By Micah Richard
I was speaking to my father-in-law. He is an arbitration lawyer. He has been bothered lately with some of his cases. I got talking to him. He told me payday loans can charge up to 59%, and has seen more and more payday loan representatives suing those who can not make their payments. The main reason people can not make their payments, is because the interests rates are to high to manage for them.
We see advertisements for getting our money now. The lender will pay your bills, or give you an advance on your tax return. Yes, it is true, you can get the money now, and you don’t have to wait for the return and you do not need to wait for any late payment charges to your credit card.
The money needs to be paid back. The industry is not much less than highway robbery for the naive.
Avoid all payday loans! Please do not fall in these traps. They will take you to court, and they will usually win. You sign the contract with them, once they give you the money or check.
Most of all learn to budget and manage your daily expenses. If we can manage what we do in a day, we can manage what we do all yea
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