Thread Rating:
  • 2 Vote(s) - 3.5 Average
  • 1
  • 2
  • 3
  • 4
  • 5
When are payday loans worth it?
#11
The problem with payday loans is that the borrows usually can't payback their loans in time. So they're forced to roll over their debt and make a new, possibly larger one. I'd say payday loans are worth if you can quickly payback, otherwise you'll possibly be stuck in a cycle of debts, which is especially bad if your salary in that time has not increased or if you haven't found another way to earn money.
Reply
#12
For me it will only be a great idea if you need it for a certain time or situation that leaves you no choice but to deal with them. I think it helped a lot when bad times come and you need urgent financial response. Just be sure to monitor and settle it in schedule because if you don't, you will be in bigger trouble.
Reply
#13
They're a smart thought in case you're in basically a crisis, with no other choice to get the cash. And you know you'll have the capacity to pay off the advance and the premium generally rapidly. On the off chance that it's for something non-dire, or if the intrigue keeps amassing, it's a terrible thought.
Reply
#14
When payday loans are worth it?. A very interesting questions to answerSmile Payday loans are worth it by the time which is really in need and during emergency situation, for me i can say it worth. Acquiring some loan without any circumstances is not a good idea. It will take hold of you from debt and feel unnoticed and realized that your now digging and putting your self to debts. Most of the people today is not aware that they are paying a high interest that in the end of the day will realized that the interest incurred were equivalent to its principal. So why would i take a loan with no important reason. Lets be smart, wise and responsible in having loans.
Reply
#15
I believe everybody who has money issues need a loan once in a while. I mean, no matter what type of loan it is when you are in need of money you just don't care as long as you can borrow the money and deal with the payment later.
Reply
#16
(01-17-2018, 06:37 AM)kaisantos2229 Wrote: I believe everybody who has money issues need a loan once in a while. I mean, no matter what type of loan it is when you are in need of money you just don't care as long as you can borrow the money and deal with the payment later.

I don't think most people who take payday loans can handle the payment. Of course anyone can get in a bad situation and need money, but there are many people who regularly take loans just to cover basic living expenses.
They just sink deeper and deeper into debt over time.
Reply
#17
The only time payday loans make sense is when the bounce check fees are more than the fees of the payday loan. Also don’t renew your payday loan. The renewals of payday loans make it very expensive.


Sent from my iPhone using Tapatalk
Reply
#18
(01-09-2018, 01:08 AM)Sase3119 Wrote: They're a good idea if you're desperate, in essentially an emergency, with no other option to get the money, AND you know you'll be able to pay off the loan and the interest relatively quickly. If it's for something non-urgent, or if the interest continues accumulating, it's a bad idea.

Yeah it's true, if I don't have any choice or I need money or an emergency, I don't have choice but to go for it.

It's not bad it's kinda good but the important is manage your finances properly.
Reply
#19
Payday loan is worth it but never over do it. Once is actually good especially if its an emergency since Payday loan is one of the easiest way to get a cash fast.
Reply
#20
(01-18-2018, 03:13 PM)Heart Wrote: Payday loan is worth it but never over do it. Once is actually good especially if its an emergency since Payday loan is one of the easiest way to get a cash fast.

Payday loans are like ice cream: eating one scoop of ice cream is OK, eating many scoops of ice cream, is not OK.  Smile
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)