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Will a payday loan company check my credit score?

Date: Sun, 06/26/2016 - 22:44
Submitted by Todd on Sun, 06/26/2016 - 22:44
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I need fast cash. So, thinking about borrowing from a payday loan company. Can you suggest me a good lender/company in Hawaii? Also, will they check my credit score?


Hello Todd,

Though payday loan is legal in Hawaii, let me inform you that it applies to check cashers only. It means you can only cash your checks through a payday loan lender, but can't get any direct loan from them.

Maximum check cash amount is $600 and you can get it for 32 days. You'll need to pay 15% of check value as fee and finance charges.

If you borrow $100 for 14 days, you may have to pay $17.65 as finance charges and the APR would be 459%. Don't forget that you may only carry one outstanding loan at a time.


Submitted by tiarajoseph11 on Tue, 06/28/2016 - 05:05

tiarajoseph11

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I need fast cash. So, thinking about borrowing from a payday loan company.


The APR is 459 percent. Do you realize how much you have to pay on interest? Payday loan companies don't check credit score.

How much money do you want? Try your friends and relatives first.


Submitted by ditchdebt on Thu, 06/30/2016 - 23:35

ditchdebt

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If you have to take out a payday loan, make sure you can pay it back with your next paycheck. Then only, it makes sense. However, avoiding it is best. Try to borrow the required amount from your friends and/or family members. However, make sure you give it back as per the verbal agreement.


Submitted by Good Nelly on Thu, 07/07/2016 - 06:32

Good Nelly

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