NapolitanoJay52

出典: くみこみックス

GET Money Until PAYDAY! . . . $100 OR More . . . Quick." The advertisements are on the radio, tv, the Net, even in the mail. They refer to money advance loans or a payday loan - which come at a very high cost. Check cashers, finance companies and other people are generating little, short-term, high-rate loans that go by a range of names: payday loans, cash advance loans, check advance loans, post-dated check loans or deferred deposit check loans. remove frames Usually, a borrower writes a individual check payable to the lender for the quantity he or she wishes to borrow plus a fee. The company offers the borrower the quantity of the check minus the fee. Charges charged for money advance loans or a payday loan are usually a percentage of the face value of the check or a fee charged per amount borrowed - say, for each $50 or $100 loaned. If you extend or "roll-over" the loan - say for an additional two weeks - you will spend the fees for each extension. Under the Truth in Lending Act, the price of payday loans - like other kinds of credit - need to be disclosed. Amongst other details, you need to obtain, in writing, the finance charge (a dollar quantity) and the annual percentage rate or APR (the price of credit on a yearly basis). Loans secured by a private check - such as a payday loan - is very high-priced credit. Let's say you write a individual check for $115 to borrow $100 for up to 14 days. The check casher or payday lender agrees to hold the check till your next payday. At that time, based on the certain strategy, the lender deposits the check, you redeem the check by paying the $115 in money, or you roll-more than the check by paying a fee to extend the loan for yet another two weeks. In this example, the expense of the initial loan is a $15 finance charge and 391 percent APR. If you roll-over the loan three occasions, the finance charge would climb to $60 to borrow $100.Where to Complain If you feel your lender has violated the law, you may wish to make contact with the lender or loan servicer to register your issues. this site