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When are payday loans worth it?
#21
Payday loans can be really helpful when somebody is broke and out of the paycheck cash. I mean, the money that some people are paid cannot take care of all their needs and this is where payday loans come in handy. An emergency may arise when you are out of cash and there is no other option but to take the payday loan. The best time to take such a loan is when you are broke and the other loaning options are really tricky. Needs arise that should be attended as fast as possible, this is where payday loans are taken.
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#22
but actually the payday loans brings in some extra money to do the things that earned money cannot. I read somewhere that most people take these to cover living expenses, not in an emergency.If you get a payday loan and pay it off on with your next paycheck, it's not too bad. If you roll it over and over and over, that becomes very expensive.
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#23
Payday loans are worth it when loans are properly use. Like for example, during emergency that you really need the fund, we have nothing to do or to hold on to but to take hold of the loan, yes there is an interest, and make sure you have to settle the loan to avoid charges interest. The other way around is that when you use the loan for good investment like stocks, trading, etc.
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#24
Could not agree more with most of replies here. Emergency and urgently needed money is a very big problem if you don't have an extra allowance for it. Payday loans can help a lot and fast. Hopefully you can pay it as soon as you can because you will be drowning in debt if you happen to miss your payment again and again, that is the disadvantage of it.
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#25
I think the  payday loans can only  be justified if you have tried other loans and you have had no luck e.g overdrafts, personal loans e.t.c.Do you have to take a loan ?  A case for this would be in the case of a medical emergency. In other cases it is not worth it. Why pay someone that much money? Yet it is almost guaranteed that you will pay the money back. The high interest charged is an example of lenders preying on desperate people.
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#26
Payday Loans are most worth it when you have an additional income or expected surplus to cover your payback because once you borrow from your salary you will need to replace what is borrowed or you will find yourself living in a cycle of debt. For me I have found that taking cash from my salary always lands me short on something. I don't recommend a payday if it is that your income doesn't match your expenses because what that means is you just borrowing to make up and you'll have no way to pay back with being in distress.
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#27
(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 helps me a lot if I have an emergency and no money where I can barrow to my friends, it's good if you have any choice, but its bad if Barrow money for things luxury or etc.

Loan and use it properly purpose.
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#28
(01-08-2018, 08:47 PM)Ecuaman Wrote: I have seen so many articles and videos that say not to take paydays under any circumstances. Yet I can't help but think they must do some good to the economy. So when, if ever, are payday loans a good idea to use.

You've seen these articles and warnings because many people struggle a lot to pay off the borrowed amount and they end up in a vicious cycle where the money that they need to repay is only escalating leading them to bankruptcy and desperation. 

In my opinion payday loans in America are worth it only in case of emergency that you had not foreseen. I'm saying "in America", because the interest rates there are high. In my country you can find payday loans with 3% monthly interest rate if you look hard enough, so obviously 3% is not bad at all.

If I lived in the US and urgently needed some cash, I would turn to payday lenders only in case I couldn't borrow money from friends or relatives.
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#29
When payday loan is worth it? Will for me it helps me a lot of I don't have any money and if I have an emergency, payday loans is good but I only use payday loan for emergency not at all.

Payday loan is worth its not bad it depends if you abused it or not for me payday loan is for emergency only that's all.
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#30
Payday loan helps me a lot if I have emergencies or I need money quickly, payday loan is not bad not at all, payday loan is good or any loan is good if use it for a good purposes.

So its still your choice.
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