Has anyone ever had a payday loan? they say u can only renew 5 times does that include the1st time u open act.

Question

Has anyone ever had a payday loan? they say u can only renew 5 times does that include the1st time u open act.

Answer 1

Do not do this.  The interest rates are so high that it's like highway robbery.  Borrow from a friend or relative, and in the meantime look for a second job.

Answer 2

Dude its really not worth it! A buddy of mine did that and it turned into a long burdened cycle of debt. The customer loses way too much money for a simple payday loan! Stay away, get a credit card this will allow you to have money up front when needed, just be smart with it-pay it on time, dont use for stupid reasons- and you'll be fine!

Answer 3

Yeah I've had 15 different loans.  So each time the payment is to be made on your payday, it'll count as one time.  So 5 paydays after you get the loan you'll have to start paying towards the principal, usually like $50 plus the finance fee.

If you're gonna get one I say try out http://www.discountadvances.com.  They're the absolute cheapest and they let you pick when you wanna make your first payment.

Check them out and be sure to use referral code:  XJNZQE

Tell 'em a friend sent ya!

Answer 4

The only time I used it was when I was in the military and needed quick cash. I was in a bind and my family couldn't lend me money, it was my only alternative and I'm glad they helped me out.

ezloansource.com

Answer 5

All I can say is DON'T DO IT!  I got into that c**p years ago and it's a vicious cycle!