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Has anyone used the services of payday loan companies?

Date: Wed, 01/04/2006 - 14:22

Submitted by anonymous
on Wed, 01/04/2006 - 14:22

Posts: 202330 Credits: [Donate]

Total Replies: 2


Has anyone ever used the services of a payday loan company? Were they on the up and up and were you satisfied with their services? If you HAVE used a payday loan service, can you tell me which one?


brerrabbit,

Payday loans are very much expensive. The interest rate is very high. If you are quite sure that you can repay the amount in full on your next payday, then only consider taking one. Otherwise it will take you in an endless trap of loans.

Also if you finally decide to apply for one, check it's reliability with BBB, search for a lender in your locality and read the agreement paper minutely just to confirm no hidden cost is there.

Before you go ahead, just read this thread, I think it will help you understand the facts-

http://www.debtconsolidationcare.com/paydayloan-truth.html


lrhall41

Submitted by 4u.bryan on Wed, 01/04/2006 - 16:17

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Hi!

Don't use the services offered by a payday loan company. Consider using this service only if you can pay off the loan within the next payday. This way, you will be able to save a lot of money in interests from multiplying further.

Many of us have already gone through the woeful experiences of taking a payday loan. Once you are into this trap, financial management is jeopardized and it becomes almost tough to catch up with the payments.

Creditors will always call you at your home/work for recovering money. If you don't pay to them, your debt will be sold to some collection agency and things will shape even tougher.

My advice to you is to stay away from a payday loan. If you are looking for some cash, borrow money from your near and dear ones. It will be much easier to pay them rather than dealing with online payday loan companies.


lrhall41

Submitted by david on Wed, 01/04/2006 - 16:17

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