I want the money placed on a debit card
2007-01-25 21:39:07 · 2 answers · asked by Amy 3 in Business & Finance ➔ Credit
By the time you add the application fees and interest to a payday loan, you are looking at about a 300% annual percentage rate even though it's a short term loan. The reality is that if you need the money until payday, you are going to need another and another and another in the hopes of repaying it. If you are already short from covering expenses, what makes you think that you can afford it? If you don't have a bank account or credit card or a friend who can loan you the money, you are a prime target for those kinds of places. Don't do it. Talk to family, friends, employer, credit union, or anyone you can who will bail you out without the long term commitment to a short term loan. The fact that you need a payday loan means you are living above your means. Concentrate on reducing your expenses, increasing your income, or a combination of tasks that will help you avoid credit in the first place. Getting a loan is easy... repaying it is the problem.
2007-01-25 22:13:02 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Payday loans are a bad idea. I would avoid any web-based loan program entirely. Half of them are bogus.
2007-01-25 21:48:42 · answer #2 · answered by Warren D 7 · 1⤊ 0⤋