A brief, but concise page just went up over at Lazerloan.com regarding payday lenders and laws in North Carolina. The same basic rules of thumb apply for all high fee, high interest rate loans in any State, City, Town, or County. Borrower beware!
The page I’m referencing here today at Lazer Loan explains the laws in NC and how much the lender can charge you in fees and interest over the during the term of the loan. It’s important to understand your legal rights, and what a cash advance company can (or can’t) do with the lending institution(s).
As with all of our sister sites, we try and steer borrowers away from taking out a short-term loan with any company, but we do understand the is some cases people need some emergency funds. However, there is a reason consumers find themselves in desperate need of a loan.
Usually it’s because the person has made some poor spending and savings (or lack of saving) choices, and has “let things go” for too long. Most payday lenders service younger adults who have yet to figure out how to balance their budgets, and they are partying WAY too much. They’re spending more than they make every month, and it finally catches up with them in such an extreme way, that they end up having to consider a costly lending product – like a PAYDAY LOAN.
Learn more about how to budget and get your finances under control. There are some wonderful blogs that teach you exactly that. A couple of blogs I read (and they probably don’t know I’m a fan);
- My Open Wallet – Read Do You Have a Crisis Plan? (good writer, nice style, and GREAT ideas)
- Budgets are Sexy – Read Free Budget Template (very nice little templates to help you get real)
Have a good one friends, and we’ll see you back here on Tuesday – LONG WEEKEND!!! Yeah!!!
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