By Ben Lou
Q: I am buried in a $5K debt with Payday and Cash Easy Loans, can you help me?
A: I have always told clients who call me, getting an easy loan like one of these loans will make your lives miserable. If you are strapped for money and are thinking of taking out one of these loans, think again. You must consider how high their interest rates are and the fees they charge. Often, the rates are so high, the problems it will give you are far worse than the original problem you had before you took out the loan.
A payday loan ranges around $100 to $1,000 dollars, depending on what state you live in. Normally the loan is for 2 weeks and payment is due. The interest is usually 400-500% APR(Annual Percentage Rate) plus they charge you a fee.
If you borrowed money for two weeks on $1000 dollar, you would need to pay back around, $1,175, that’s at 456% APR. If you could not pay the whole loan in two weeks and in one payment, you would actually end up paying much more than the above.
So before you decide to take out an easy quick loan, make sure to consider other options. You may still be able to find a cheaper alternative. If you really must take one of these types of loan, you must research who can give you the lowest APR and fees. Always find out if they have hidden fees.
There are not very many attorneys who like to deal with these companies. The problem with these types of loans is that they normally do not answer the phone. They want you to leave a message so they can call you back. When they find out an attorney is calling, they will certainly not return the call.
I have one attorney who still accepts these types of loans under certain conditions. Give me a call so we may discuss.
Ating lesson, Utang na 5-6, masakit ang bayad na kapalit.
If you need help in getting out of debt, call Debt Aid Consulting International. We do not use call centers which keeps your information safe. We have a new program that reconstruct debts for half of what you would pay our competitors. We also provide legal assistance that keeps collectors away. We take Federal Credit Unions, Payday loans and high interest personal loans in our program too. This is exclusively available for Debt Aid Consulting clients. None of our competitors provide this program. You are well protected.
We only provide Federal Trade Commission compliant programs. Go with Debt Aid Consulting!
Do not fall for marketing gimmicks saying that they have the right program for you. Most marketing companies only have one program and will enroll you in that program whether it fits you or not. So beware!
Ben Lou at your service! I have over 35 years of financial experience. If you would like sound financial advice, call us at Debt Aid Consulting International. We do not use call centers. No one has the right to put your information at risk.
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