Payday advance loans Kentucky

What are the buyers? Thousands of books, written by Western and domestic marketers, are devoted to the psychology of the buyer. For any seller, it is important to see not a gray faceless mass of people with money, but to reach the heart of each customer, lure him to the counter or to the website of the online store and sell him the goods. Sales are a mixture of science and art.

What are the buyers? Let’s try to describe some of the most common types.

Payday loan consolidation Kentucky

Work with experts! These people know very well why they are going to the store. Random purchases under the influence of emotional impulse or typically our “want” here does not happen. Moreover, experts are trying to find out everything about a product, be it a coffee can or a complex technical product like a digital camera. Experts know perfectly well how and where to get microloans in 5 minutes, they are free to navigate in credit products.

Before you buy a product, it is carefully studied and compared with peers. This is usually done using the Internet. The store is a purely mechanical purchase. Experts are a little subject to persistent advertising, although they always take note of it.

Connoisseurs themselves can play the role of consultant, often striking the staff of the trading floor with their knowledge.

From the point of view of saving a personal budget, which we have written more than once, being an expert is quite profitable. Only the necessary purchases are made, the consumer characteristics of the product and its benefits, including the price-quality ratio, are put at the forefront.

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What does a payday loan in Kentucky involve?

Kentucky Revised Statutes Ann. §§ 286.9.010 et seq. govern the functions payday lenders. Under these laws, the maximum you can borrow through a cash advance in Kentucky is $500. A lender cannot provide more than two payday loans to a customer at any one time. And the cumulative total of all your existing payday loans cannot exceed $500.

Restructuring

This way of solving credit problems is completely different. You remain in the same bank, the loan agreement is the same and has the same number, only annexes can be accepted to it, in which the conditions will be revised. How it works?

Suppose you have serious financial problems and you are no longer able to pay on a mortgage or consumer loan. You take an instant loan on a card without checks, with a bad credit history, but this helps you temporarily. Month after month, income does not grow, there is nothing to pay a loan. Loans also have to be returned: money is needed all around, but life is not enough …

Easy payday loans Kentucky (general rules):

  • Maximum loan amount: $500
  • Loan term: 14 to 60 days
  • APR: The APR for a 14-day $100 loan is 459%

As a good borrower, you go to your bank and honestly state your troubles and misfortunes (well, if you grab suitable documents: a copy of the order of dismissal, medical certificates, if you are seriously ill, or something else). Do not expect that the bank will forgive you even a penny, this will not happen. But the bank is well aware that it is better to help you than to refuse: otherwise, the bank will fall back on debt collection lawsuits. It is long and expensive. What can they offer you? Restructuring.

What might restructuring look like?

Credit holidays. You are exempt from repayment of the loan and / or interest on it for a certain period. During this time, you can solve problems with your financial situation, try to find another source of income and firmly “get on your feet”. At the end of the vacation period, payments are made as they were before and as specified in the loan agreement.

Reducing the amount of the monthly payment. Suppose you are not able to pay 20,000 – you are tight with money. And you can 10,000? This is the meaning of the sentence. How is this achieved? Extension of the loan period. The longer the period, the greater the number of months it is divided, so the amount of payments per month is lower. But do not forget about the interest … The longer the period of use of borrowed funds, the greater the amount will have to pay in the form of interest. We warned you that the bank will not miss its benefits! Yes, this is strategically not very good, but today you need a break and you will get it.

You can change the order of payments for the “bad”, that is, overdue loan. First, you extinguish the main debt (to the end), then – interest, and at the very end – fines and penalties. The monthly payment is also reduced.

Restructuring works well in practice and this opportunity should be used. The main thing in case of problems is not to hide from the bank, but to enter into negotiations with it. Always defend your interests.

Loan quickly to the card without checking the credit history will help you if you need to make an urgent payment on the loan, and you currently have insufficient funds. This is a convenient and fast tool, but we do not recommend abuse. It is better to engage in the search for income, saving personal or family budget.