Caliban. In order to qualify for the featured loan offer borrowers must meet a few minimum requirements, namely: 18 Years Old U. Citizenship Current Employment Active Bank Account. The website does not recommend these loans for every situation, in fact, visitors are encouraged to browse the popular bad credit loan programs made available that carry different interest rates, financing costs and repayment terms.
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Lender-approval and loan terms will vary based on credit determination and applicable state law - they may offer loans with fixed rates from 6 to 35 APR. The lender's approval process may take longer due to additional documents being requested. © 2017 Solution Loans. All Rights Reserved. Warning: Why a Cash Trap Must be Avoided at All Costs. For an owner, youll never feel quite as hopeless or helpless as when your business is caught in a cash trap. Whats truly frightening is that many owners dont know what a cash trap is and more importantly what to do if theyre stuck.
So what is a cash trap. You can search through the Internet, and find a myriad of interpretations and definitions.
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Although Id love to take a bunch of folks and go at that one issue, said Aguilar, the director of consumer protection, I dont have that luxury at the moment. Aguilar said his team finds violators when consumers complain or when the agencys examiners visit one of the stores for an inspection. Only two customers, including Tillman, have ever complained to the commission.
Its a difficult situation, Aguilar said. People get put in tough situations where theyre just not armed with enough knowledge to deal with [payday lenders], and they get intimidated. If somebody calls you and tells you that youve violated the law in a criminal manner, thats going to get your attention and shake you up.
Forrest Wilder, a native of Wimberley, Texas, is the editor of the Observer.