The Community Council Invites a Financial Expert to Hold a Helpful Lecture for Its Students

Newly, the Leland & Gray Union Middle & High School arranged an extracurricular meeting with a financial expert and the founder of 1FirstCashAdvance, Latoria Williams, with a view toward raising financial literacy and awareness among the school students.

Having considerable and long-term experience working in the lending industry, Latoria Williams was invited to fill in the students on the most important details of the smart borrowing and responsible lending. She paid particular attention to a wide variety of currently available loans amid different lending institutions. She devoted time to describe all types of short-term loans in detail, disclosing each type's pros and cons.

The students gained some pieces of highly relevant information about different opportunities to deal with their unexpected financial issues, including cash loans with no credit check. This type of loan is designed to borrowers who haven't succeeded in building a good credit history and even probably, have a bad credit score that is always considered when applying with traditional lending institutions.

The guest speaker also told the students about such beneficial cash advance options as bad credit loans with guaranteed approval. These loans can help any person in need to obtain the necessary cash amount in a short time without worrying about important bank documentation usually required at conventional lending institutions.

The guest speaker gave an in-depth lecture about the importance of understanding payday loan work principles and lenders' politics. She covered such aspects as possible payday loan dangers and ways to avoid the most commonly faced online loan risks.

The Main Payday Loan Dangers

As bad credit payday loans online significantly differ from conventional banks or credit union loans and are simpler to acquire, there are some risks an uninformed borrower could face:

  • High costs - payday loans usually have a high APR. Thus, it's necessary to discuss these details with a lender beforehand.
  • Difficulty when repaying it - the APR high costs can cause such unexpected situations as an inability to pay off a loan on the due date, as a borrower doesn't have the entire loan amount on his bank account.
  • Debt trap and rollovers - this option should be considered a last resort as it can potentially lead to serious financial long-term problems.

Ways to Avoid Payday Loan Risks

It's essential to realize that payday loans are aimed at covering only short-term urgent needs. When a person struggles with the impossibility of dealing with financial emergencies, it's better to get acquainted with the most useful ways to eschew possible payday loan dangers.

  • Before applying for a payday loan, ask yourself twice - do you really need it, and why? Will you be able to repay the loan on time?
  • Verify the lenders' information you're dealing with - don't engage in borrowing relationship with untrusted and illegal loan representatives.
  • Get familiar with a borrower's rights and obligations beforehand - in case if you notice your rights have been violated, report the complaint to the persons in charge.
  • Consider asking for help from your friends or family.
  • Try to use available services from various organizations responsible for providing financial assistance for healthcare, daily utilities, car repair, and more.
  • Keep your budget in line, collect paychecks as early as possible, and don't let your spending draw yourself into a crushing debt trap.

Considering the students' positive feedback and valuable information disclosed during the appointment, the Leland & Gray Community Council decided to arrange such a meeting on a monthly basis.