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Mortgage Rates
30 Yr FRM 4.83% -0.08%
15 Yr FRM 4.32% -0.04%
1 Yr ARM 4.35% -0.11%
5/1 Yr ARM 4.25% -0.04%
30 YR Tres 4.30% 0.01%
Fed Prime 3.25% 0.00%
Q: What is the problem with going to payday loan places?
  • Wow, I know first hand how times are rough right now in today's economy, but with that said, I strongly suggest staying away from these title and payday loan places. In South Dakota where I live, the state does not impose a maximum interest rate limit that these places can charge you. In some cases these places are charging as much as 400 to 500%. Again WOW!. At all costs I would suggest staying away from these places.

    What I do suggest is, that if you are finding that you are coming up short of money every month, you need to modify your spending. I also suggest that you seek some FREE professional help. Look around to find this help. In my location you can get free budgeting classes from a not for profit agency called Consumer Credit Counceling Services. I think that you'll find that once you go to one of these classes, that you'll find comfortable ways to get you budget in order.


    Answer Submitted on Tue, Dec 30 2008

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    Answer Contributed by: Ken Jones
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