March 13, 2007 The Chicago Sun-Times ran an editorial related to payday cash advance loans with an interesting perspective.
We all know that payday loans are expensive short term financing alternatives but no one looks at the APR for a $26 late fee on a $100 credit card bill. NSF charges by banks and retailers can be outrageous on returned checks. Additionally, if your utilities get shut off and you have to pay the $50 reconnect fee. What is the APR on that $100 past-due account?
Payday loans may not be the cheapest source of cash but in many circumstances, it can be the cheaper alternative.
We all know that payday loans are expensive short term financing alternatives but no one looks at the APR for a $26 late fee on a $100 credit card bill. NSF charges by banks and retailers can be outrageous on returned checks. Additionally, if your utilities get shut off and you have to pay the $50 reconnect fee. What is the APR on that $100 past-due account?
Payday loans may not be the cheapest source of cash but in many circumstances, it can be the cheaper alternative.
If you find that you are in a bind, you are looking for a payday cash advance loan, please borrow responsibly.
No comments:
Post a Comment