The traps, when you are looking for a quick tenant cash loan or any other overnight cash advances
If you thought that applying for a quick tenant cash loan, overnight cash advances or any other quick money loans, that you are going to get the normal interest rate, you are wrong. If anything, those loan companies are actually going after people who target these types of loans, more than others types. You always notice that those loan companies always advertise about how quick their loans are and how flexible their interest rates for those loans are. Their loans are quick if anything. But are they really that flexible?
The answer is no. To understand why they aren't, I will first explain to you about why those loan companies purposely invented those quick tenant cash loan, overnight cash advances and all those other quick money loans. In reality, there are many people that need money instantly. They need it within one to two days. The banks can't give them these types of loan. That is why the loan sharks appeared with these loan types. But there is a hidden danger in this method.
People are desperate when they look for these types of loans. And when they are desperate, they tend to miss the minor details, and they tend to accept offers even if they can't afford the interest rates. That is the fact, because many people are left with no other options for finding money. Those loan companies take advantage of this to the fullest. They will purposely increase the interest rates for these loans. Even when they increase it, many people are left with no choice but to accept it.
Those loan companies will also use another trick here to trick their customers into paying a much higher interest rate. I will recreate an example for you to better understand how they trick their customers into paying for a huge interest rate without their customer even knowing it. Let's say that the customer here is person A, and he needs the loan to pay for his apartment rental by tomorrow at 5pm before he is forced to leave as another customer is waiting to take over his apartment.
Person A walks into the loan office and tells them that he needs a quick tenant cash loan or any other quick loan. They ask him in a very friendly voice, when he needs it and how urgently he needs it. A tells them that he needs it by tomorrow 5pm to pay for his rental or else he is going to be forced to move. The loan guy, very friendly tells him that their loans will take up to two days with an interest rate of 10%. But as seeing that he needs it urgently, he tells A that he will talk to the boss to get the loan approved much faster, but will result in the interest rate increasing by just a little bit. A say that increasing it just a little is no problem as long as he can get the loan quickly.
The next day, A arrives at the loan company at 3pm. The loan guy tells A that his loan is still getting approved and it will take just a little while longer. They purposely make him wait until 4.30pm before they bring the money as well as the contract. A asks the loan guy in a hurry what the interest rate is. The loan guys just smile at A and tells him that it is increased just slightly, and thanks to him negotiating to the boss, A received a much lower interest rate than others. A in such a great rush, signs the contract, believing in the loan guy and takes the money from that quick tenant cash loan to pay for the rental just in the nick of time.
At the end of the month, when A goes to the loan company to pay his monthly payment for his quick tenant cash loan, he gets the shock of his life when he finds out that he has to pay an interest rate of 30%. The loan guy tells A that it is lower than others who applied for those quick tenant cash loan and any other quick loan. And since A has already signed the contract, he now has no choice but to continue paying. He tries to negotiate, but now, the loan guy is not as friendly as before. In fact, the loan guy starts to threaten A about paying the loan which he has signed and that no negotiations are allowed.
Does this example sound dramatic? The fact is, this situation happens all the time. A friendly person in the loan company acts as if he is your best friend and is trying his best to help you. And purposely delaying, passing the money to the clients to make them much more desperate and inclined to suggestions. This is the main trap that those loan companies came up with when they created those quick tenant cash loan, quick cash advance loans and all those other quick money loans. Please read the next method that they use, as it is an even more dangerous and misleading situation. Learning all these methods can help save the life of someone you know or love who might come across this situation in the future.
The dangerous traps used by those Loan Companies
The number one reason why many people end up in a loan and debt that they won't be able to settle. While we may choose the right payment methods and the interest rates, there are methods that those loan companies will use to increase our debt in front of our very own eyes. From traps that are used in real life, to traps used in those online cash advance loans, this information is life saving.
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