Comments on: Layoffs Hit Close to Home http://itknowledgeexchange.techtarget.com/it-jobs/layoffs-hit-close-to-home/ Sat, 18 May 2013 18:04:50 +0000 hourly 1 By: Edtittel http://itknowledgeexchange.techtarget.com/it-jobs/layoffs-hit-close-to-home/#comment-83 Edtittel Fri, 15 May 2009 12:57:31 +0000 http://itknowledgeexchange.techtarget.com/it-jobs/?p=223#comment-83 Whooooooooooooooa there, Abby. Payday loans can be a ticket straight to trouble and bankruptcy too: they usually require regular small payments but charge interest rates as high as 40% in some states. Military familiies in particular have been so victimized by these sometimes predatory lenders that Congress has passed special legislation to limit how much interest payday loan companies can extract from families with one earner on active duty, or active reserve duty.

Don’t even THINK about getting a payday loan until you read at least two of these articles:

1. Collections Law: Understanding payday loans http://en.allexperts.com/q/Collections-Law-912/Understanding-payday-loans.htm

2. Understanding payday loans
http://www.nextdaycheck.com/blog/payday-loans/understanding-payday-loans/

3. Payday loan http://en.wikipedia.org/wiki/Payday_loan

4. Beware of Payday Lending http://www.fool.com/investing/dividends-income/2005/01/31/beware-of-payday-lending.aspx

Bottom line: unless it’s a payday loan or inescapable doom, don’t get a payday loan. They’re far too often a ticket to ruined credit, personal bankruptcy, and perhaps even jail time.

–Ed–

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