Freedom cash lenders phone number
https://freedomcashlenders247.com/
Despite being easy to obtain, short-term cash advance loans should be your option of last resort in most cases — and not solely because of the ridiculously high fees. A less obvious danger of short-term loans is how they’re repaid.
The opposite of installment loans, short-term cash advance and payday loans are repaid in a single lump sum that includes both the principal — the amount borrowed — and all fees.
For example, a typical short-term loan of $500 could have $100 in finance charges (likely charged as $20 per $100 borrowed). On the loan’s due date, the borrower would need to repay the full $500 plus the $100 in fees for a total of $600, all at one time.
While many lenders will let you roll over your loan, it will mean additional finance charges and potential late fees, which can turn an already expensive loan into a cycle of debt that’s hard to escape. If you’re at all unsure of your ability to repay your short-term loan, find an alternative financing method.
https://freedomcashlenders247.com/
Despite being easy to obtain, short-term cash advance loans should be your option of last resort in most cases — and not solely because of the ridiculously high fees. A less obvious danger of short-term loans is how they’re repaid.
The opposite of installment loans, short-term cash advance and payday loans are repaid in a single lump sum that includes both the principal — the amount borrowed — and all fees.
For example, a typical short-term loan of $500 could have $100 in finance charges (likely charged as $20 per $100 borrowed). On the loan’s due date, the borrower would need to repay the full $500 plus the $100 in fees for a total of $600, all at one time.
While many lenders will let you roll over your loan, it will mean additional finance charges and potential late fees, which can turn an already expensive loan into a cycle of debt that’s hard to escape. If you’re at all unsure of your ability to repay your short-term loan, find an alternative financing method.
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