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Is it ok to take out a payday loan with 250% interest?

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My friend Lisa is going through a financial crunch. She wants to take out a fast loan. But the company is wanting about 250% interest on it. She wants to repay the loan in installments for 5-6 months. Is it possible. We stay in Delaware.

Do you know the name of the lending company? are their predtory lender/ The interestrate is very high. Don't fall in to trap.

Sub: #1 posted on Fri, 05/29/2020 - 04:47

Sanders Patricia Sanders Patricia

(Posts: 1234 | Credits: )

Hi Josayen!

From the information, you have given it seems that the company is a pdl company.
The pdl companies usually give you 7 days to 15 days to repay the loan.

The other thing is you have not disclosed the loan amount.

Sub: #2 posted on Mon, 06/08/2020 - 00:06

Ryan Miller Ryan Miller

(Posts: 249 | Credits: )

What company?

Sub: #3 posted on Thu, 05/28/2020 - 22:04


I don't care where your friend lives. But you should stop her from taking out a payday loan. Are you guys crazy? The interest rate is so high. She won't be able to pay such a high rate of interest on payday loans. If she needs money, ask her to take out a personal loan instead. Even that is a better option. The repayment term for payday loans is 60 days in Delaware. That is the maximum number of days she will get.

Sub: #4 posted on Thu, 05/28/2020 - 22:45

David Martin David Martin

(Posts: 388 | Credits: )

Why does she want to take out a payday loan? No doubt, a payday loan offers fast cash without any credit check. But trust me, she has to pay a heavy price for availing these conveniences. Please ask her not to think about payday loans at all!! It will ruin her financial life due to the incessantly high-interest rates and other charges.
I would suggest her to opt for debt settlement program to pay off her debts with ease. Ask your friend to check out this page asap l and get rid of her debts!!!

Sub: #5 posted on Fri, 05/29/2020 - 22:56

Craigh.terry Craigh.terry

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