I hate payday loans

Pcdoc

It is very hard to get out of the cycle of payday loans. A lot of us on here have consolidated ours with debt consolidation companies or debt management companies to get out of the cycle. There are also others that have worked out payment arrangements with the payday loan companie on their own. I for one will NEVER get another one after learning a very hard lesson. I agree why do some keep going - probably because they can't get out - most people have several and can't afford to pay them all off. Most of the online ones aren't just high interest, they are from companies illegaly operating in states that they aren't licensed to loan money. Some of the store front one's have gotten in trouble with states and a lot of states are now introducing new legislation to regulate payday loans even more.

Welcome to the forum!

Sue

Good explanation, Sue. I can imagine how you were feeling when writing this post. I am pissed off this payday loan thing and will never use such in the hopes to get some financial help out of it. It can be disgusting especially when finance is messed up. I guess, there are still many people who haven't heard about the payday loan concept. They get attracted seeing these flashing websites and the attractive offers to catch. They don't know the hidden risks of it. Those who have tasted the bitter part will never approach these sharks again. It's all about experience, you know. Those who burn their lips drinking hot milk will take every sip blowing air again and again. "A burnt child dreads the fire."