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Interest rates on payday advances can add up to between 300% and 3,000%. Payday advance loans can be dangerous because they have a 10-20% default rate on average.
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∙ 12y ago
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How can you be approved for a payday loan?
Most payday companies will approve anyone, as that is their business and in their interest to do so. The catch here is that they will charge you over 700% interest, this is just for those with good credit. If you have bad credit, the rates will be much higher.
Where and how do you apply for payday loans?
Payday loans can be found at retail stores that specialize in payday loans in most cities. For example, AMSCOT is a financial service company that does payday advances.
Can a payday loan company take you to court in the state of Maryland?
Payday lending is illegal in Maryland due to the fact that the interest rates greatly exceed the 33% interest rate cap. Any lender who does business in Maryland must be licensed by the Maryland Commissioner of Financial Regulation. Chances are, your payday loan was via internet. They would have no authority to sue you in Maryland, as their interest rates are too high and they are most likely not a licensed business in Maryland. This won't keep them from threatening you. You can report them to the Commissioner of Financial Regulation also, and they will initiate an investigation on illegal payday lenders.
Are the Cash Express advertisements correct that you can get a payday loan even with bad credit?
You can most certainly get payday loans with any type of credit. With bad credit you will run into high interest rates on everything which leaves you paying more than you should be in the end.
What interest rate does Pounds till Payday charge?
Most of the cash until your payday companies have a lower interest rate if you pay when you say you will. It's usually 3 or 4 percent interest rate.
How can you be approved for a payday loan?
Most payday companies will approve anyone, as that is their business and in their interest to do so. The catch here is that they will charge you over 700% interest, this is just for those with good credit. If you have bad credit, the rates will be much higher.
Can I stretch my payments from a low interest payday loan several months?
Payday loans don't offer loans that are as much as $3000 dollars. They only offer a few hundred dollars at most, and the interest rates are around 20 to 40 dollars.
Where and how do you apply for payday loans?
Payday loans can be found at retail stores that specialize in payday loans in most cities. For example, AMSCOT is a financial service company that does payday advances.
What are some advantages and disadvantages of payday cash advances?
Some advantages are that you get the money you need fast, its easy to get a payday advance, and they are renewable. Some disadvantages are, you pay a much higher interest rate, and most don't report to credit bureau's.
Where is a cash loan company with cheap interest rates?
Most of the quick payday loan companies have interest rates that aren't too high if you pay it right when you get paid. I think that you can borrow up to 200 dollars with only paying back 20 dollars interest or so.
Do you get the same rate on credit card cash advances as you do on purchases on that card?
It depends on the credit card. Most of the time, cash advances are subject to a higher interest rate than purchases. Credit card interest rates are higher on cash advances. Check your card for specific details.
Can a payday loan company take you to court in the state of Maryland?
Payday lending is illegal in Maryland due to the fact that the interest rates greatly exceed the 33% interest rate cap. Any lender who does business in Maryland must be licensed by the Maryland Commissioner of Financial Regulation. Chances are, your payday loan was via internet. They would have no authority to sue you in Maryland, as their interest rates are too high and they are most likely not a licensed business in Maryland. This won't keep them from threatening you. You can report them to the Commissioner of Financial Regulation also, and they will initiate an investigation on illegal payday lenders.
Are the Cash Express advertisements correct that you can get a payday loan even with bad credit?
You can most certainly get payday loans with any type of credit. With bad credit you will run into high interest rates on everything which leaves you paying more than you should be in the end.
What interest rate does Pounds till Payday charge?
Most of the cash until your payday companies have a lower interest rate if you pay when you say you will. It's usually 3 or 4 percent interest rate.
What is one business where one can get payday loans with no credit check?
The most well known payday loan business is MoneyTree. They will approve your loan quickly with proof of employment. Interest rates are higher than other less reputable lenders, but MoneyTree is known for being reasonable.
Is prime rates the same as interest rates?
Prime rates are the interest rates most banks charge their customers for loans while interest rates are the rates charged to borrow money and come in many forms.
When the federal reserve board lowers interest rates it most likely attempting to?
lower interest rates.
