Comments on: FDIC Survey Proves Payday Loan Customers Are Intelligent http://www.bloggernews.net/123235 High-quality English language analysis and editorial writing on the news. Sun, 27 May 2012 12:11:09 +0000 http://wordpress.org/?v=2.3.3 By: Process USA http://www.bloggernews.net/123235#comment-1465198 Process USA Sun, 13 Dec 2009 21:14:04 +0000 http://www.bloggernews.net/123235#comment-1465198 While payday loans are good in terms of, you can get a loan almost instantly, it's a very easy and simple process. You can also get a loan if your credit isn't so good. However there are disadvantages to it too. You cannot take out as much money as you would on a small term loan, there is a limit on what you can take out. The interest rate on a payday loan is also extremely high. The interest rates starts at 390% and it can reach a maximum level of 780%. While payday loans are good in terms of, you can get a loan almost instantly, it’s a very easy and simple process. You can also get a loan if your credit isn’t so good. However there are disadvantages to it too. You cannot take out as much money as you would on a small term loan, there is a limit on what you can take out. The interest rate on a payday loan is also extremely high. The interest rates starts at 390% and it can reach a maximum level of 780%.

]]> By: And the Law says.... http://www.bloggernews.net/123235#comment-1463129 And the Law says.... Fri, 11 Dec 2009 08:56:37 +0000 http://www.bloggernews.net/123235#comment-1463129 They have all but shut down the payday loan places where I am. I find that stupid and the reasoning behind it even stupider if such a thing is possible. The interest rate on a payday loan is no higher than the interest rate on some credit cards, especially now with the credit card companies raising their rates before the new laws go into effect. Plus trying getting a loan at one of those banks. Impossible. They have all but shut down the payday loan places where I am. I find that stupid and the reasoning behind it even stupider if such a thing is possible. The interest rate on a payday loan is no higher than the interest rate on some credit cards, especially now with the credit card companies raising their rates before the new laws go into effect.

Plus trying getting a loan at one of those banks. Impossible.

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