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Showing posts from September, 2020

Payday Loans : Are They Really That Bad?

Payday Loans - Guardians of Life in a Stormy Sea or Fodder in Shark-Infected Water? It depends on who you ask. Providing a way for people with limited means to use cash for emergency expenses seems nice on the surface, but Payday loans are not as easy.  Some argue that they are hunters, taking advantage of people in dire need of cash with small repayment windows and hefty fees. Others either trust them to meet them or argue that Payday loans have a higher APR claim than the argument that rental cars have higher APRs. Payday loans are an institution in the United States since the 1980s, but do they help or hurt that in need? The answer seems to be more than the latter; with twelve states completely banned, payday loans may soon be a thing of the past.  For those who see themselves in need of quick cash, there are many options in which loans are lower, which are less risky, and when combined with healthy financial planning and debt improvement activities, the borrower is likel...