Sell your salary. Payday lenders are all committed to give you a loan quickly, without credit checks.
The problem is that payday lenders are charging astronomical. In some cases, the fees correspond to annual interest rates of up to 651%.
Payday loans is to lend short-term amount of money ranging between $ 100 and $ 500. Charge between $ 25 and $ 50 for every $ 100 may be required.
Thereafter, the loan and fees must be paid in whole or in part, two weeks later.
To share best practices, often dubious, payday lenders, the Journal de Montréal called four companies – APX, Credit Yamaska, Brokerage Expert and Axevia – that appear in the classifieds on the Internet or in newspapers.
The representative told the Journal’s net earning $ 650 every two weeks for a year working as a saleswoman in a store outdoor Montreal.
Payday lenders have offered loans of 200 to $ 500 with the cost of borrowing up to $ 160