How To Find a Legal Loan Shark
- September 3, 2008
- 10,301 Views
Writer
Rosemarie_Lennon
Music
Edison Music Corp
Voice Over Artist
Sri Gordon
Looking for fast cash with no questions asked? There are legitimate ways to get it, if you’re willing to pay the consequences.
You Will Need
- A credit card with unused credit
- A tax refund
- A car
- A small loan company
- A signature loan company
- A payday loan
Step 1: Consider a cash advance
If you have a low-interest credit card you haven’t maxed out, consider taking a cash advance. But check your interest rate first — some are as high as 33%.
Step 2: Get an advance on your tax refund
At tax time, you can get a “refund anticipation loan” from some tax preparers. Just realize you’ll be forfeiting about 10% of your refund check just to get the cash a couple of weeks earlier.
Step 3: Use your car as collateral
Get what is known as a “car title pawn” — if you can stomach an annual interest rate of up to 360%. The amount you can borrow is way less than the value of your car, but you get to keep driving it unless you miss a payment.
Step 4: Visit a licensed lender
Borrow money from a licensed small loan company, or head to a signature loan company, which won’t require you to put up any collateral. Both could charge you up to about 48% in annual interest.
If you’re a member of the military, don’t resort to high-interest lenders before finding out if your branch of the armed services offers financial help.
Step 5: Secure a "payday loan"
Secure a “payday loan” — a cash advance against your paycheck. But check your local law at www.paydayloaninfo.org before you do; some states limit the amount of interest that these lenders can charge, while others don’t — which explains why the average annual interest rate on these loans is a whopping 460%.
Seventy percent of Americans live paycheck to paycheck, making them vulnerable to predatory lenders.
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Comments (2)
Hey send me an email to LCVINC@gmail.com or call me at 786-220-0030 or 786-220-0004.
I only deal with people in Miami, Fl, Broward. I am the lender. not a broker.
I am a real person with real money. Deal with me if you're tired of all the bs, websites and banks.
Contact me now for terms and rules.
Thank you,
about 1 year ago by Samuel_Pichardo
Hi there do know any lender here Califorina, that my can help me if do can u please let me know
6 months ago by browneyes6217
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