Breaking the Payday Loan Cycle

Personal Loans for Debt Consolidation

Loans Now has a variety of personal loan options that you may qualify for that could end what is usually described as a chronic debt situation.  When you need to repeatedly utilize high interest rate loans with high borrowing costs you decrease your purchasing power by decreasing your financial effectiveness.

Payday Loans

Effectively, a payday loan with a 20% interest rate reduces the value of the borrower’s dollar to $0.80 – a significant loss in value.

Currently there are an estimated 5 million consumers of payday loans in its $46 billion annual market – projected annual cost of payday loans to consumers – $3.5 billion.    If one of your clients or potential clients has to repeatedly utilize the high-cost source of funding their chronic debt situation could possibly be permanently resolved with an unsecured personal loan that would allow them to consolidate his or her high-cost financial obligations.  If you are interested in reviewing a list of possible products, please click on the following link.  

Effective regulation to ensure you client isn’t paying an excessive interest rate for their short-term financial needs shouldn’t be left to agency enforcement.  You could potentially protect them predatory lending practices by presenting them with an alternate source of funding.