Short-Term or PayDay Loans

Author: Stanley T. Crawford

Short-Term or PayD ay Loans By Stanley T. Crawford

Short-term loans, payday loans, and cash advances, these are
often frowned upon by some people. Yet there is a large market
for these loans. Most advice concerning these loans is not to
obtain them, however the fact remains that thousands of people
obtain these loans every month. If they weren’t profitable,
places like ACE, Cash America, and other businesses wouldn’t
provide these loans.

If they are such a disliked product then someone should step
forward and help people who get these loans. The help cannot be
purely to tell these individuals that they should seek credit
counseling, but it has to consist of monetary help, as well.
Most people who get these loans already know they need financial
canceling, but they also know that their immediate situation
needs to be addressed. Normally, this requires CASH.

With all that said, if an individual has determined that a
short-term loan is the best avenue available, then like anything
else one should make the best informed decision for his or her
given predicament.

When considering a short-term loan, ask yourself these 7
questions:

1.What amount of money do I need?

2.When can I pay this money back (principal and fee)?

3.What are the repayment terms?

4.Can I meet these repayment terms? (use a calendar, and your
budget)

5.Am I pursuing counseling or planning to pursue counseling, so
that I don’t have to continue to utilize these short-term loans?

6.If I can’t pay the principal and fee, then can I pay the
extension fee? (use a calendar and your budget)

7.Is this loan new or is this my 1st, 2nd, or 5th time borrowing
from a short-term loan source?

About the author:
Copyright 2003, Stanley T. Crawford, is the webmaster of “Get
Money” @ http://www.getmoney.giftadollar.com. “Get Money” lists
sources of short-term loans, home equity loans, student
consolidation loans, and credit care sources. All Rights
Reserved. mailto:cigllc@yahoo.com