The Downside To Advance Payday Loans
June 14th, 2008Advance payday loans can be a life saver if you are really broke and need some money before payday. But be warned because their rates can be outrageous. You could be set back by as much as 15% interest. Such loans are usually taken by poor people or by people who are likely to default on some kind of payment. More often than not, such people have no other option. They are living paycheck to paycheck and hand to mouth and are a few days behind so they are desperate to do something, to do anything to make ends meet.
One other class of people who seek such loans are addicts of some thing or the other. They can be so upset about not getting their fix that they will waste money they do not even have yet and get farther and farther behind, because they are desperate to get their fix. This is very sad, because these people already have such incredible problems without loosing 15% or more of their income to a loan shark. Many is the story of someone finally finished off for good by advance payday loans.
It is bad idea to spend money that you don’t have. advance payday loans may look like a good idea, but believe me, they are not.
I had a friend in college like that once. He was brilliant – a student of both Physics and English, and one of the most creative, innovative, and unconventional thinkers I have ever met to this very day. He got an advanced cash payday loan because, well, he was looking to party, and figured he could make it up the next month by living lean, eating ramen and ketchup sandwiches. HE was young, he figured, he could eat healthy when he was older. But the next month he was still behind, and the next too, and he kept having to get advance payday loans to cover the debt he already had. To make matters worse he developed addiction for some thing, and the stress of his finances was only making it really bad. Fortunately, he had a supportive family who was able to get him into a rehab program, and help straighten out his financial dire straights.
Here are a couple of relevant blog posts - instant cash advance payday loans online - fast cash advance loans until payday
Leave a Reply
You must be logged in to post a comment.