Debunking The PayDay Loan Interest Myth

Hi! My name is Miles Ford, and I’m here to
dispel the myth about the exuberant interest rates on payday loans that you
might have heard about. Imagine for a moment you went to a hotel. You ask
them how much is it for one night here. And the hotel told you our hotel rooms are
thirty six thousand five hundred dollars per year. Now, just like in that hotel
scenario, payday loans are meant to be a very short-term loan, not a long-term
solution, but by law interest rates must be represented in terms of annual
percentage rate. So the interest on our two-week loans seems inflated when you blow it up to a full year. Now, if you have any more questions please feel free
to reach out to your nearest Check into Cash center. You can visit us online
at, or you can leave a comment below. Thank you guys so much!

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