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They aren't actually "transferred" - you can seek to get a loan from any other lender - bank, finance company, credit union etc - to pay the ck loans in full.
Granted finance companies rates are higher than banks and credit unions, but nothing like as high as payday loans and check advances (basically the same entities).
Payday loans are generally at approximately 400 % apr, while finance companies are much much lower.
Big deal issue is KNOW TO NEVER GO BACK TO A PAYDAY LENDER - it is a vicious cycle. One that leads many people to bankruptcy.
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11-19-2007, 02:23 PM
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