Payday loan company

Discussion in 'General Advice' started by twohuskys4di, Mar 4, 2008.

  1. twohuskys4di

    twohuskys4di New Member

    Hi All you wonderful people at this Work From Home Forum. The following I'm about to share with you - well I'm sure you've all been there a time or two in your lives.

    I'm hoping someone out there might give me some ideas/suggestions on payday loans. Because of a pretty nasty divorce I'm really running short on funds. Because of credit problems, a traditional bank slams the door in my face.

    Does anyone know of a good PAYDAY LOAN company? I really hate to go this route, but really at this point, I don't see any other choices. I know it will cost me lots more than I want it to, but rent, electricity, water, etc. can not wait. I've done searches for them - my gosh I did not know there were 1000s of them. If you know of any good ones, would you be kind enough to let me know.

    I really appreciate any recommendations that you might have. Thanking you in advance for your responses.

    Kindest Regards,
  2. mountainmom5

    mountainmom5 Gold Member

    Hi Diane,
    Boy, I wish you wouldn't have to go that route. I personally haven't had experience with payday loans, but have heard that you want to be really careful with that.

    I wish you the best and hope everything works out okay for you!
  3. westfam11

    westfam11 Member


    I also wish you didn't have to go that route. I haven't had any experience with the companies but I do know a family member that did. It was a terrible disaster. Because they didn't have the money to pay it when it was due and the interest just mounts higher and higher, sometimes more than the original loan amount.

    Do you have anything you can sell? Can you do a part-time job, anything else? I think this would have to be a last resort and you really need to have a way to pay it back on time. I am sorry is this discouraged you but I wouldn't want anyone to have to go through what my family member did.

    Becky West
  4. 2002mjf

    2002mjf New Member

    Hi, Sorry to hear about your situation. I could not agree with westfam11 more....stay away from them. They are meant ONLY as a very short term solution, and even then you end up paying ridiculous rates of intrest. If you can, seek out help from a family member or friend. Maybe get an advance from your workplace, if they allow that. A part-time job or a well placed "garage sale" might help come up with some quick funds. If I can think of any other suggestions, I will post them here....Best of luck to you.
  5. opendomain

    opendomain New Member

    Speaking from experience these places can be a mixed blessing. A few years back I was in a few accidents and couldn't work, my wife just had surgery so she couldn't work. Bills mounted of course and money had all but stopped coming in. So like any desperate person I went to the loan I mean the payday loan company. I was able to secure a loan for $500.00. It was great. I stayed the flow of calls for like 2 weeks and the problem began again... So what did I do...well went to get another loan. Well it turns out they can check against the other loan places to see if you have any OTHER loans out. So after much trying I finally found a place that would do it. So I got it. 2 more weeks went by. Now I'm 1k in the whole plus the 2, $87 dollar charges. I managed to "extend" my loan by paying the $87 on both loans. I did this 3 times each ($261.00 for those of us who are keeping count)

    In the end we could not afford to keep anything and had to stay at a homeless shelter for about a month, till I could go back to work.

    So to sum it up I ended up owing 1261.00 with the end result being the loss of everything. Keep that in mind. Honestly if this is your last ditch effort don't do it. Take the blows that are coming and plan for the future. Sometimes God forces us in a direction and no matter how we scream and claw to not go in the end you go.

    If you're not going to have the money within 5 days don't get the loan. I would suggest calling churches and such, I know they will often pay to help you out. Key thing is you need to have a job to get anything done, if you don't have the option of getting help anywhere seriously consider your next move as a start over. I know in the end no matter how embarrassing it seamed at the time my brief stint in a homeless shelter with my family both humbled me and gave me a new perspective on life.

    Best of luck to you in this matter if there is anything that can be done to help let me/us know.
  6. talfighel

    talfighel Silver Member

    If you have to do it then go for it but I do know that the interest is pretty high so I am not sure if you should get it.

    There are probably other ways for you to get the funds. Maybe other family members can help. Maybe friends.

    Hope everything works out for you.
  7. winlin

    winlin New Member

    twohuskys4di: I'm hoping someone out there might give me some ideas/suggestions on payday loans. Because of a pretty nasty divorce I'm really running short on funds. Because of credit problems, a traditional bank slams the door in my face.

    Does anyone know of a good PAYDAY LOAN company?

    This Payday Loan stuff is a quick fix that can cause longer term burdens.

    #1) You cannot afford to pay a bill or make a purchase today so you want to borrow the $$.

    #2) In two weeks you will now have an additional burden of the "Fees" and the money borrowed.

    #3) What will change between today and two weeks from today that will allow you to pay both?

    #4) If you cannot give a positive response to #3 then you would be only making your situation worse.

    #5) If there is anyway you can get a part time job, painting, digging ditches, cleaning toilets... whatever! You should certainly be able to make an additional $300 in a couple of weeks. 'Yes" you may have to give something up to do it.

    #6) Now you have $300 pay off your bill, buy your food, put gas in your car... whatever you needed it for and your done with it !

    IMHO there is no good reason to go this route, although I understand "Real Emergencies" may make this a necessity.

    "Good Luck to You" - WinLin
  8. FreeCashMan

    FreeCashMan Well-Known Member

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