Does anyone know about the online pay day loan companies?
PayDay Loans are a very expensive way to make ends meet and normally end up putting you in a bad position. The interest rates yearly can be up to over 300% and many people can get themselves into bad financial trouble by using either the storefront or internet payday loan places. Here's a write up on them from the Federal Trade Commission:
Hope you can find another way.
Susan from ThriftyFun (12/21/2005)
"Do not do them, online or otherwise." We did this some years back. I had six going at once, four of which were for the full amount ($300, at that time). I was robbing Peter to pay Paul. It was getting towards tax time, thinking I could pay everyone off.
Lo and behold one of the agencies put their cheque in just a tad early, which caused the others to bounce, not only for the loan companies, but for my groceries, bills, and everything else. Oh what a mess. It cost me over two thousand dollars to get it all straightened out. It just isn't worth it.
Borrow from your folks, sell goods on Ebay, but do "not" do this. You will regret it, because it is never a "one week thing". You need the cash and unless you are expecting a large cash windfall by the time the money is due, you are falling into a trap that is very hard to climb out of. Please take my advice on this. (12/22/2005)
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