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Debt Consolidation ? Watch out for Payday Loans
Most any large city has a number of small shops offering payday loans. They're often found in strip centers; sometimes they double as pawn shops. They have a simple business ? they lend you money until your next paycheck. The system is pretty convenient; you write them a postdated check for the amount you're borrowing plus interest. On your next payday, they cash the check and your loan is paid off. What many people who use payday loan services fail to realize is that the interest rates charged by these firms are substantial, often reaching the equivalent of four hundred percent per year! ©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and StructuredSettlementHelp.com, a site devoted to information regarding structured settlements.
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