Payment method #1 that loan sharks use when you need money loan from them.
If you ever need money loan from them, you must first understand what type of payment methods they have. I will explain the first payment method. I will refer to this method as "fixed payment". Fixed payment is a payment method where the amount to be paid and most importantly, the duration for the payment period has been agreed to by both parties.
Let's say for example, you need money loan because you are in dire debt over you home or apartment rental. You found a cash tennant loan that allows you to receive the money quickly. You borrow $1000 from them. You both agree to a payment of $300 every month, for five months. So after you've completed paying the total of $1500 for those five months, your loan is considered settled, and you do not owe them anything anymore for that cash tennant loan.
The Interest rate as well as the payment period and duration can be negotiated, but most loan sharks will still prefer a longer payment period. The example for the cash tennant loan above is five months, but rarely will this happen. Most of them prefer a loan that has a period of at least ten months. But there are a few rare cases where there have been compromises in this rule. The best way is to negotiate with them.
This is the most commonly used payment method, and compared to the other method, this is by far the better of the two whenever you are need money loan. Why is this method recommended? Because this payment method will allow you to settle your debt quickly and without any disagreement later. In fact, I recommend that anyone who need money loan and is looking for any of those bad credit cash loans to use this payment method. This method is the most effective way to eliminate your bad credit status.
This payment method is actually the most famous and widespread payment method that is used worldwide. The second method was actually earlier used in Asia, and then it slowly found it's way into Europe and the Americas. The second method makes the person in debt feel like they are paying less, but in reality, they will be paying much more than the fixed method. If you are ever in need of money loan, especially bad credit cash loans, and you have no choice but to borrow from those loan sharks, please use this payment method. If you are not careful, you might just end up looking for another bad credit cash loan to cover up for the first loan.
After you learn about the second payment method, you will understand why I am telling you this. Please read the next page to learn more about the second payment method.
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Did you know that there are two payment methods?
Many people do not really understand the payment methods for those legal and illegal loans. By understanding the two and their differences, we will be able to choose the suitable one for us, as well as which ones we must avoid at all cost.
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