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Fast Loans: Advantage And Disadvantages

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					FAST LOANS: ADVANTAGES AND DISADVANTAGES



The fast loans are booming in a recent time. The emergence of online
banking marked a before and after for this type of loan, and the crisis have
done nothing but re-evaluate their importance. However, if rapid credit before
responding to consumerist whims fifteen minutes now, most of the time, due
to the need of the economic situation.

Companies that provide credit fast we put it easy: a phone call, a few
formalities and grant the singing. SimpleOCR is also a loan express through
online banks, at least much more than if we go to the physical branches. But,
Is all that glitters gold?

Advantages of Quick Credit

Fast loans have their advantages, is clear. The circumstances are what they
are and to have an amount of money, in any case very high, at one time one
of us can get a good fix.

As we said earlier, express loans are obtained almost immediately-within one
to three days, and with very little paperwork, without needing to leave the
house without presenting documents. In addition, the flexibility to pay is the
dominant trend. So far is perfect.

Disadvantages

Where is the main problem of fast loans? What is the fine print? What site is
the catch? Nobody gives four pesetas hard, let alone credit companies, which
in turn express a loan we always charge high interest. Between 10% and
20%, there is nothing.

Keep in mind that the initial fees will be added between 1% and 3% additional
study, partial redemption or cancellation.

Recommendations

From the consumer and user organizations tell us to be restrained and not
hire fast loans, except in cases of strict necessity. "We have to tighten their
belts, contain costs and avoid any kind of loan," advises Ruben Sanchez, a
spokesman for FACUA.

"These loans were born to attend a binge, but now is required for survival,"
says Ausbanc president, Luis Pineda, who also warned that are immigrants,
housewives, small entrepreneurs and people in debt-to that banks do not lend
more money, the main objective of the lenders.

				
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Description: The emergence of online banking marked a before and after for this type of loan, and the crisis have done nothing but re-evaluate their importance.