Q&A: Okay, so I hear of all the BAD stories about Payday loans, but does anyone have GOOD ones?

Question by Bizzy: Okay, so I hear of all the BAD stories about Payday loans, but does anyone have GOOD ones?
I’m thinking of getting a payday loan or a bank loan…just in need of one right now. I know about all the warnings and everything, but I wanted to know if anyone tried it, and has had no problems with the institutions. Any suggestions? I mean I am researching and I just want a legit one. Any good and legit websites for these?
And just to let you know I ain’t beat on that “richards_loan_agency@yahoo.com” thing. Its a scam. I just wanted to put that out there if someone else comes across that comment. Anyone with a yahoo address for a loan company is a joke.

Best answer:

Answer by falcon.medical
Payday loans are good for getting yourself out of a bind, but remember that you *must* repay the loan ASAP. The interest is a killer and if you don’t repay, it only goes up!

I have done payday loans (in my youth) and they were lifesavers, but you *must* repay them. Don’t build one on top of another and start rotating — that’s where you get into trouble.

Look for another source of income before you take this path — if you can get a bank loan or a credit card to cover, you are better off. If, however, you decide to go with a payday loan — make it for as little as you can possibly get by with, and pay it off ASAP.

There are many legit companies — not knowing what state you are in doesn’t help, but in California: CheckintoCash is a good one, and there is even one online called MyCashNow that is good as well. I’ve used both, and they are legit.

Good Luck!

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