Stars Who Endorse Payday Loans

April 15th, 2013

payday-loans

There are increasingly more and more stars endorsing payday loans. Montel Jordan, Nadya Suleman, Kerry Katona, and Rusty Wallace have lent their names to the industry to advertise this short term lending solution to the general public. The reasons the stars go on board with the various companies varies, but mostly, those here understand the need for financial rescue and improving one’s life.

What is a payday loan?

A payday loan is a short term solution to a financial need. Typically, a lender will offer a borrower a set amount of money in the form of a loan to be paid back on their next payday. Lenders loan out the amount of cash the borrower can afford to pay back, based on their pay from employment. The terms of the loans are generally anywhere from a week to four weeks, again, depending on when the borrower is paid. The interest for the short term loan can be high, however, lower than bank fees on bounced checks and other debt fees.

While the practice of short term lending can go badly if a borrower takes longer than the stated terms to pay off the loan, the loans are actually a boon to people who find themselves short on cash in the short run. These short term loans are also accessible to more people, resulting in financial relief for those who would not be able to get a loan at a bank or other lender. Following the suggested short terms results in an instant cash infusion at competitive rates.

Montel Williams wants to help people

Montel-Williams
Montel Williams is a talk show host, actor and radio personality who had an Emmy award winning talk show during the 1990s. Clean shaven and well known for his stated desire to help people live better in all aspects. Williams’ most recent venture is in the field of payday loan endorsements. He is a paid spokesperson for Money Mutual, a payday loans and cash advance lender matching service.

Nadya Suleman understands having hard financial times

Nadya-Suleman
Nadya Suleman, famous for becoming the mother of octuplets in 2009 and then forging an acting career, endorses OctoLoan.com, which is a lending network that connects borrowers with short term loan and cash advance lenders. Part of Sulemans’ endorsement from the website states, “If anyone knows financial hardship, Nadya does”. The actress has had much media documentation and interest in her financial hardships.

Kerry Katona takes pride in paying her debts and wants to help others do the same

Kerry-Katona
Singer and actress Kerry Katona holds a similar position on her endorsement of CashLady.co.uk in London. The company offers payday loans to employed individuals in The United Kingdom. Katona publicly acknowledges her own financial missteps and states that she understands the need for short term cash to meet financial obligations. Payday loans can be invaluable in preventing bad financial situations from becoming worse. With responsible borrowing on a short term basis, borrowers can help themselves out of debt with an emergency cash infusion.

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