A couple of friends were in a financial fix all because of credit card misuse. Well, I shall call it abuse instead. They asked me if they could get their hands on a little quick cash to pull them through. I could think of payday loans but I wouldn't recommend it to them because they are not good with money management.
They insisted on applying for payday loans just as a short term temporary measure. They found that they could get Faxless Payday Loans which do not require them to provide any documents or go through a stack of paperwork or red tape.
This is of course so convenient for them but I asked if the interest rate would be higher. They were not sure. See, people who need payday loans are always not careful with the fine prints. Like in the case of these two friends, they got into trouble with the credit cards because they don't even know the terms when they applied for them.
When committing yourself to any financial bond, make sure you have read and understand the terms first before signing on the dotted line.
They insisted on applying for payday loans just as a short term temporary measure. They found that they could get Faxless Payday Loans which do not require them to provide any documents or go through a stack of paperwork or red tape.
This is of course so convenient for them but I asked if the interest rate would be higher. They were not sure. See, people who need payday loans are always not careful with the fine prints. Like in the case of these two friends, they got into trouble with the credit cards because they don't even know the terms when they applied for them.
When committing yourself to any financial bond, make sure you have read and understand the terms first before signing on the dotted line.
0 comments:
Post a Comment