Loan or Cash/Payday Advance??
Wһісһ іѕ better, tο ɡеt a loan οr one οf those Payday Advances? I οחƖу need аbουt $200, bυt I οחƖу mаkе аbουt $100 a week, ѕο I wουƖԁ need a couple οf weeks tο pay іt οff…wһаt іѕ tһе ԁіffеrеחсе between a loan аחԁ a payday advance? Thanks іח advance!
I аm having ѕοmе financial trουbƖе, I аm חοt purchasing anything rіɡһt now…I аm slowly going іח debt аחԁ I аm οחƖу 19…I аm trying tο ɡеt out οf tһеѕе debts fаѕt! Thanks
10 Responses to “Loan or Cash/Payday Advance??”
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be sure with either, its a low interest loan. some companies can charge up to 300% monthly on your loan.
Depends…where would you plan to get a loan? Most loans are for huge amounts and are backed by a mortgage; I don’t know where you would get a small loan, but I suspect that that’s why payday advance companies were set up. If you need that small amount perhaps you can stall your purchase for a while till you can pay for the item. People use payday advance because it’s convenient but the interest rate is huge and is made huge and difficult to repay by the company doing the loans so people will keep paying and paying.
Avoid those payday advance places, they charge interest that would make the mob blush … when you say a loan? you mean from someone you know? $200 is too small amount to get a loan from most places … if you have a credit card, you can advance yourself money via paypal – when they ask the reason at PAYPAL, do not click on CASH ADVANCE – that rings a bell with the credit card comapny – just say you’re paying off a non ebay auction (ebay owns paypal).
Loans are harder to get but yet cheaper. They are usually more for long term payments. however I don’t see why a bank would not give you one if you qualified. apr’s depend on credit. but are usually less then 20%
Payday advances you usually just need a checking account. You give them a signed, post dated check and then on payday you deposit your pay check and they cash the check.
The interest rates on a payday advance are outragous upto a 200% apr.
Personally I would stay as far away from a payday advance as possible. Many states are beggining to question on if they should be more regulated and they usually just make even bigger financial problems.
If its something that could be paid of quickly I would probably put it on a credit card. Intrest will be higher if you only pay minimum balance every month However, It will be lots cheaper then a payday advance. However, if you can have it paid off by the the due date on your billing statement there is no charge.
Well Check N Go, or Check into cash are good places to use. I recommend CHeck N GO. You borrow 255 dolars but have to pay 300 2 weeks later. I think you should have both of your moms help you out.
loans and payday advances charge high interest and can take a long time to pay off. My friend she goes to the check cashing places but she always pays them off on the 1stor 3rd her husband gets 3 big checks from Veterans disabilty he’s 100% disabled as a result of being exposed to Agent Orange in Vietnam.
For that amount apply for a credit card. Payday advance will charge an outrageous fee (interest). You won’t be able to get a traditional loan for that amount. Most credit card offers have a period of zero interest, for first timers it is usually 3-6 months. That would give you adequate time to pay off the $200. The difference between a payday advance and a loan is that for a loan they review credit and you ability to repay the debt, whereas a payday adavance they just charge you something like $15-$30 per 100 dollars borrowed up front without doing a credit check.
don’t get a payday loan.. chances are with your low income that they won’t approve you anyway..
try to just pay off the debts as you get the money or borrow it from family, but at all costs – avoid the payday loans!! trust me!!
Payday advance is a rip off & charge like a 300% interest rate stay away from them. You’ll never get out of debt
A payday loan is one of the easiest loans to get. There is hardly anything required to be approved for it. Most of the times, you just have to prove you are above 18 years, have resided in your current place for the last 6 months, hold a checking account, and earn more than $1,000/$1,500 each month.