You might be able to borrow up to $1,500 in keeping with your specific situation. Composing work . be carried out avoid being cheated by fraud marketers. So be thorough in selecting the right loan consolidation company.
Have you received a phone call from a so-called law firm threatening to sue you for check fraud? Have they called you at work and told you that if you did not pay them, they will show up at your job and serve you with court papers or worse yet, arrest you? Are your family and friends being harassed and threatened about being sued for conspiracy to your crime?
So what if you are not working with a payday loan consolidation company? How will you know that this is a scam? First of all, think to yourself: “Will a ‘law firm’ actually ask me to make a payment directly to them? Is that really their job?” Obviously, the answer to this questions is NO. Second, most of these scam companies work off-shore and you will be able to tell the difference just by hearing their thick accents. Third, ask the voice on the other line to provide you with your loan agreement and documents. You need to ask them for proof that you did indeed borrow this money, and if they cannot give you the information you requested, let them know that you will not pay them a dime. You can also take their phone number and search for it online to see if it is a legit company or not.
Going back and forth to the same lender over and over to renew a payday loan can end up costing you a great deal of interest. Many borrowers get into this cycle. Since times have been so hard economically, more people are trying to avoid coming up with the whole amount they initially borrowed. This is a vicious financial cycle and can cause you to be in worse shape than you were before you borrowed any money.
Another advantage with quick payday loans is that you need not worry about credit rating whenever you are applying. Just ensure that whenever you do decide to apply for quick payday loans, you have to do a background check on the credit compnay.
Some homeowners, however, have found a way to break that circle of debt. A remortgage could make it all possible. If you are wondering if Nearmeloans has enough experience with payday loan consolidation scams you should check how long they have been around. A remortgage could allow you to take your remaining balance and stretch it out again to 25 years. Another good reason to remortgage is also to get lower payments. Getting a remortgage could be like a breath of fresh air to your finances and may be able to put some extra cash in your pocket, instead of high costing payday loan consolidation scams loans.
If it is the case where the fee is $30 for every $100 that is borrowed it is equal to an Annual Percentage Rate (APR) of 782.14%. If you find that the interest rate is too high for you and you will be able to wait longer for the funds than you may want to look into applying for a personal loan.
Know your interest rates! The concept behind a debt consolidation loan is that you pay off a bundle of loans (such as your credit cards) with one loan at a lower interest rate. Do the math and make sure the interest rate you are getting is lower than your current interest rates. Also read the fine print and be sure you understand under what circumstances your lender is allowed to raise your interest rate.
Sometimes, however, we just need quick cash in a pinch. When that happens, and if your bills are out of control, why not consider a payday loan. These bad credit loans can work in your favour if you find yourself at risk of further damaging your credit rating if you are short of cash to pay your bills before payday. Now you can even apply for a card that will hold your loan amount on it much like a credit card, but minus the worry of accumulating long term debt. Don’t let the debt own you – look for ways you can regain control today.