| Bad Credit Cash Advance Loans |
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SharonB
New Member
Cash: $ 0.75
Posts: 3
Joined: 06 May 2008
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| Bad Credit Cash Advance Loans |
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If you are in need of extra cash until pay day, you may want to consider applying for a pay day or check loan online. A pay day loan can be obtained online and with no credit check. Bad credit will not disqualify you from qualifying for a pay day loan. You can use the money for what ever purpose necessary and the money can often be deposited into your checking account the very same day you apply. All you need is a checking account, and a steady source of income and you can get up to 1000 dollars or more deposited directly into your checking account.
A pay day loan is designed to fulfill your short-term financial needs and should not be used as a regular lending source. The fees charged for pay day loans can be higher than a traditional loan from your bank and should only be used to solve temporary or emergency financial crises. Repeatedly obtaining pay day loans can cost you a lot of money if you extended your pay off date numerous times or if you continually borrow against your next pay check. If a short term pay day loan is the best choice for you, you can be approved and have up to 1000 dollars or more deposited into your checking account sometimes as soon as the very same day you apply.
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Tue May 06, 2008 10:05 pm |
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pf101
Senior Member
Cash: $ 62.25
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Joined: 12 Sep 2007
Location: Portland, OR
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NO. No, no, no, no, no. A thousand times no.
The effective interest on a payday loan is 300-600%/year. There is nothing worth that. If you're having problems paying your bills, call your creditors and work something out. With the way things are right now, creditors are pretty willing to work out a payment plan that works for all involved.
Unless you will die (literally, fall dead on the ground) without that money, there is no reason to get a payday loan - or a title loan - or any other of those types of loans.
Personal Finance 101
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Wed May 07, 2008 2:35 pm |
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pf101
Senior Member
Cash: $ 62.25
Posts: 311
Joined: 12 Sep 2007
Location: Portland, OR
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It's ironic. The day after I responded to this i had a payday loan company contact me about advertising on my site. i responded back that apparently they'd missed the article on my website about how payday loan companies are instruments of the devil. I've not heard back from them yet... 
Personal Finance 101
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Fri May 09, 2008 11:38 pm |
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pf101
Senior Member
Cash: $ 62.25
Posts: 311
Joined: 12 Sep 2007
Location: Portland, OR
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Seriously. I mean DUH. I just cracked up.
Personal Finance 101
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Sat May 10, 2008 2:46 pm |
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financialpeace
Contributing Member
Cash: $ 6.20
Posts: 31
Joined: 21 Feb 2006
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I fully agree with every previous poster EXCEPT the OP.
Nice advertisement SharonB, but I'm gonna have to give you a... NAH! on that one. Let's see, maybe I can write one too...
" quote:
If you are in need of extra cash until pay day, you may want to consider ...
doing a budget next month, saving for a small emergency fund, and stop spending more than you make, instead of getting a stupid payday loan."
" quote:
All you need is a checking account, and a steady source of income and you can...
begin to live on a budget, spend less than you make, save for an emergency fund, pay off all your other debts, invest for retirement, and build wealth, so that you can give a bunch of it away and change the world you live in!"
" quote:
A pay day loan is designed to fulfill...
all of your worst nightmares of overdue bills, mounds of debt, unbelievable interest fees, and if you use them enough, you might get to meet "Johnny the Exterminator" who will break your legs and still collect the money!"
See, I too can write a pretty cool ad...
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Thu May 22, 2008 6:09 pm |
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financialpeace
Contributing Member
Cash: $ 6.20
Posts: 31
Joined: 21 Feb 2006
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Payday loan are:
quote:
Originally posted by pf101
instruments of the devil.
Yep! 
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Thu May 22, 2008 6:13 pm |
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financialpeace
Contributing Member
Cash: $ 6.20
Posts: 31
Joined: 21 Feb 2006
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coaster,
that previous post is by far the shortest I've ever done... I'm on a 12 step program for post-aholics. 
I'm trying to learn how to summarize in 3 words or less. So far, it's not working out that good for me.
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Thu May 22, 2008 6:15 pm |
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moneysaver
Member
Cash: $ 3.25
Posts: 16
Joined: 10 Jul 2008
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Advance pay day check cheques are the worst idea ever!!!
Do not do it!
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Fri Jan 23, 2009 11:50 am |
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oldguy
Senior Member
Cash: $ 751.85
Posts: 3656
Joined: 21 May 2006
Location: arizona
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quote:
NO. No, no, no, no, no. A thousand times no.
The effective interest on a payday loan is 300-600%/year. There is nothing worth that. If you're having problems paying your bills, call your creditors and work something out.
It depends - our attorney general tried to push thru legislation to outlaw Payday Loans. Here was the response he got from people.
When the Friday mail says that this is your third notice - your electricity shall be disconnected at midnight, that means that you will spend the w/e with no lights, no heat, no refrig - your food will spoil, your kids will be cold, dark, hungury. And Monday you will need to pay $200 in back bills, and $150 hook-up/security fee to get re-instated.
Or you can get a $200 PayDay loan, run down and pay the $200, and avoid the whole ordeal. At that point, the $20 fee makes a LOT of sense, the borrower doesn't much care if your exercise in mathematics yields 300% APR or 600% APR, the $20 fee is a good deal.
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Sat Jan 24, 2009 9:10 pm |
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multimastery
Full Member
Cash: $ 8.35
Posts: 53
Joined: 20 Dec 2005
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quote:
Originally posted by oldguy
quote:
NO. No, no, no, no, no. A thousand times no.
The effective interest on a payday loan is 300-600%/year. There is nothing worth that. If you're having problems paying your bills, call your creditors and work something out.
It depends - our attorney general tried to push thru legislation to outlaw Payday Loans. Here was the response he got from people.
When the Friday mail says that this is your third notice - your electricity shall be disconnected at midnight, that means that you will spend the w/e with no lights, no heat, no refrig - your food will spoil, your kids will be cold, dark, hungury. And Monday you will need to pay $200 in back bills, and $150 hook-up/security fee to get re-instated.
Or you can get a $200 PayDay loan, run down and pay the $200, and avoid the whole ordeal. At that point, the $20 fee makes a LOT of sense, the borrower doesn't much care if your exercise in mathematics yields 300% APR or 600% APR, the $20 fee is a good deal.
I agree with this post directly above. Yes Payday Loans are definitely higher than traditional loans no doubt. BUT depending on the detriment of an individuals situation, this could be the best & cheapest way out of a tight squeeze. With the massive late fees and overdraft bank fees that can be imposed on a person when they don't money to pay their bills on time -- A Payday Loan just might be the cheaper solution. Bottom Line: It really all depends on a person's situation. And no one knows how tight that is unless they themselves are in it.
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Tue May 19, 2009 11:22 pm |
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