Payday Advance Loans?
- Thread starter darkchild16
- Start date
I worked at a payday/title loan place and my advice is stay away.
If you are in a hole, borrowing money will not dig you out. The only way out is to make more money. I know it's probably beneath you, but check out McDonalds for a while, until you can find something else. They are almost always hiring and they start out over minimum wage around here because they have a hard time getting employees. See about getting Bev into a Headstart program if you need money for daycare/whatnot.
If you are in a hole, borrowing money will not dig you out. The only way out is to make more money. I know it's probably beneath you, but check out McDonalds for a while, until you can find something else. They are almost always hiring and they start out over minimum wage around here because they have a hard time getting employees. See about getting Bev into a Headstart program if you need money for daycare/whatnot.
I would stay away from the payday loans. If you are in a bind, Outline is right, getting a loan is not going to dig you out, because it will cost you more in the long run. Especially if you are already overdrafting your account every month, you probably won't be able to pay it off with the next paycheck, without being in the same position you are now.
I found this about payday loans: The interest rates for such transactions are staggering: 911% for a one-week loan; 456% for a two-week loan, 212% for a one-month loan.
Do you have any hobbies that could make you some money? Are you good at any subjects in school? I charge $20/hour for tutoring.
Maybe you could find someone who needs help getting groceries and you could maybe do their grocery shopping for them?
Mowing lawns or raking leaves? Cleaning houses?
The better option over the payday loan is to talk to the people you have bills with. Tell them your situation, and they are more likely to be helpful and understanding than a quick-loan place.
I found this about payday loans: The interest rates for such transactions are staggering: 911% for a one-week loan; 456% for a two-week loan, 212% for a one-month loan.
Do you have any hobbies that could make you some money? Are you good at any subjects in school? I charge $20/hour for tutoring.
Maybe you could find someone who needs help getting groceries and you could maybe do their grocery shopping for them?
Mowing lawns or raking leaves? Cleaning houses?
The better option over the payday loan is to talk to the people you have bills with. Tell them your situation, and they are more likely to be helpful and understanding than a quick-loan place.
First of all, I agree on the hospital debt. Renegotiate. They'll actually write off amounts you owe and help you with payment options for the rest. If $100/month is too much, then it's just too much.
I don't mean to assume anything, but if you aren't already, talk to all of the institutions to which you owe money.
Also, there are nonprofit consumer credit counseling agencies that can help you. Don't touch any of the for-profits that advertise everywhere (and charge a bazillion dollars). It sounds like you need help figuring out repayment options and help with past credit issues. I think this would be a great option for you.
I'm sorry I don't have a better short term solution. I really hope that you are able to avoid payday lenders.
I don't mean to assume anything, but if you aren't already, talk to all of the institutions to which you owe money.
Also, there are nonprofit consumer credit counseling agencies that can help you. Don't touch any of the for-profits that advertise everywhere (and charge a bazillion dollars). It sounds like you need help figuring out repayment options and help with past credit issues. I think this would be a great option for you.
I'm sorry I don't have a better short term solution. I really hope that you are able to avoid payday lenders.
Hello - I do not post much but I had to respond to this one. In the last year we have found ourselves in the same boat..... just not enough $$'s to cover everything! I will concur with others in not choosing the Payday type loans. I have a friend that works for one and she is amazed that they are still legal, she sees people that will never be able to payback what they owe.
Anyhoo, as I said we were in the same boat and I had considered daycare but I really don't enjoy taking care of other people's children! I posted flyers for housecleaning but there seemed to be more housecleaners than houses to clean! I ended up doing pooper scooping! I started by just posting a few flyers around town... groomers, the veterinary clinic, and the feed store. Within a few weeks I had 3 yards to do and now 8 months later I clean 9 yards. We live in a very small town and most of the work has come to me by word of mouth. I keep prices low, do a wonderful job and provide a few extra's (fill water bowls, do a cat pan or two) at no additional charge.
Just an another idea to earn a few extra dollars!
Anyhoo, as I said we were in the same boat and I had considered daycare but I really don't enjoy taking care of other people's children! I posted flyers for housecleaning but there seemed to be more housecleaners than houses to clean! I ended up doing pooper scooping! I started by just posting a few flyers around town... groomers, the veterinary clinic, and the feed store. Within a few weeks I had 3 yards to do and now 8 months later I clean 9 yards. We live in a very small town and most of the work has come to me by word of mouth. I keep prices low, do a wonderful job and provide a few extra's (fill water bowls, do a cat pan or two) at no additional charge.
Just an another idea to earn a few extra dollars!
You are only required to pay something like 5$ every two months on a hospital bill so drop that off your list right now. They might try to tell you you made a deal etc but stick to it. And a lot of people get a large amount dropped if they can prove the money is just not there. We have a whole financial hardship office.
Go around and offer to clean or wash cars etc.
Don't do the pay day loan. They will only get you in trouble. Hopefully things will start looking up soon.
Go around and offer to clean or wash cars etc.
Don't do the pay day loan. They will only get you in trouble. Hopefully things will start looking up soon.