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 Posted: Wed Nov 14, 2007 10:28 pm Subject: are there any GOOD payday loan companies?
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I live in California. I need to make a $500 payday advance loan. I get paid on Nov 30. I will have no trouble covering the pay back, but after reading some of these threads, I am concerned about getting hooked up with an illegal company with all their bad behaviors.
How do I find a legitimate company that won't mess with me?
Thanks in advance...
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windsage4
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Debtcc Points: 100
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Posted: Thu Nov 15, 2007 6:18 am Subject:
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Sorry to say Winds, but I don't anyone here would consider ANY PDL to be "GOOD".
However, most storefronts are legal and 'tolerable' to work with. You should be able to find one in the yellow pages or just by driving around. The ones that have a physical presence in your state are more aptly regulated and have to follow your state laws to a T.
Just be aware, on a $500 loan you will probably have to pay back something like $575 in two weeks. Also, make sure beforehand that you will be able to pay it back when due... I know it's easy to say, but so many people here said the same thing; then something came up, they took out another PDL to pay the first one, 2 turned into 3, 3 turned into 4, and then we have problems. Next thing you know, your whole paycheck is going toward interest. Just be careful.
Last edited by DebtCruncher on Thu Nov 15, 2007 6:19 am |
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DebtCruncher
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Posted: Thu Nov 15, 2007 6:19 am Subject:
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Please do not do a payday loan. It will only cost you more money and aggravation in the end..See if your employer could possibly float you a loan of the amount you need and pay it back with each pay period..please try this first.
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deeannstudent
Joined: 04 Jun 2007
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Posted: Thu Nov 15, 2007 6:26 am Subject:
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I second, that, PLEASE don't do it....I always told myself "I'll have no problem, on payday paying this back and then it will be paid off", I now have 5 PDLS, and its a nightmare! I got the other 4 when I didn't have the money to pay the 1st one! Please try and do something else.
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Lren0318
Joined: 29 Oct 2007
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Posted: Thu Nov 15, 2007 8:08 am Subject:
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One semi decent option is your bank. Some banks and credit unions offer "payday" type loans, usually called a Direct Deposit Advance. These are done through your bank, and they are relatively cheap in comparision to other payday loans.
But it still isn't the greatest idea. Payday loans can really trap you into a terrible circle of debt.
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goudah2424
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