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Wednesday, March 25, 2015

Legal Theft

They Are Worse Than Payday Loans. Hard to believe...a cash-strapped borrower uses their car as collateral for a short-term loan, typically 30 days. A typical title loan comes with a $250 upfront fee and loans have to be repaid in full within 30 days. If borrowers can’t come up with the cash, they either sacrifice their car, or they can pay another $250 to get their loan extended. You can get them online.  

Yahoo Report - Report by NBC News - Ads Gloss Over the Risks - Consumer Complaints and Reviews - Fraud Guides

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