Are those payday cash advance loans real?
You know those ads for payday cash advance, "get fast payday loan" where they say they will put funds in you bank acct by the next day – are those trustable??? Or can it get you in trouble. Any info would be appreciated.
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You can get into BIG trouble,They are legit but they don’t fall under the guidelines of any local or federal regulations.They are essentially Glorified loan sharks and can charge as much as 50%.So when you get your pay check,expect half to go to repay your loan.
They are trustable yes. However, its only good if you really just need an advance until your next payday AND can afford to pay off the advance plus the extra charges at that time. They will make it seem like you can make payments on them but there not really payments. Every 2 weeks or so you will pay a finance charge and this payment of usually around $50 will not lower your payment. After so many payments you will sometimes start paying the finance charge plus like $50 to put towards your balance. In the end of doing all of this you will have paid like 4x more than the actual loan.
Really its not something I would recommend often and it can be a lot of interest payments. But maybe theres no alternative. Good luck.