About a year and a half ago, I was a little short on cash, and decided to respond to one of those "Get $500 today!" e-mails. The next morning, I had $300 in my account. Pretty soon, I had around 10 loans, basically taking one to pay another, and barely able to afford my car payments.
I make decent money in sales, but my entire paycheck ended up going to pay those insane loan fees.
Luckily, my tax return is large enough this year to finally pay them OFF!
The problem is, these loans become an addiction. Almost like a drug.