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I want to take a payday loan

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I want to take a payday loan. There are a lot of offers. I found 150% is this normal? What traps can there be?

Please stay away from a payday loan since it is nothing but a trap. The interest is too high. Borrow from a friend instead.

Sub: #1 posted on Wed, 05/17/2017 - 23:51

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150%!!! it's too high dude. I would rather suggest you to try some alternatives of payday loans like - borrowing from retirement account, credit card cash advances, loan from life insurance, personal installment loan, or paycheck advances from your employer.

Non-payment or late payment on payday loans may trigger a large sum of penalty charged by the lender. Few payday lender require your car as collateral (auto title loan) and in case of any non-payment you will lose the possession of the vehicle. Apart from that, the details you'll provide to the payday loan lender may also gets in the hands of cyber-criminals.

So, think before you move...

Sub: #2 posted on Fri, 05/19/2017 - 00:19

Barbara Delinsky Barbara Delinsky

(Posts: 386 | Credits: )

Dear, payday loans are for the emergency only when no options are open, you can consider it. It comes with high-interest rate, so stay away from it; otherwise, you may fall into debt trap.

If you want to easy cash, then sell some of the unused items or ask your near ones for a personal loan.

Before taking out a payday loan, you should check out whether or not the lender is legal in your state.

Sub: #3 posted on Fri, 05/19/2017 - 05:18

sanderspatricia29 sanderspatricia29

(Posts: 926 | Credits: )

If you are opting for a payday loan, make sure you're able to repay the amount with your next paycheck. Don't make a plan to repay a pdl with this high rate of interest. A personal loan can be a good alternative.

Sub: #4 posted on Fri, 05/19/2017 - 07:00

Good Nelly Good Nelly
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