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gurubest
Wysłany: Śro 15:11, 02 Wrz 2015
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When is it ideal to take out short term loans? A federal court has granted the FTC an order for contempt in the matter of Suntasia Marketing, Inc. a company previously involved in a telemarketing scheme that bilked consumers out of millions of dollars. This time around, the scammers took advantage of people looking for online payday loans by tricking them into completing an online application. The catch? The website and application were a pretense â an attempt to get peopleâs bank account information. Once the company had their account numbers, they enrolled unaware consumers in an ongoing membership program for an online mall. But because the terms of the program were obscure and buried deep in the website, there was no way for the consumers to know. And the company took their silence and failure to cancel as acceptance and permission to regularly debit money from their accounts on a regular basis.
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But even a 401(k) withdrawal is worth considering. Yes, you’ll have to pay ordinary income taxes and a 10% penalty on the money, but that’s far less money than you’d give to a payday lender. When people “roll over” payday loans, and keep the cycle of payday lending going, those loans usually average interest rates of about 400%.
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Rebuild.org brings you the latest news headlines related to Personal Loans: You should fully understand both the costs and the alternatives of short term finance before borrowing.
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