6 comments
EdTurlti
EdTurlti

It's time people stop placing all of the blame and negativity on these types companies. Not all of them are trying to rip people off, there are many reputable companies out there who lay out all of the fees so that you are aware of what you are getting yourself into. Yes the fees are high, but that is just the cost of doing business when it comes to a high risk loan. When I need a bit of financial help I like to use https://www.focusfinancialcorp.com/

johnnytakescash
johnnytakescash

It is really difficult to get a bank loan if you have a bad credit score. Since many people have bad credit these days, people are opting for payday loans. These loans are instantly available on very easy terms. The only downside to these loans is the high rate of interest. However, if you take a small amount and return it on time, this will not be a problem for you.


1neekehurley
1neekehurley

I agree there is a cloak of non disclosure . Some of these acts and laws were designed for small businesses. But the price for the consumer to do business is too risky. You will end up worse off

richards
richards

I think people should also be aware about the terms and agreements when they're applying for short term loans. If they only borrow the amount that they can pay back on their set repayment date, I don't see how a person can get into a huge debt. It's clear that it's only a short term solution to a financial bind, so people should be aware of that before they even sign up for the service.

ClearView
ClearView

If people are having such a hard time with overdrafts or payday loan fees, they’ll continue to flounder until they learn to balance their checkbooks and budget their bills. The last thing they should do it look to Congress for protection, which has repeatedly put the banks first. We need to help each other at the community level with our credit issues, and look to those we can trust.

DuganEnterprises
DuganEnterprises

I think it is important to do your research. Any reputable lender is going to list rates and fees up front on their website. If you are unsure about how personal loans work, do your homework on sites like bankrate.com and wherecanigetapaydayloan.com . An informed consumer stands much less chance of being duped!