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Guest · Posted: Sun Nov 26, 2006 9:37 pm Subject: Why payday loans work

So I would like to know what everyone's thoughts are on why people actually take out payday loans? can you not get a credit card, borrow money from a bank or borrow money from friends or relatives? for those of you that have more than 4 pdl's, why is it you can't use any of the above alternatives?

LET 'ER RIP!

Guest · Posted: Sun Nov 26, 2006 10:03 pm Subject:

anyone out there?

Guest · Posted: Sun Nov 26, 2006 10:17 pm Subject:

would someone be so kind as to help me with my question?

Guest · Posted: Sun Nov 26, 2006 10:29 pm Subject:

People might not have the required credit to borrow money from a bank or apply for a credit card. And the payday loan companies represent payday loans as easy cash. Perhaps that is the reason people go for them. Why are you asking this question? Are you looking for payday loan?

Posted: Sun Nov 26, 2006 10:30 pm Subject:

Oh forgot to login Embarassed

that was me Very Happy

Posted: Mon Nov 27, 2006 3:43 am Subject:

Hi, dave, do you know anything about nationwide cash or ambassador?

Guest · Posted: Mon Nov 27, 2006 6:17 am Subject:

Dave--what about borrowing from family or friends?

Guest · Posted: Mon Nov 27, 2006 6:29 am Subject:

Posted: Mon Nov 27, 2006 6:34 am Subject:

Sometimes people feel embarassed about borrowing from family or friends. Then you get an e-mail that says something to the effect of "Don't borrow from your family or friends, we make it EASY". It catches you at a vulnerable time, and it all goes downhill from there.

Guest · Posted: Mon Nov 27, 2006 6:37 am Subject:

ok, so if people are embarrassed and don't want to borrow from family or friends and they don't have the credit to borrow from a bank or credit card company, what are they supposed to do?

Posted: Mon Nov 27, 2006 6:41 am Subject:

My recommendation would be to suck it up and BORROW from family or friends and stay away from PDL's so that you don't end up like many of us here who were caught in the PDL trap.

Posted: Mon Nov 27, 2006 6:47 am Subject:

I guess it depends how bad the debt is. Check your budget - are you living beyond your means? Do you need to scale back your life and make cuts to survive on your current income?

If it is short term, maybe you need to bite the bullet and ask for help from family. But the key it to make it a very short loan and a one time thing. Readjust your life so you don't have to make loans a regular part of life.

Posted: Mon Nov 27, 2006 7:29 am Subject:

Sometimes emergencies hit..I had one and had to have cash almost immediately. A Credit card is not feesbile, it is not like you get the card in the mail the next business day like the PDL's promise...I would never get another PDL....I have certainly learned my lesson.

Guest · Posted: Mon Nov 27, 2006 9:11 am Subject:

So i don't understand, what you are saying is that you don't want to ask family and credit cards are not realistic, then what do you do if you can't get to work because your car is broken and needs repairs, do you just sit at home and lose your job?

Posted: Mon Nov 27, 2006 9:21 am Subject:

Take the bus. Or get a ride from a co-worker, family member, or friend.

Posted: Mon Nov 27, 2006 9:22 am Subject:

My suggestion would be to get on the telephone and find a ride to work, or take the bus/cab if you don't want to borrow money from friends/family. Your payday will come soon enough and you can take care of your car then, without a huge interest rate.

I think you're trying to get me to say a PDL is a good idea, and I will NEVER say that. I was in my own personal Hell due to PDL's. Yes, I got myself into the mess, and I got myself out of it. But if I had just swallowed my pride and let the people around me help me instead of thinking, "Watch me take care of this all by myself without them helping me. They'll be proud of me." and then the next minute my checking account is going hundreds of dollars in the negative each payday, resulting in me having to take another PDL to get back in the positive. No thanks. Never again. And you know I tell EVERYONE I know to NEVER take a PDL.

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