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ABOUT: Once you find a lender, you can apply for a loan, securely online. The lender will verify your employment status and income. Applicants must be at least 18 years or older, to qualify for a loan. Banks do not offer loans to minors, under 18 years of age. In addition, some lenders require applicants t..
SUMMARY: Although the interest rates on payday loans are extremely high, it's important to know that the government governs the interest rates. The government knows that payday lenders have a higher risk of default when they are compared to other creditors out there. This is why they can charge much higher than normal interest fees. Make sure you understand the payday loan agreement completely before signing on the loan. There might be extra charges or fees that might make it harder for you to pay the loan back. Although it may take longer to get the money from these lending institutions, you'll save a lot more money because the interest rates and fees on these financial institutions aren't as high as payday loans. If at all possible, see if you can borrow money elsewhere, as it is common to pay up to 300 percent in interest on an annual basis. You may still wish to borrow the money, but you should be aware of the ultimate costs. The amount you can borrow from payday loan will vary. This depend..