Has anyone had any positive experiences with payday loans?

Question

Has anyone had any positive experiences with payday loans?

Answer 1

No...

Payday lenders for exploiting people's financial hardship for profit. Lenders target the young and the poor, particularly those near military bases and in low-income communities.

They also say that borrowers may not understand that the high interest rates are likely to trap them in a "debt-cycle," where they have to repeatedly renew the loan and pay associated fees every two weeks until they can finally save enough to pay off the principal and get out of debt

Borrowers visit a payday lending store and secure a small cash loan, usually in the range of $100 to $500, with payment in full due at the borrower's next paycheck (usually a two week term).

Finance charges on payday loans are typically in the range of 15 to 30 per cent of the amount for the two-week period, which translates to rates ranging from 390 percent to 780 percent when expressed as an annual percentage rate

Answer 2

I've never heard of one yet.  I don't think such a thing exists.

Answer 3

Payday loans, you borrow money. You pay the money back when you get paid from your job.   I have no problem with it.

Just make sure you borrow what you can pay back.