I need advise. Thanks in advance.

Date: Fri, 02/27/2009 - 21:53

Submitted by anonymous
on Fri, 02/27/2009 - 21:53

Posts: 202330 Credits: [Donate]

Total Replies: 3

Hello everybody. I'm new on this forum and I need some advise. I had some financial problems in the past and had to declare bankruptcy. It's been 2 years since that time and I tried to get a small loan from Wells Fargo and some other subprime lenders, but was refused. Are payday loans my only option right now? If that's the case, what is the cheapest payday loan company to get the money from? I do not need a lot. I think only $500. Thanks.

Hi neuspisioneet, Avoid payday loans like the plague. We simp

Hi neuspisioneet,

Avoid payday loans like the plague. We simply cannot recommend any of them for anyone.

Here is a good article by the Federal Trade Commission: Payday Loans Equal Very Costly Cash: Consumers Urged to Consider the Alternative.

Good luck,

chrys

lrhall41

Submitted by Chrys Henderson on Sat, 02/28/2009 - 01:05

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I agree. Since you are new maybe you should read what other peo

I agree. Since you are new maybe you should read what other people have experienced with payday loans. Once you read their nightmares, you will not want to go that route.

Suggestions: 1. What is the loan for - maybe you could delay getting it and use cash. 2. Ask a family member or a friend if you could borrow the money. Sign a promissory note if you need to. 3. Sell something to get the money. 4. Take on some extra work or do some odd jobs for extra money. 5. If you really need the money and can't get it anyother way, then go to other banks. Someone might be willing to lend to you.

Please do not get a payday loan. You will regret it.

Let us know how you do.

lrhall41

Submitted by spatterson_40 on Sat, 02/28/2009 - 02:15

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I agree with the others. It is very hard to get out of a payday

I agree with the others. It is very hard to get out of a payday loan. If you don't have the money now you won't have it when it comes time to pay off the loan and you will keep rolling it over or re-loaning.

What state are you in? They may not even be legal in your state which can lead to even more problems.

lrhall41

Submitted by nohiogal on Sat, 02/28/2009 - 02:57

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