Predatory lending is something that has only recently hit the financial scene, so we want to be sure you know how to protect yourself and your loved ones from falling into the cycle.

The best way to protect yourself from predatory loans is to shop around for credit and to compares rates. Of course, we really hope you will come to us first, but the important thing is that you don’t just assume you will be denied.

Other tips to help you avoid the trap:

• Don’t let a salesperson pressure you into agreeing to a loan before you have had time to shop around. Don’t sell yourself short by not finding out the best rate you can get.
• Don’t sign anything that is contradictory to what the lending person says. Read the fine print and know the details of your loan.

As tempting as it sounds, try not to get caught up in Pay Day lending. They say they can help you get by until your next paycheck, but it really is just a vicious cycle to get involved in.

If you do find yourself caught up, or if you know someone who is, know that there are people who can help, places that really will help you get out of debt. Consumer Credit Counseling is one option – you can contact them by visiting www.kscccs.org.