Finance Company Loans Devastate Credit Scores - Stay Away If At All Possible!

ONLY IN AMERICA CAN YOU PAWN YOUR CAR IF YOU HAVE A CLEAR TITLE!

FINANCE COMPANIES ARE NOTHING MORE THAN PAWN SHOPS TAKEN TO THE NEXT LEVEL!

JOIN A CREDIT UNION THEY WILL HELP YOU OUT ANIT WILL COST YOU A LOT LESS!

ONE OF BEN FRANKLIN'S PITHY AMERICAN VIRTUES WAS - THRIFT!

YOU PAY A HIGH PRICE FOR EASY MONEY!

WATCH OUT FOR THE DEBT TRAP

WHEN YOU NEED QUICK CASH FOR CAR REPAIRS OR HELPING OUT A RELATIVE, TURNING TO A FINANCE COMPANY SEEMS LIKE A LOGICAL MOVE. LITTLE DID I KNOW BORROWING FROM THESE LEGAL LOAN SHARKS [28.9% INTEREST PRE-COMPUTED RULE OF 78's LOANS]
WOULD COME BACK TO HAUNT ME! EVEN THOUGH THE LAST TIME I BORROWED FROM A FINANCE COMPANY WAS OVER 6 YEARS AGO, IT IS STILL DINGING MY CREDIT SCORE! SO, MY ADVICE IS FORGET ABOUT 'EM! JOIN A CREDIT UNION, GET A CREDIT CARD AND PAY IT DOWN RELIGIOUSLY! HERE ARE A COUPLE OF LINKS WHERE YOU CAN FIND OUT MORE ON THIS ISSUE...,
PAWN SHOPS-FINANCE COMPANIES PART 1  -  PART 2...,
HISTORY OF FINANCE COMPANIES...,
32 FACTS ABOUT YOUR CREDIT SCORE...,
WHAT IS A FINANCE COMPANY+HOW WILL IT AFFECT MY CREDIT HERE ...,
 

The lowdown on Western Sky Financial

Almost every payday loan company you might run into is governed by individual state laws that cap the interest rate payday lenders can charge. These state laws are designed to protect consumers from extreme APR’s and unrealistic repayment schedules. If you were to borrow the $5,000 maximum at their lowest APR of %116.73, then take the full 84 month payment schedule, you will have repaid the loan 7 times over. For a total repayment amount of $40,872.72 YIKES!
Now step away for a minute If you need $5,000 for a month and you also know that you can pay it back at the rate of about %10 per month. Then this might be an option to you. Then the money only costs you around $600 for a month ( if you pay every cent back within 30 days ). This is what the company wants. They want their money back, they want to make money on the risk they are taking in making a no collateral loan to someone with shaky credit.
Scam no….Expensive money, yes. Still probably better than a loan shark. Quite possibly the same guys though.