tag:blogger.com,1999:blog-9069350873153285671.post6739032412582208265..comments2009-07-03T10:30:18.797-07:00Comments on Website Blvd: Differences between loans and payday loansContributing Authornoreply@blogger.comBlogger8125tag:blogger.com,1999:blog-9069350873153285671.post-68835276432153065242009-07-03T10:30:18.797-07:002009-07-03T10:30:18.797-07:00I think the fees are very high on payday loans--no...I think the fees are very high on payday loans--not sure about that, though. For a personal loan, the interest rate, I think, is higher than on a home equity line of credit. Maybe not as high as a credit card, thoughPatty D.noreply@blogger.comtag:blogger.com,1999:blog-9069350873153285671.post-80694546835090490642009-07-03T10:28:30.472-07:002009-07-03T10:28:30.472-07:00Personal loans are much harder to qualify for. I ...Personal loans are much harder to qualify for. I think you don't put up any collateral, so they are very stingy about whom to give one to. A payday loan uses your paycheck as collateral.Paul McLeannoreply@blogger.comtag:blogger.com,1999:blog-9069350873153285671.post-79239964061593798312009-07-03T10:27:05.215-07:002009-07-03T10:27:05.215-07:00Has anyone heard anything from any consumer advoca...Has anyone heard anything from any consumer advocates about these loans? I mean the payday loans. What are some of the things you should watch out for?Patricianoreply@blogger.comtag:blogger.com,1999:blog-9069350873153285671.post-6841687444610431512009-07-03T10:25:18.210-07:002009-07-03T10:25:18.210-07:00How about going to the newly expanded gaming in Bl...How about going to the newly expanded gaming in Black Hawk and Central City? Ha Ha. Maybe you'll earn some good money that way.Orennoreply@blogger.comtag:blogger.com,1999:blog-9069350873153285671.post-4728553955976789552009-07-03T10:23:57.647-07:002009-07-03T10:23:57.647-07:00Ooh, don't look in the Penny Saver. That's practi...Ooh, don't look in the Penny Saver. That's practically the equivalent of Craigslist and not to be trusted. Try to look for a more legitimate source for a pay day loan.Neil Guynoreply@blogger.comtag:blogger.com,1999:blog-9069350873153285671.post-68598346916961274432009-07-01T17:50:35.774-07:002009-07-01T17:50:35.774-07:00Well, I think that a payday loan is so short that ...Well, I think that a payday loan is so short that you pay a flat fee and repay it right at the next paycheck. They must have some sort of recourse in case you don't pay. A personal loan is amortized over several months like any other loan.David Dunnnoreply@blogger.comtag:blogger.com,1999:blog-9069350873153285671.post-84294171351321131362009-07-01T17:48:28.515-07:002009-07-01T17:48:28.515-07:00That's an interesting question. Never having had ...That's an interesting question. Never having had one, I'd like to know, too. Maybe the fees are high enough to cover any eventualities. But I might need one so I'd like to find out, too.Mandynoreply@blogger.comtag:blogger.com,1999:blog-9069350873153285671.post-54411830532226318542009-07-01T17:46:48.964-07:002009-07-01T17:46:48.964-07:00I've often wondered the same thing. I'm not sure ...I've often wondered the same thing. I'm not sure how they work but I'd sure like to check with Tom Martino or other consumer advocate to make sure that I get a good place and not the equivalent of a loan shark.Linda Evansnoreply@blogger.com