Payday loans often lead to more financial woes.
When you are financially strapped and facing an unexpected debt (an emergency room visit, a vital auto repair, a broken appliance), you may be feeling desperate. You might have seen commercials on late-night television for places you could go to get the money you need very quickly and with no credit check. That is tempting, since you have less-than-perfect credit that makes a traditional bank loan or credit card not an option for you. You decide that you will visit one of these so-called вЂњpayday loanвЂќ stores to get the cash to cover the unanticipated debt youвЂ™re facing.
The premise of a payday loan sounds good in theory: you can walk into an establishment, hand them a post-dated check for the amount you want to borrow plus any fees and interest, and receive the money almost instantly. Continue reading “Considering a Kentucky payday loan? Beware the many drawbacks.”