Comments on: Is it true I can transfer my payday loans to a personal loan I have with a finance company? http://www.paycheckloancenter.com/2009/01/is-it-true-i-can-transfer-my-payday-loans-to-a-personal-loan-i-have-with-a-finance-company/ Everything you want to know about Payday Loans and Cash Advances Sun, 05 Feb 2012 09:57:57 +0000 http://wordpress.org/?v=2.7 hourly 1 By: chey_one http://www.paycheckloancenter.com/2009/01/is-it-true-i-can-transfer-my-payday-loans-to-a-personal-loan-i-have-with-a-finance-company/comment-page-1/#comment-183 chey_one Fri, 16 Jan 2009 05:53:01 +0000 http://www.paycheckloancenter.com/2009/01/is-it-true-i-can-transfer-my-payday-loans-to-a-personal-loan-i-have-with-a-finance-company/#comment-183 They aren't actually "transferred" - you can seek to get a loan from any other lender - bank, finance company, credit union etc - to pay the ck loans in full. Granted finance companies rates are higher than banks and credit unions, but nothing like as high as payday loans and check advances (basically the same entities). Payday loans are generally at approximately 400 % apr, while finance companies are much much lower. Big deal issue is KNOW TO NEVER GO BACK TO A PAYDAY LENDER - it is a vicious cycle. One that leads many people to bankruptcy. They aren’t actually “transferred” - you can seek to get a loan from any other lender - bank, finance company, credit union etc - to pay the ck loans in full.

Granted finance companies rates are higher than banks and credit unions, but nothing like as high as payday loans and check advances (basically the same entities).

Payday loans are generally at approximately 400 % apr, while finance companies are much much lower.

Big deal issue is KNOW TO NEVER GO BACK TO A PAYDAY LENDER - it is a vicious cycle. One that leads many people to bankruptcy.

]]> By: SterlingRose7 http://www.paycheckloancenter.com/2009/01/is-it-true-i-can-transfer-my-payday-loans-to-a-personal-loan-i-have-with-a-finance-company/comment-page-1/#comment-182 SterlingRose7 Tue, 13 Jan 2009 07:16:39 +0000 http://www.paycheckloancenter.com/2009/01/is-it-true-i-can-transfer-my-payday-loans-to-a-personal-loan-i-have-with-a-finance-company/#comment-182 There maybe a finance company that will refinance your payday loans but the interest rate will still be pretty high. I would urge you to look at your overall spending and cut out the non necessary items and spending. But using payday loans and finance company loans, the items that you are buying are actually costing you almost double of what the price tag says. Also, payday loans and finance companies usually sink a consumer financially so that they are dependant on them. I would get out of the cycle ASAP and save yourself thousands of dollars. There maybe a finance company that will refinance your payday loans but the interest rate will still be pretty high. I would urge you to look at your overall spending and cut out the non necessary items and spending. But using payday loans and finance company loans, the items that you are buying are actually costing you almost double of what the price tag says. Also, payday loans and finance companies usually sink a consumer financially so that they are dependant on them. I would get out of the cycle ASAP and save yourself thousands of dollars.

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