Hey everyone,
Have taken a lease for half a year ago, but accidentally spoiled my finance situation a little bit and im in risk of not paying on a lease paying day. Can anyone recommend me any good payday loan agencies that are not a scam?
There’s a grace period of about 10 days on a lease (check your contract). Even if you go over 10 days, and have to pay a penalty, it will still be cheaper than a payday loan (most likely). Where you get into trouble is 30 days late…that’s when it hits your credit report.
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Wont ever recommend using any of those scam loan agencies. You’re better off putting it on a credit card, borrowing it from family/friend/etc., charging it to a debit card that has overdraft, etc. Anything but going to a payday loan. Those places are a never ending cycle of pain, misery and screwing people over.
There is no legitimate PayDay Loan scenario and many states have outlawed them for predatory lending. You will end up paying astronomical interest assuming they’re still legal in your state - think 30-40% interest.
The advice you’ve received here above is sound.
Pick up a part time job - and pay as you get some money. They will not come looking fo you if you are 10-15 days late.
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About 7 years ago, a friend of mine at work was visibly upset one afternoon and I am rarely one to pry, but it turns out she buried herself in some payday loan to the tune of around $3000 now that interest was compounding. She was upset because they were calling her work number and threatening her with collections and made some fishy statement about a lump sum payoff that was less than the amount owed. I knew nothing about these so I did some research and long story short, got her payment reduced to the original principle owed because the lending was in fact illegal due to state licensing. If I remember correctly this even involved the attorney general.
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Here is why you never borrow from Payday Loan “agencies”:
They don’t exist and this thread won’t be allowed to become a magnet for spam.
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