ut a brand new product called a flex loan is quickly ecoming the industry norm.
It is an open-ended credit line with an impressive 279per cent yearly rate of interest.
Tennessee is among the very first states where you are able to have the new flex loans. Like payday advances, these loans likewise have high interest levels.
And even though those who work within the industry say flex loans are etter than traditional pay day loans, oth critics and customers we chatted to say you need to e ecause that is careful loans can e tough to pay back.
When you are brief on money, a flex loan might appear to be the solution.
ut for people like Malia Andrews, it absolutely was the answer that is wrong. Continue reading “Experts Phone 279% Loan A ‘Det Trap’. Many cash-strapped Tennesseans have actually looked to payday advances in a down economy.”