Top Dangerous Ways to Get Fast Cash
Getting fast cash can be tricky and make you lose ground when it comes to making the right decision. There are many ways to get it and you can gain online access to many of them including payday loans, credit card applications, and others get from a direct lender. However, getting fast cash usually encloses a danger that you might not be aware of, usually in the form of an excess indebtedness that later may can be truly hard to leave behind, as you will see now.
Getting a Payday Loan
Payday loans are short-term loans that you can borrow with ease without having to undergo a credit check or being required to fax any document to get your application approved. However, what payday loan lenders will never tell you is that they charge the highest interest rates when compared with other types of loans that you could get. This is the reason why payday loans are considered among the top dangerous ways to get fast cash.
Taking “Advantage” of Cash Advances
Cash advances should not be confused with cash advance loans that is another brand name touted to sell payday loans. By cash advances we mean the money that you can borrow directly from your credit cards. Actually, most credit companies and bank institutions allow credit card holders to withdrawn money from any ATM, thus the name cash advance, but this money generates additional interest, which are summed up to the interest rate that you already pay for your credit cards.
Becoming an “Expert” Investor
While payday loans are backed by your paycheck and credit cards rely on a credit limit set based on your credit history and payment capability, to become an investor you need financial knowledge and a stash of money to play with. This fast cash solution could be a great idea if you would only have both of the said requirements, but the danger is in getting enrolled in opportunities such as High Yield Investment Programs (HYIP) that are often scams or play investing in Forex or mutual funds that involve a high investing risk.
It Is True! Love Hurts
Many people think that the best solution to avoid payday loans and other fast cash solutions is look back at family members that are able to lend money without asking too much in return, and sometimes nothing. However, it is a very dangerous idea to look at because love money, as this type of loan is financially called, may deteriorate your relationship and even jump with the surprise that a family member may ask for collateral or you to sign blank check to guarantee debt repayment. A family member or friend may even state, “pay when you can”, but the relationship could be become strained until you pay the debt.
Taking Out Twisted Solutions
The World Wide Web comprises so many surprises that it would be hard to enumerate all what you can find around, but among the top dangerous ways to get fast cash, borrowing money from individuals that you do not know and that are not licensed lenders can cause you so many financial headaches that you might end up wishing to have looked at the costly payday loans first.