What to know about loans during the holidays - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

What to know about loans during the holidays

The holidays are right around the corner and many people are wondering how they are going to pay for it.

"Since Black Friday, we are getting about 50 to 60 phone calls additional each day," said Jennifer Blackwell with Easy Monday in Cape Girardeau. "It's everyone. It's people who get monthly checks, full time jobs, multiple jobs, single moms, single dads, husbands, and wives."

Blackwell says the contract customers sign is very straight forward.

"We are here for short-term emergency credit loans to help you only until payday," Blackwell said.

On Kingshighway, Jim Cauble is the president at Cape Regional Credit Union.

"Normally, we will have as good or better rates than anyone will," Cauble said. "Very honestly about six months is normal for us."

Cauble says loans here are a better option if your Christmas list includes more expensive items.

"Well, we had three today that are buying automobiles from local automobile dealers," Cauble said.

Blackwell says the most important thing with payday loans is paying them off.

"You need to pay it off in 14 days and not re-borrow," Blackwell said. "They get themselves into a cycle they can't get themselves out of."

Something Blackwell says can be prevented.

"Just stick with what you think you absolutely have to have," Blackwell said. "Don't go above and beyond."

Copyright 2012 KFVS. All rights reserved.

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