PaydayLady.com Explains The Truth About Payday Loans

The cash loan experts at PaydayLady.com recently posted a new article explaining the truths about cheap payday loans. Many websites promise the cheap part, but the truth is payday loans can be quite expensive if they are used too often.

Websites are quick to point out how fast a person can apply for a payday loan, but with that speed comes a hefty interest rate. Most companies end up charging between $15-$20 extra per $100 borrowed. A two-week max loan with an APR of close to 400% sure does not sound good on paper. That is why PaydayLady.com decided to take the time to explain the pitfalls of relying on these types of loans too often.

Another trick, as explained in the article, involves companies renaming payday loans. No faxing payday loans, military payday loans, cash advances and more are all the same: high interest quick loans for individuals in need of cash.

The Payday Lady was put together to make the information available for potential customers everywhere. There is not some lending sponsor behind the website, but instead a host of experts who specialize in helping people stay out of debt. The goal is to continually provide new articles that help explain the truth to these popular loans.

Companies continue to set people up with flashy text and suggestions when it comes to borrowing money. They usually tend to avoid the dark side of payday loans, which could end up doing more harm than good in the long run. As long as customers understand the risks of these loans, they can make sound financial decisions for years to come.

To read the entire article about cheap payday loans, or to browse the rest of the website, visit http://www.paydaylady.com/payday-loans/cheap-payday-loans/.

About PaydayLady.com:

Unlike most payday loan websites, PaydayLady.com aims to help people make sound decisions before signing the dotted line for a lending company. By providing the real truths to borrowing money, users no longer run the risk of falling more and more into debt.

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Eric Fields

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