By Shawn Martin
The payday loan laws in Idaho are written in a way that befits the lenders.
There are no time limits on the loans, and the interest rate the lender is allowed to charge is open ended.
In other words, the lender may charge any amount the borrower will pay.
Now that is a recipe for disaster and a sure fire path strait into the payday loan trap.
Idaho payday loan companies are subject to the rules and restrictions of the small loan act, but by and buy they find ways to write in fees and charges that add up to insane rates.
The best way to deal with these companies is the avoid them altogether.
I know sometimes there really is no other option and a person is forced into taking out one of these loans. If you find yourself in this position make sure before you take the loan out you can pay it up in full on the first due date.
You will pay a high-interest rate but only once, as the average payday loan is rolled over 4 to 5 times before getting paid off.
We can help!
If you should find yourself caught in the situation of needing help with your payday loan debt in Idaho or any other state, we can help!
Please check out our payday loan repayment plan or call us today at 1-877-280-5100 for information on how we can help you!!