Moving Financially Forward Online

Don’t Fall Into This Dangerous Cycle

Maybe you know the dangers of payday loans and have decided to stay away from them. Maybe you were denied a payday loan and are looking for other alternatives. Whatever the reason is you’re not getting a payday loan, consider it to be for your ultimate benefit.

It’s important however, to be cautious of another option on the table called installment loans. One of the dangers of these types of loans is that they can create a vicious cycle of debt. One loan leads to taking out another one. Before you know it, you’re unable to pay for basic necessities. Here are two reasons why installment loans are so costly:

  • Interest rates: The interest rates are expensive. More expensive than credit cards.
  • Origination fees: These fees are usually much higher than traditional loans.

When you end up paying a lot of money to borrow money, you have less to spend on the things you need in the future.

Subscribe to our Newsletter

By clicking submit, I authorize Moving Financially Forward Online and its affiliated companies to: (1) use, sell, and share my information for marketing purposes, including cross-context behavioral advertising, as described in our Terms of Service and Privacy Policy, (2) supplement the information that I provide with additional information lawfully obtained from other sources, like demographic data from public sources, interests inferred from web page views, or other data relevant to what might interest me, like past purchase or location data, (3) contact me or enable others to contact me by email with offers for goods and services from any category at the email address provided, and (4) retain my information while I am engaging with marketing messages that I receive and for a reasonable amount of time thereafter. I understand I can opt out at any time through an email that I receive, or by clicking here.

Recent Articles

Skip to content