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    4/17/2007
    Payday or Debtday?
    The good and the bad of Payday loans are very apparent.

    There you are feeling good about your current finance situation, maybe a major holiday is just around the corner and BAM! Your utilities bill just tripled out of nowhere, or your only car just died, or even worse a medical emergency has just drained your accounts and some.

    And in the depths of despair you hear a commercial or notice a web add for a payday loan site. Great it’s the answer to your prayers! Money in about 24 hours and you can make payments! Sweet!

    So you dig yourself out of one hole and into another. Did you read all that nasty fine print? Did you at least compare places? Find one with a better interest rate maybe? Do you now feel like you need another payday loan to pay this last one off? Payday loans tend to benefit the lender more than you, if you can’t pay the full amount on the first due date.

    You can go to payday loan blog and read some interesting feature articles and get the truth about payday loans, the good and the bad.

    They also give you some alternative options to getting a payday loan, such as seeking a company advance or getting help from a community group first, or even going to a community credit union since they normally offer the same programs at much lower rates. (Wish I had known this earlier!)

    This post sponsored by Paydayloanlowdown.com

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    posted by Tc @ 3:20 PM  
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