of bad credit loans.
posted by Credit Counseling at
12:39 AM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home