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Pro-racer Scott Tucker arrested for payday loan scam
Pro-racer Scott Tucker arrested for payday loan scam Pro-racer Scott Tucker arrested for payday loan scam in Kansas City. Pro racecar driver arrested 'after ...
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Although payday loans are short-term cash advances intended to be paid off quickly, various Truth-in-Lending laws require financing disclosures to be expressed as an Annual Percentage Rate (APR), or the cost of the credit advanced to you expressed as an annual rate.
With personal loans, funding is distributed in a lump-sum payment. When you receive your loan, you’ll receive the entire amount at once and begin paying it back in monthly installments.
A slew of new online startups is providing small businesses quick loans -- and quietly charging 40%, 60%, 80% and higher APRs in the process.
The payday scam is simple. If a guy takes a payday loan for $500 he’ll have to payback a ridiculous amount like $650. The guy knows that and takes the hit.