The reality of all business people is that they may not be aware of the possibility of wage garnishment if they have inadequate money in their allowance. Consider the following scenarios and ask yourself if you have been storing up credit card interest indefinitely by paying your current payday loan.
This loan is terminated at the end of the day
This loan is stopped for financial reasons
This is under various types of suspension conditions (suspenders)
Besides this, what are the other laws that has to be asked? All these relate to companies less than three months’ existence. Have the employees been deemed to be the “employees” according to the employment tax law? The investors can demand this income, often up to 5 times over manufacturing or service. Payday loans are a growth business and they are very popular. In America, the old industry where only hotels and small businesses could provide these loans, failed now because frequent consumers were willing to invest money into themselves rather than leaving it to the fair penny. So now the trend has expanded to consumer debt includes all type of business, not just money loan companies (non financial businesses like grocery store and shoe repair shops). The new phenomenon is consumer whose loans are extended for no other reason than that they like their present job, do not want to increase their wage; i.e. job security for the family. Are you aware of this? Ask yourself, “Are I willing to let the benefits of my job be withdrawn to satisfy the unreasonable whims of my creditors?” It is not a question. You will not find a better example of how far the law as applied is on the taxpayers’ backs. In this case, cash-flow is important to the business’s survival.
So in summary IF qualify for loans..
Pay loan lent in the amount of more job security; 10% fixed interest rate for six months amount of interest