You need money? OK…but there are 4 fast-cash sources to avoid!

by Larry

 

2 – Payday installment loans: Available at both storefronts and online, these loans stretch repayment terms to as long as three years. You don’t need good credit — they often advertise themselves as no-credit-check installment loans — but you typically must meet the requirements of a payday loan: a paycheck and a bank account. Interest charges mount quickly over time: A $2,000, three-year loan at 400% APR will end up costing over $16,000.