Friday, November 19, 2010

Payday Loans

Personally, I don't recommend choosing payday loans because it can wreak on person's financial life. This kind of loans carries a high interest rate and has extreme penalties if you missed or late your payments. There's other way to loan money without being ripped off from high APRs, like for example, getting a loan from your employer. I've learned that some large companies offer low interest cash advance one or twice a year. Some banks also offer cash advance to their customers. Cash advance usually is cheaper than payday loan. You can check in your bank on how cash advance works. Some article that I read claimed that for cash advance through your bank, you take out cash from your bank and pay it back next time there's a direct deposit in your account. So you can never forget paying it because it's automatically taken from your account once you have money there.

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