Cash Advance Loans - Loan Sharks In Disguise?

By David Berky

You have seen them on the corner and in the poorer parts of town with names like “Quick Cash", “Quick Loan", “Payday Loans", “Car Title Loans". They are starting to sprout up all over the country and will soon rival Starbucks for sheer number of locations.

They are the new trend in predatory lending practices but still manage to fly under the radar of regulation in most states. They don’ t charge interest, they charge a “fee".

But it sounds like the ultimate in convenience. Need some quick cash - stop by and in just five minutes you can be out the door with $100, $500 even $1000 dollars. But what is the true cost of this “convenience"?

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