Payday Loans Very Tough To Pay Off!
Date: Mon, 05/25/2009 - 18:34
I never looked at the pay off process until recently after several of my clients told me that they would refinance their payday loans for as long as 6 mns. to a year.
The system of interest that they use is actually based on high risk, because they do have about a 25%-33.7% none payback rate.
But they understand that the majority of their customers will not be able to pay off their loan when it comes due. So they will refinance the loan.
If you find yourself in this situation there's only 1 way to get out and that's to pay off your loan, but that's no secret!
The secret is that you must buckle down and figure out a budget so you can attack your payday loans and all of your other debt.
I think if you can cut down your expenses a bit each month and p
I think if you can cut down your expenses a bit each month and put it in a separate savings account, you can accumulate a sizable amount of money to take care of your emergency expenses and avoid payday loans. It is the high interest and finance charges that makes payday loans difficult to be repaid.
It's sad and unfortunate that people go for these payday loans.
It's sad and unfortunate that people go for these payday loans. I myself have been in the situation more than once. People get so desparate and worried about the money that they are trying to come up with for an emergency and payday loans are usually their last resort. When they see how easy it is to get one, they figure what the heck. Most people don't really think about the fee or how they are going to pay it back, they are just feeling at ease for the moment because they got the money to take care of what they needed to. When I hear friends and family talk about getting a payday loan for something I immdiately start preaching to them. I tell them payday loans are only going to make matter worse for them.
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same here.just sometimes it doesn't work.will say it again especially with internet pdl's.they are designed to trap you into constant rollovers,fees,and eventually more pdl's.again this is directed at the internet pdl's like the ones the OP designs pages for.they serve no real purpose in the long run.
