Posts Tagged ‘no collateral loan’

There should be a law

Monday, October 13th, 2008

Saw a post on payday loans on the There Should be a Law site that I’ve copied here:

“There should be a law making it mandatory that anyone taking out a payday loan complete a 2 hour investment course prior to signing a contract. The investment course should cover interest rates and be paid for by the payday loan companies and administered by an independent organization. They should be available anytime.”

Seems like a good idea that those taking out a payday loan will really know how much it is costing them.  When you compare payday loans to other loan options you really are paying a ton of interest.  I know more and more states are trying to enact laws to help cut down that interest but in the meantime it would be nice to see those needing a quick loan realize just how much a payday loan is costing them.

If you are looking for a no collateral loan with an interest better than a payday loan try out our p2p loan site here at p2pwealth.com.

thanks,

P2pwealth.com

P.S.  If there is some law that you think should be enacted head on over to the There Should be a Law site at

http://www.thereshouldbealaw.info