for a 1000 dollar loan at ace cash express how does the interest work. i know someone who cant get out of it.?
Asked By: reeves tile - 7/6/2010
Best Answer - Chosen by Asker
Well the interest usually works out to be over a thousand percent. The issue is that if you can't pay it back in full they will charge you another fee (like $100) plus the interest every two weeks. They don't take partial payments. This is the trap that people fall into. Most people can only afford to keep paying the... More
Answered By: Nutter B - 7/6/2010
Additional Answers (2)
Nutter B is right! The only way out is to make more money and cut out all possible costs. Sell items on ebay or some other site or to a pawn shop. Take a second job, any job, to earn a little more. Sell the car and take public transportation for a while. Cut off the cable, cell phone and other monthly bills you... More
Answered By: Alex - 7/6/2010
it's a very high rate. the lender doesnt want anyone to get out of it, of course. a 1000 dollar loan can be worth MUCH more than that.
Answered By: wg0z - 7/7/2010
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