Advantages and disadvantages of getting a personal loan

The check will be for the amount youre borrowing, plus additional interest and fees. They will provide you with a cash loan, and on your next payday they will cash your check to get their money back. The process is easy enough, but is it safe. Cash loan finance company, not quite.

The problem with these loans is that the interest rates are extremely high, which makes it difficult to pay them back on time. In a Dayton Daily News article, Tim Brandon, a spokesman for Graceworks Lutheran Services Consumer Credit Counseling Service says …the combination of high interest rates and low incomes of most payday borrowers can quickly lead to a cycle of debt thats worse than the financial problems that led them to seek out a loan in the first place.

The article also states that there are 836 payday loan storefronts in Ohio that generate more than 500 million in fees every year by charging annual rates of over 300.

Advantages and disadvantages of getting a personal loan

Whatever your reason, we respect your privacy. Thus, we work with lenders familiar with your situation and are ready to help.

Important Disclosures. Please Read Carefully. This service is not available in all states. If you request a loan in a particular state where such loans are prohibited, or in a location where WhiteRockLoans.

Advantages and disadvantages of getting a personal loan

Reasons for needing money range from critical automobile maintenance, unexpected medical expenses, much needed family vacation, basic home improvements, etc. Whatever your reason, we respect your privacy.

Thus, we work with lenders familiar with your situation and are ready to help. Important Disclosures. Please Read Carefully. This service is not available in all states.

Advantages and disadvantages of getting a personal loan