Maybe it’s the word “easy” that grabs attention.  After all, when you need a quick loan to replenish a short cash supply, the thought of it being “easy and fast” is very attractive.  But when it comes to credit, those words should spell danger.

Nothing worthwhile is easy and fast.  Even winning the lottery takes time to collect your money.

So beware when predatory lenders offer easy and fast solutions.  You should be cautious of lenders who offer you:

  payday loans,

  auto title loans or

  refund anticipation loans

How they “get” you:  this is the typical recipe leading to financial disaster:

TAKE ONLY a pinch of Education about temptations to spend

ADD Regular money

MIX with Lack of credit history

POUR INTO WELL GREASED Installment loans at high interest rates as only option

BAKE until financially un-DONE

1)    Car dealerships, cash advance businesses, furniture stores and electronics dealers all offer a tantalizing array of buy now-pay later options,

2)    Lenders have access to private information and bank account info which will give them powerful and possibly embarrassing leverage if you cannot pay.

3)    They target you especially if you are in the military or any other place with a guaranteed paycheck.

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