subject: Need Money Now? Go for a Payday Loan [print this page] Need Money Now? Go for a Payday Loan Need Money Now? Go for a Payday Loan
Everybody has seen how the recession has affected our lives. The changes on our usual budget and the depression it gave us. During these days, a short term loan was people's solution to sustain their normal way of living. Short term loan allow their customer to borrow a small amount of money and have it paid back on the next payday. The easy approval of this loan attracted people and made it the instant resolution for their financial shortage. This could have been the reason why there are a lot of payday loan critics.
For me, consumers and lenders should practice responsible spending and lending. Short term loan compared to others, has a higher interest rate. (APR and Interest rate are 2 different things) This means if they do not use and pay it wisely, there is a possibility that this can lead them to debt.
I remember the first time I used it; I was in a big trouble. I have this electricity and water that is overdue and it was like in the middle of the month. My friend advised me to try payday loan. I was hesitant at first, because I'm afraid to be in deep debt. In a second thought, I don't want to sit in the dark; so I applied online for a payday loan.
I was amazed on how easy and hassle free it is. I just signed up online, it shows you all the details you need to know. I faxed my pay-stub Online, when they called me to do checking, they even explained everything to me crystal clear. In 3 hours, I have the money I needed transferred on my checking account. It was awesome experience.
On the said due date, that was Tuesday, I had a few problems. I needed to extend it up until Friday. I knew, I'm about to be charged of NSF fee, but there's nothing I can do. I received an email from them saying there's a payment that they are about to send and I can contact them if I think it will be returned. I emailed them back detailing my situation and guess what; they even extended it for me. I never thought payday loan can be that fairer.
All in all, my experience was next to perfect, I think these type of loan can really help us turn disaster to a lot better. Paying high interest rate is nothing, knowing the fast service they provide you and knowing that you have option.
