So if you borrow 300, it costs you 15 up front just to get the money. But even so, cash advances are less exorbitant than payday loans. The 15 fee is stiff, but you only pay it once you dont keep paying it every two weeks until you pay back the loan. And the 24 interest is nowhere near the 300 or more of most payday loans. Borrow Against Life Insurance. If you have a life insurance policy with a cash value, you can borrow money and use the policy as your collateral.
This only works for permanent life insurance policies (whole life or universal), which double as investments. You cant borrow against a term life insurance policy, which is the cash converters payday loan apply online common kind. Borrowing against your life insurance has several advantages over borrowing from a bank.
These include: No Need to Apply.
:) Veronica, glad I could help a bit. And good for your own bankruptcy attorney for knowing it was a scam. Aren't payday loan companies fun. I file for chapter 7 in February 2014. It was discharged in June 2014. Now I'm starting to get calls from a payday loan that I got on line.
I mention I filed chapter in 2014. They said they pulled my bankruptcy file and I did not mention their company on it. They threaten to sue me for fraud and check theft. Also, they will send summons from sheriff department for garnishment of my wages.
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