For people with poor or no credit, short term loans are the only option. We need to make sure to have our bases covered, to be safe from getting suckered. When it comes to short term loans, don’t be fooled by lenders offering you lower interest rates. Their contracts could have hidden fees and tricks. Educate yourself on the difference between a low interest rate liar and a transparent financial partner. Do your own research. Find out about requirements and fees. Ask questions. Ask terms to be explained for you. Don’t go with a lender who doesn’t respond or answer your questions. A lender should never contact friends, family or employees to ask for any of your personal information.
Lower interest rates aren’t everything but some lawmakers want to cap interest rates without handling hidden fees or tricks. Innocent Americans with bad to no credit are then left with going with the dishonest lender. Every American should have a right to transparent, fair credit!
