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Guide to beating the Pay Day Loan or Title Loan gangsters


Staff Writer


2018-02-26


.bugnews.bloggieblog.com .


Many people use Pay Day Loans or Title Loans services. If people did not use the high-interest loan service, the companies would not have all that advertising money to attract borrowers. Many people don't know how to work their way through the maze of payments.

If you have taken out a payday or title loan, many people have learned that the payment plan is endless. With the endless plans, people get very upset at the end of the day.

Well, good information is here and, it is free and simple. Borrowers have to learn to add a little more to the payment cycle. By adding more to the payment cycle, the payment plan is shortened and, the payment amounts are lowered.

For example, look at this table for 300 dollars

Table 1

Payment 1 Payment amount interest payment Princple Payment Balance
Payment 1 66.00 56.00 10.00 290
Payment 2 66.00 56.00 10.00 280
Payment 3 66.00 56.00 10.00 270

If you notice from the table 1, the payments would take a lifetime.

In table 2, 30.00 dollars will be added to the payday payment. Many lenders require you to call them and tell them to add the extra principal payment.

Table 2

Payment 1 Payment amount interest payment Princple Payment Balance
Payment 1 66.00 + 30.00 56.00 40.00 260
Payment 2 66.00 + 30.00 56.00 40.00 220
Payment 3 66.00 + 30.00 56.00 40.00 180

Please remember one can add more then $30.00 or less then $30.00 as additional payments to the loan. You can lower and up the additional payment amount for each payment too. The more you add to the payment will cause the loan to be paid faster. The faster you pay lowers the money you give them. This is information should help you beat the PayDay Loan and Title Loan industry.

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