What are the disadvantages of PayDay Loans or Cash Advance Loans in India ? Borrowers Beware!
Payday loans, also known as cash advances, are short-term loans that are designed to help borrowers get through financial emergencies. While these loans can be helpful in certain situations, they also come with a number of disadvantages that borrowers should be aware of before applying. High Interest Rates One of the biggest disadvantages of payday […]
How one borrower Muthu lost a lot by Bad pay Loan Lenders
Muthu was a hardworking man who had always been careful with his money. But when his wife fell ill and needed expensive medical treatment, he found himself in a difficult financial situation. With no savings and no other way to pay for his wife’s treatment, Muthu turned to a payday loan. The payday loan seemed […]
Payday Loan Debt Cycle and ways to avoid it
Payday loans are short-term, high-interest loans used to pay for your costs up until your next paycheck. By issuing loans with exorbitant interest rates, payday lenders are able to boost their earnings, but many consumers are unable to repay them. Due to this cycle of increasing borrowing each pay period and increasing costs to pay […]