Which of the following statements about check cashing companies is FALSE? They can take a percentage of your check on top of fees. They charge low fees. They offer bad deals where you'll owe a lot more than you borrowed. They make it easy to fall into a loan cycle that is hard to get out of.

Question

Reina Webb

Business

13 January, 16:18

Which of the following statements about check cashing companies is FALSE? They can take a percentage of your check on top of fees. They charge low fees. They offer bad deals where you'll owe a lot more than you borrowed. They make it easy to fall into a loan cycle that is hard to get out of.

+5

Answers (2)

Know the Answer?

Killian Clayton · Answer 1

The correct answer is letter "B": They charge low fees.

Explanation:

Check cashing companies are loan organizations that provide cash to individuals without the need of creating a bank account with them. They provide people cash based on their paychecks. The loans are usually established to be repaid in short terms carrying high-interest rates. The advantage of these organizations is the few requirements that are needed to obtain the cash.

Ruby Hicks · Answer 2

the first one is wrong