According to the U.S. Census Bureau, as of 2011, 69 percent of U.S. households were in debt. That is a lot of bills that need to be paid. Combine that with the increase of the cost of living over the past 15 years, and many American families are forced to look for short-term financing to cover short-term goals and emergency costs.
The cost of the living calculator at the American Institute for Economic Research indicates that it costs the average consumer $137.21 to purchase the same goods and services that they purchased for $100 only 15 years ago. That is a 37 percent increase over 15 years. Not everyone’s salary increases have kept up with inflation, which makes it even tougher for families to pull together the money needed to maintain a satisfactory standard of living, never mind paying for emergencies, such as car repairs, broken glasses, or home repairs.
When banks fail to loan necessary funds, you may be tempted to turn to less reliable means of paying for short-term needs, such as payday or title loan companies, which often charge outrageous rates and lend more than the consumer can afford to pay. The result? You fall further into debt. Instead of borrowing outside of your means, look for lenders who offer small flex-pay installment loans, lines of credit, and single-pay loans based on your ability to pay. Even when challenged by poor credit ratings, consumers have the right to fair and courteous treatment from a lender.
When looking for an American lending company to meet your needs, look for one that is licensed in your state. MoneyKey is the leading licensed lender in many parts of the US, and they adhere to the strict guidelines to provide responsible loans for Americans. As an online lender, they make sure their website has Secure Socket Layer (SSL) encryption to protect your personal information from theft. Their application is simple and includes just a few quick personal questions and the required size of your loan. To apply for the short terms loans from MoneyKey, you must be an American citizen (or permanent resident), with an active bank account and a working email address. They’ll contact you regarding your loan via that email account, so you have to have reliable access to it.
Whether you are looking for single-pay loans to get you through a crisis or flex-pay installment loans to help your family meet short-term goals, you can find lenders who are willing to work with you. Remember, you are not alone. You are just one of many who are struggling to make the best of a bad situation.
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