Kansas City Payday Loans Similar to Bank Overdraft Fees

This describes Kansas City payday loans and how bank overdraft fees are similar to short term loans

Nearly 70 million Americans are unbanked with no traditional bank account or Kansas City payday loansunderbanked. That means they do not or cannot access most banking services. The bank industry has shut out millions of consumers with high fees for almost every service. And they’ve imposed strict requirements for consumers to borrow money.

Kansas City pay day loans have been criticized in the media for their high annual percentage rates (APRs). However the fact remains that an APR is a measurement of a loan’s cost over one year. Whereas payday loans typically have a two-week term instead. For millions of consumers, there are few short-term loan alternatives. Banks have almost entirely retreated from the small-dollar lending market. They have instituted stringent underwriting standards that makes it impossible for many consumers to qualify for a loan.

Bank Overdraft Fee = Short Term Loan

Banks criticize small-dollar Kansas City payday loans providers, but banks also offer their own short-term, high-interest loan product. This is called an overdraft fee. Consumers who have a checking account with overdraft protection can charge more to their account than their balance. Checks or transactions that would normally bounce or get returned with non-sufficient funds are then covered by the bank. The consumer must repay the overdrafted amount along with an overdraft fee. The average overdraft fee is $29 but some banks charge even more.

Many banks advertise overdraft as a form of protection for transactions that inadvertently exceed the customer’s balance. Some banks advertise bank overdraft as an unsecured line of credit to manage cash flow issues,.. just like payday loans.

Consumers Spend More on Bank Overdrafts vs. Kansas City Payday Loans

In 2010, the payday loan industry reached $30 billion. Consumers spend more on bank overdrafts than they do on payday loans. Banks took in about $38 billion in overdraft fees in 2010 alone. That’s more than 3x that of payday loans. Under the law, banks can charge checking account consumers up to $140 per day in overdrafts with a separate fee for every overdraft transaction. A consumer who makes just three small-dollar transactions during one day totaling $13 will pay $87 or more in overdraft fees.

That’s outrageous!

Kansas City payday loans are a lower-cost alternative to bank overdraft fees,. They are virtually the same but with a different name. With a payday loan, a consumer pays a single predictable fee for the full loan amount without getting nickel and dimed on every transaction.

Waldo Financial is a leading pay day loans Kansas City provider with a focus on providing cost-effective and flexible payday loans to Kansas City consumers.

In summary, this described Kansas City payday loans and how they are similar to bank overdraft fees.

Why Consumers Use Kansas City Payday Loans Instead of Banks

This describes Kansas City Payday Loans and why so many consumers today are using payday loans instead of banks.

American consumers are tired of banks providing low-quality service in exchange for high fees at every turn. While the common misconception is only poor people use payday loans, the truth is different. Kansas City consumers use pay day loans and other alternative financial solutions because they are cheaper, easier, and faster than bank services.

Many consumers are also under-served by banks with little access to credit. Banks want high profit and low risk, pushing consumers out of the market if they want small-dollar loans, have poor credit, or fail to meet strict income and employment requirements to get approved for a loan.

 

Consumers are Unbankedkansas city payday loans

It’s estimated that there are 70 million consumers in the U.S. who are unbanked or under-banked, which means these consumers cannot obtain services from a bank. Consumers who live paycheck to paycheck and lack the savings to cover a short-term financial emergency can find themselves in a difficult position.

This is why Kansas City pay day loans providers provide an in-demand service. It’s affordable and predictable fees in exchange for a short-term loan funded in just one day. Kansas City pay day providers do not have a strict underwriting process that push out under-served consumers. For many, pay day loans are the only solution to pay bills, afford car repairs, and pay off medical expenses in an emergency.

 

Kansas City Payday Loans Are Short-Term; Not Long-Term Loans

Kansas City pay day loans providers hear criticism for high annual percentage rates (APRs) on their loans. Critics don’t consider that payday loans are meant to be repaid in two weeks. Low-income consumers and those living paycheck to paycheck are left with few alternatives. The banking industry  has shut them out completely.

Banks charge fees for almost everything. They charge you for withdrawing money. Banks charge you to use their ATM. They charge for failing to maintain a minimum balance to overdraft fees and paper statement fees. It is no surprise that millions of consumers go elsewhere with their business. Traditional bank services are simply unaffordable or inaccessible for many.

Waldo Financial is a leading provider of Kansas City pay day loans. They provide affordable pay day loans with honest pricing and flexible repayment solutions.

 

Should You Repay Your Kansas City Car Title Loan Quickly?

Kansas City car title loans are short-term secured loans. The amount you can receive is based on the equity in your vehicle and what you can afford to repay, not your credit. Despite its short-term nature, a Kansas City car title loan may have a term of anywhere from one month to years. As with any loan, you have the option of following your payment schedule — whether it is bi-weekly or monthly payments — or working to pay off your loan early.

Unfortunately, not all car title loan providers are equal.

Some car title loans penalize borrowers with a fee for making additional payments or paying more than the minimum due. Some even have balloon payments that make it almost impossible to pay off your loan fast. As you shop for a car title loan, it’s important to choose a lender like Waldo Financial that values customer service and allows you to repay your loan early without penalizing you. After all, you shouldn’t be forced to pay a fee for being financially responsible!

If you don’t get a car title loan with a prepayment penalty, there is one major advantage to repaying your loan quickly: you can save a substantial amount of money by reducing the interest you need to pay. Paying off the loan ahead of schedule also frees up more of your money each month so you can start building an emergency fund to plan for life’s surprises in the future.

There are several steps you can take to repay your loan early with additional monthly payments or paying more than the minimum due. Here are some tips:

  • Reduce your expenses. You probably have many expenses that are slowly draining money from you each month. Do you stop for a morning coffee? The average person who buys coffee regularly spends $36 a month. You may also have a gym membership you don’t use to save about $35 a month. Switching from cable to a streaming service like Netflix can also save you around $50 per month.
  • Save 10% from each paycheck. The easiest way to pay off your loan is putting aside 10% of every paycheck toward an additional monthly payment.
  • Pick up a side job. If you’re serious about paying off your loan fast or getting debt-free completely, consider a side job. You may be able to sell produce at the farmer’s market, cut grass on the weekend, or babysit kids to earn extra money.

The best way to get your Kansas City car title loan paid off quickly and save money is working with a reputable title loan provider like Waldo Financial that offers flexible terms that work best on your schedule. You may be able to change the terms of your loan as well to switch from monthly payments to bi-weekly payments. Even if the payment amount each month is the same, your loan will still be paid off early because some months have five weeks.

Pitfalls with Unscrupulous Kansas City Car Title Loan Lenders

Unfortunately, not all Kansas City car title loan lenders are created equal. While some lenders like Waldo Financial strive for transparent lending and encourage customers to be financially responsible, some lenders are more interested in taking advantage of customers with predatory lending practices. Consumers should be aware of the costly pitfalls of working with unscrupulous lenders and always read the fine print before signing a contract.

Many borrowers who turn to Kansas City car title loans are under pressure financially and skim over the fine print, which may contain hidden costs and scary stipulations. There are some lenders that require customers provide a copy of their car keys, but the worst will even put a GPS tracking device into the car so they can locate it or even disable the vehicle for a late payment. There may even be hidden repossession fees of up to $400, which would be added to the outstanding balance.

Consumers should also be aware that some lenders are unclear about the interest rate charged on the loan. Some will quote interest rates that do not apply to the terms of the loan the customer wants. A transparent lender will be upfront and clear about the loan’s interest rate and honest about any fees that apply to the car title loan.

Another major issue consumers should watch for is penalties for paying off the title loan early. This penalty is designed to trap consumers in a cycle of debt, as the borrower is forced to either pay a hefty penalty or keep the loan longer to pay more interest. Waldo Financial encourages consumers to make early payments on their loan or make more than the minimum payment with no prepayment penalties on any loans.

Waldo Financial strives for transparent and responsible lending, only offering car title loans to borrowers who can afford to repay. Consumers should seek out responsible lenders who consider gross monthly income and affordability during underwriting rather than saddling borrowers with a loan they can’t afford. While there will always be unethical lenders in any industry, consumers should take care to protect themselves while remembering that not all lenders are created equal. Waldo Financial aims to set a new standard for car title loans in Kansas City with excellent customer service and a dedication to helping consumers get the loan they need with terms they can afford.

Is a Pay Day Loan Right for You?

This describes payday loans and pay day loans in Kansas City.  Is a payday loan right for you?  When used properly, payday loans can solve your temporary cash problems in Kansas City.

Pay day loans are one of the most cost-efficient financial options to get you from one paycheck to the next if finances are tight. Also known as pay day advances, these loans are intended to assist people with their small, short term expenses.

When all other options have failed, payday loans can be invaluable and even life-saving to families in need.

Even at the best of times, large financial hits happen. Whether you’ve recently had an emergency, a cut in hours at work, or just some extra expenses, you sometimes need just a little more to make ends meet.  That’s where short term loans in Kansas City can come in handy.

While you can use it to fund larger purchases or high-priced emergencies, this can be shaky at the best of times. It is very easy to take out too large a pay day loan and be unable to pay it later when the loan is due.

When pay day loans are used responsibly and with restraint, they are one of the best and easiest vehicles to extending your paycheck just a little farther from week to week. It can solved temporary cash problems and provide short term financial assistance in Kansas City without sinking you into debt or requiring tedious credit checks.

Many states now allow payday loans with a balanced regulation for consumers. These regulations protect consumers, bind lenders, and allow you to gain access to the cash you need now.

This article described Kansas City payday loans and pay day loans.  A payday loan may or may not be right for you.  However when used properly, payday loans can be used to solve temporary cash problems.

KEYWORDS:  Kansas City payday loans, pay day loans

WEBSITE: https://www.waldofinancial.com

Finding Legitimate Cash for Gold Stores in Kansas City

With gold prices on the rise, Kansas City Cash for Gold stores are popping up everywhere, making this business one of the fastest growing segments of the economy.  While this can certainly be beneficial to leasing agents and landowners, a good question to ask is how these new we buy gold stores in Kansas City are getting their money.

Unfortunately, the answer isn’t always a good one. Many gold buyers are in the business to get rich quick and all at the seller’s expense. Disreputable gold buyers make large profit margins by offering payouts that are far below the gold’s true value, using shady business practices like inaccurate weighing, and more.  In short, they make their profit by cheating sellers like you out of a fair offer.

For all the shady cash for gold stores, however, there are legitimate gold buyers who are both willing and eager to help you get the most for your gold. Waldo Financial considers itself to be one of those Kansas City gold buyers.

As a name that has been in business in Kansas City since 1999, Waldo Financial offers gold sellers fair and accurate cash for gold offers. You will be provided with a written quote unlike many gold buyers, as well as a fair price for your valuable gold that is often more than double what others offer.

Times are tough with the economy and some people need the extra cash that selling their gold jewelry and coins can provide. It does you no good if you only make a tiny portion of that money. If you need a reputable place to get cash for gold in Kansas City, Waldo Financial is here to help. Review our information on how to sell gold in Kansas City or give us a call at 816-333-6800 so we can help you with all your questions and concerns.

Finding the Best Payday Loan Lender in Kansas City

Finding the best payday loan lender in Kansas City is easy if you know what to look for in a payday loan lender.

When you need extra money to tide you over until your next paycheck, payday loans in Kansas City can be a convenient and easy option. But, to avoid long term problems, you’ll want to be aware of a few things that will help you find the best payday loan company.

To find a legitimate payday loan lender, check the companies you have found with the BBB or Better Business Bureau. If there are complaints filed against the company, you may want to look elsewhere.  You can also search the Internet for warning signs by entering the lender’s name followed by “scam” or “fraud.”

Carefully read through the pay day loan company’s agreement form or contract. If the privacy policy is not strict or, worse, if there is none at all, chances are that they will sell your information to other companies.

If you’re looking for lenders online, looks at the website’s URL. If it does not start with https, the website is probably not secure. Your personal information could be at risk.

The payday loan lender’s rates and fees should be obvious. If you’re online, there should be a rates page. If in-store, it should be located in a high traffic area.

The contract should be clear and in plain English. State laws require that the contract contain the loan amount and fee, interest rate, and any other applicable fees. The due date of the pay day loan should be there, along with the options available to you should you be unable to pay it.

If you follow these tips, finding an honest payday loan lender in Kansas City should be no problem at all.  When you find yourself looking for the best payday loan lender in Kansas City, contact Waldo Financial at (816) 333-6800.

KEYWORDS: best payday loan, payday loan lender, payday loan kansas city

WEBSITE:  https://www.waldofinancial.com

Removing the Confusion from Buying Gold in Kansas City | Buy Gold Kansas City

Those of us who buy gold in Kansas City are often met with a lack of trust or confidence from consumers looking to sell their gold in Kansas City. This is largely due to the many we buy gold scams and reviews of shady businesses that have given the Kansas City gold-buying business such a shaky reputation. The image of a sleazy gold buyer trying to take a customer for all they’re worth is front and center in many consumers’ minds. Unfortunately, because of all the disreputable buyers, this reputation is deserved.

Shady gold buyers have been known to host gold-buying events in temporary places over the weekend before moving on. On Monday, the checks consumers have receive bounce. Other disreputable buyers will tamper with their weighing system in order to quote a lower price than you deserve. Internet cash for gold stores mysteriously lose shipments of gold in the mail. You may have encountered some of these underhanded tactics yourself.

At Waldo Financial, we believe in fairness and honesty. We understand your misgivings and do all we can to put your mind at ease. When you bring your gold to us, we provide you with a written quote of what we are prepared to offer you. We also base our prices on the ounce weighing system. This is the unit of measurement that is used around the world and can be easily understood, unlike the obscure pennyweight system used by many gold buyers to confuse customers. Our offers are fair and often up to 2.5 times larger than many other cash for gold locations.

Even after you have chosen to deal with us, we offer you the most convenient transactions by issuing cash instead of a check. You are assured of payment and don’t have to look for a place to cash a check. In short, we try to remove the confusion when we buy gold in Kansas City. There is no reason it should be confusing. Legitimate gold buying businesses do not have any reason to hide their procedures from you and we don’t. Come in to see how we do things or give us a call at 816-333-6800 with your questions and concerns about selling your gold in Kansas City.

How To Avoid Buy Gold Scams in Kansas City

Cash for gold stores in Kansas City are not always what they seem. Many of these we buy gold businesses try to gouge consumers by not offering fair prices.  What’s worse, many new gold buyers move around. They open temporary stalls at events or private parties then move on after purchasing all they can. This makes it difficult to track them down if something goes wrong.

If you are worried about getting involved in a we buy gold scam in Kansas City, here are a few tips from experts in how to avoid them:

Appraise Unusual Jewelry

Kansas City gold buyers offer scrap rates for gold; that’s it.  They offer you a price that is based on the amount of gold the piece contains and how much it will weigh when melted down. Gemstones and craftsmanship are not taken into consideration. So, if you have jewelry with gemstones or that is made by a well-known designer, you should take the piece to an appraiser.  It may be worth more as jewelry than it will be as gold scrap.

Evaluate Current Gold Rates

Every cash for gold business bases its buying prices on the current rate for gold. You can find this information, too, on gold investment websites and industry sites. Knowing the current going rate for gold will help you assess if you are being offered a fair price for yours. Remember that you won’t be offered the full price. The gold buyer needs to make its own profit, too. It is also beneficial to keep in mind that the gold market is based off of pure 24 karat gold while most gold pieces are 14 or 18 karat. This will also affect the price you are offered when you sell gold in Kansas City.

Review the Buyer

Above all, make sure you know who you are dealing with when you sell your gold. You can look at the company’s ratings with the BBB or at review sites like Yelp. Experts in the business also indicate that it’s best to shop locally, preferably at a permanent store that has been in business for some time, such as Waldo Financial. As a Kansas City we buy gold store, we have been in business since 1999 at 8437 Wornall Road. If you want to sell your gold in Kansas City, we’d like to help you. Come in or give us a call at 816-333-6800.

Are Buy Gold for Cash Stores in Kansas City a Scam?

This sell your gold for cash in Kansas City article describes how to find reputable we buy gold for cash dealers in Kansas City.

Gold prices are on the rise and so are the scams that accompany the process of selling your gold. It is a big enough problem that it can be tempting to write off the entire industry as a scam. While there are plenty of disreputable cash for gold stores in Kansas City, not every gold buyer is out to extort you. You really can turn your old gold jewelry and coins into useable cash.

Think of it this way: many consumers participate in recycling programs. These include throwing your glass or plastic bottles into recycle containers and selling your old car to a junk yard. Recycling your gold jewelry works much the same way. The exception is that your jewelry is much more valuable than a bottle or a broken-down car. This is why the gold-buying industry is so full of scam artists. It’s an easy way for many to make a huge profit very quickly.

But not every gold buyer is a thief. Legitimate businesses provide a valuable service to their customers. You get rid of a piece of old jewelry and walk away with extra cash in your pocket. In today’s economy, this can be the very thing to help you weather financial difficulty.

So, how do you determine the good guys from the bad ones?

First, know the value of your gold jewelry. Businesses who buy gold in Kansas City, like Waldo Financial, will offer you a fair price. Be aware that you are unlikely to find anyone who will offer you the full value of your jewelry. Even jewelers only offer a percentage. But knowing the base value will help you determine if the god buyer’s offer is fair or not.

Second, look for the buyer who will offer you a quote up front. Written quotes are even better. Unlike much of the competition, Waldo Financial offers written quotes on gold to every customer.

Finally, in order to be treated fairly, look for stable businesses that have been in the area for some time. Scammers move around often to avoid legal trouble. Waldo Financial has been in business in Kansas City since 1999 at 8437 Wornall Road.

Please call Waldo Financial at 816-333-6800 if you have any questions about the price or process involved for gold buying and selling.

This sell your gold for cash Kansas City article described a number of ways you can find reputable we buy gold for cash dealers in Kansas City.

KEYWORDS: we buy gold for cash kansas city, sell gold for cash kansas city

WEBSITE: https://www.waldofinancial.com