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PAYDAY LOANS VS. INSTALLMENT LOANS: COMPLETE GUIDE:- REAL PDL HELP

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Real PDL Help
PAYDAY LOANS VS. INSTALLMENT LOANS: COMPLETE GUIDE:- REAL PDL HELP


As new rules and regulations are being proposed for payday loans, lenders are shifting their focus to installment loans. Be aware of what’s out there and what loans you’re considering. Real PDL Help, the top-rated payday debt relief company works with lenders to eliminate high-interest charges and fees on payday loans. As new rules and regulations are being proposed for payday loans, lenders are shifting their focus to installment loans. While the two loans have their differences, they both have one key similarity ­ they result in the borrower winding up deeply in debt. Nick Bourke, Consumer Finance Project Director for Pew noted that by simply converting to installment loans, that doesn’t mean individuals will be able to afford them. “They can still have dangerous interest rates and fees,” he said. So, before you decide to turn to installment loans over payday loans, make sure you understand what you’re getting into.

A Payday Loan

  • Is a short­ term loan, typically ranging from $100­ $1,000.
  • Has average interest rates of 400% or
  • Requires payment due at the time of the borrower’s next
  • Typically has a loan period of no more than 30
  • Can be repaid at any time during the loan
  • Is typically unsecured, and the lender assesses the borrower’s ability to repay the loan based on previous recent paychecks the borrower provides to the
  • Is repaid either through a post­-dated check (provided by the borrower at the time the loan is made), or by automatic electronic withdrawal once the borrower’s paycheck has been deposited in their bank

Be aware of what’s out there and what loans you’re considering. Protect yourself and your finances. If you’re already overwhelmed by the payday loan debt trap, contact us today. We can help!

Read More:- https://realpdlhelp.com/payday-loans-vs-installment-loans/


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