Cash the Check or Not?

Would you cash this check?

Have you ever received an offer like this in the mail? This is what I call a predator tactic and I'm going to share with you why you should never think that this is a great option to pay for bills, christmas presents or anything.

1. you will be required to pay off in 12 months with payments of $156 a month for a total pay back of over $1800 which is almost double the amount you borrowed or they loaned you.

does that sound like a fair deal to you? Not!

2. If you have $156 a month to pay these guys back then surely you'd be better off saving that money for one year to get the full amount of $1800 in your savings account that you can use.

3. You are going to be paying an extra $55 acquisition charge plus $589 even if you were to pay them back sooner in the loan agreement they do not promise that you will receive any amount of refund it says less than a $1.

I know alot of people who will be cashing the check and it really saddens me to see people think they are so desperate that this is an answered prayer but it really is only a trap to make these guys a little money and put you a little bit more in debt. So I pray that this Christmas you will stay away from loan companies and simplify what gifts you give. I personally spent about $200 for about 40 gifts and payed with cash no loans or credit cards this year. Theirs many homemade gifts that you can make and give it shouldn't matter the cost of the item n if it does to the giver than I say that's their problem because I'm trying to get out of debt.

Here's the details of such a loan. Always think twice before giving into this too good to be true type scheme because you will be paying almost twice what you borrowed and it's not worth it.


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