How much do "Check into Cash" or any of the likes charge to barrow $200 for a month?

Question

I just want to know how much do these places charge to borrow money. Have you used these services and did you like it. How much did you borrow?
Thanks.

Answer 1

I actually borrowed $255 and it cost $45. I did this a few times before, I wouldn't recommend it. First you fill out a form, you name, address, phone, SSN, DOB, workplace, they need an ID, and a blank check, and you they ask when you will get paid. So if you get paid 2 weeks from that date, you give them a post dated check for $300 for that date. When that date comes, they'll remind you 2 days or the day before. On that day, or before then, you have to pay them $300 in cash or they will deposit the check, or if you can go in person, tell them to deposit the check. You can also get extensions on your loan, so if you can't pay them the full $300 back, you have to pay $45 for each time you want an extension and tell them you'll pay the $300 in another 2-weeks. You can only do extensions for 3 times or somethin'. If you don't pay them, they'll harass you with phone calls and etc.

I wouldn't recommend these places, they are located in bad low-income crime infested neighborhoods usually and I always felt bad doing this. These people just praise on the poor and try to milk every penny they have out of them. I am so glad I am out of this garbage hole with them. Believe me, you're better off borrowing $ from a friend. They are not worth it.

Answer 2

In the current personal loan market your best choice is https://tr.im/Glmgz the reason I say this is because things are always changing. After the 2008 financial meltdown. Underwriting rules have been changing and they continue to make small changes all the time. It really doesn't matter if you have perfect credit or bad credit there are options for just about any situation these days. With that said its going to be impossible to answer your check into cash question.

My recommendation is grab a quote from my previously mentioned place. You'll be able to see different kinds of programs and rates available for your personal financial profile. Not matter if its an emergency, vacation, or for private reasons; just about any situation is considered. No matter the credit or current job situation. Just let them know what you got and see whats possible from a top provider in the industry today.

Answer 3

Please stay away from these places. They are not called predatory lenders for nothing. They often are located in poor or low-income neighborhoods and offer their services at the highest possible rates. If you default, they threaten you and call your home everyday, except Sunday (even though the law allows them to do little about your default). I suggest Prosper as a source of funds. The lenders actually bid to fund your loan like an auction and the interest rates are well within reason. I think the highest interest rate right now is 30% and the lowest is around 8%. Much better than the 150% to 300% that payday lenders are charging.

Answer 4

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RE:
How much do "Check into Cash" or any of the likes charge to barrow $200 for a month?
I just want to know how much do these places charge to borrow money. Have you used these services and did you like it. How much did you borrow?
Thanks.

Answer 5

Check Into Cash Fees

Answer 6

Most places are $15 for each $100 you barrow. Take my advice, DON'T EVER USE THEM. Once you start you are in a trap where you are are having to borrow to pay back the previous loan. They are a prime example of predatory lending and should be against the law.

Answer 7

They usually charge about $7-$8 per every $50.
So for $200 you will probably have to pay back about $240.

Here is my recommendation: use these places wisely and only for real emergencies. And never borrow what you can not afford to pay back. I would say only borrow half of your bring home income. For example bring home $500...only borrow at the most $250.

I have used them for emergencies like over drafting my checking account, car problems, or my children need to go to the emergency room.

But it can become very addictive....borrowing and you can not stop.

So please borrow what you can afford to and rethink it before you do it.

Answer 8

Haha, cute. Somebody said that to my sister before. "is there a baby growing in your butt? it looks like it!"

Answer 9

$15 per hundred - its a vicious cycle to get trapped in - I wouldn't recommend it.

Answer 10

....they charge too much , and some places where they are allowed , they can charge you interest if it is not paid back on time as much as 500% for first time borrowers....be afraid .....be ..very ..afraid ....turn around ..and run ..run away ..as fast as you can ...R U N ....do not go into the artificial light of borrowing money ....run ....Run..... RUN.........RR UUUU NNNN......