Financial innovation never stops.
A Finish company (Ferratum) has started offering small loans ($200 to $600)in Holland and Scandinavia by Text Message.
Could this ‘innovation’ spread to the US and will we find out that some of the same ‘easy loan’ mortgage brokers that came up with ‘dream deals’ offer to rescue their ‘clients’ for their mortgage payments with this type of ‘lifeline’?
Beware, interest rates are high!
Read about this new and modern take on ‘check cashing’ stores via Springwise.
On money matters: Budget and Personal Finance Online: Mveloppes