How Safe Loans Give Cash Back Not Regret

Payday loans are relatively small and are intended to be paid back in full quickly, which averages about a couple of weeks. The lending requirements are that you have a bank account and income as the guarantor. The borrower generally gives the lenders their post dated personal check, and authorizes an electronic funds withdrawal. This can run the typical customer up to 5 months in the payday revolving door, which in turn they end up paying up to $520 in fees for an original loan for example, of $375. This information is based on the on the research of the Pew Charitable Trusts, which have been gathering data on the dangers of these types of loans.

At this point one has to wonder, what would be a safe alternative for a cash loan in times of need, that won't require credit or the obligation of a a high interest loans that never goes away. For example, a pawn shop will offer a loan to a person without requiring any kind of bank account.

In order to make this possible, the borrower needs to provide a worthy item that the pawn shop accepts as valuable. In most cases, Gold jewelry is the common asset. Some people bring in laptops or other items of value they are are not using as collateral to back the fast cash loan.

Gems N' Loans in Temecula offers interest rates as low as 2% and can easily answer questions and facilitate private consultations.

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