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Are Paycheck Loans Keeping You in Debt?
Are you using or considering using paycheck loans in order to pay your credit card bills on time? Those "cash until payday" services sound helpful, but the truth is they're pushing you farther into debt.
Click
Here to start getting out of debt TODAY!
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If Your Still
Not Sure, Consider this:
 Paycheck Loans Overcharge on Interest
The typical paycheck loan charges 15% interest for a one or two-week loan. That sounds like a better rate than your credit card debts, but the truth is that a 15% weekly interest rate amounts to an annual percentage rate of over 800%. That's 40 times the interest rate on most credit cards. If you use paycheck loans on a regular basis, the loan company will be keeping more of your paycheck than you are.
Paycheck Loans Can Put People in Jail
What happens if you can't afford to pay back a paycheck loan on time? Since the loan companies already have a check from you, they can try to cash it anyway, causing your bank to charge you for the bounced check. Then the loan company can report you to the police for writing bad checks!
Americans can't be arrested for not paying a credit card bill or loan, but they can be arrested (and imprisoned) for writing bad checks. Is the short-term gain of a paycheck loan worth the risk of going to jail?
Debt Consolidation Might Be the Answer
Want an alternative to paycheck loans that actually reduces interest rates but doesn't invite a jail sentence?
Consider KCCA's debt consolidation
program.
Instead of creating new debts, we contact your creditors and renegotiate your original unsecured debts, reducing interest rates and minimum payments. We then combine your debts into one low monthly payment for your convenience. Even though you'll be paying less each month, you'll pay off the debts faster.
There are other benefits, too:
Consolidated payments.
Paycheck loans mean writing more checks every month and keeping track of more debts. Consolidate your debt with KCCA, and you'll only have to write one check a month. You'll save time and money.
We don't send people to jail.
We're just not that mean!
Rebuild your credit rating.
You probably had to get a paycheck loan because your credit rating prevented you from getting a bank loan. The best way to help a bad credit rating is to pay your bills on time. Following our debt consolidation program can actually help repair a credit rating damaged by outstanding debts.
Quit at any time.
In the unlikely event you decide that our program isn't for you, you can withdraw at any time and go back to paying creditors directly. We won't threaten you or your credit report with penalty charges like the paycheck loan companies do.
Think debt consolidation might help you pay your bills on time? Apply online for a free, no-obligation analysis by KCCA's professional credit counselors. Remember, nobody ever went to jail for paying their bills on time!
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