I have an emergency situation where i need to get $1000 fast for my car to be repaired. I need the money fast but I still want to not get screwed over. My friend suggested an online site that he used before called instantbailoutdotcom I looked it over and it looks ok, but I am not sure what is a reasonable rate for a payday loan. Is there a standard for this type of loan? Also does a payday loan effect your credit?
In my opinion payday loans are something nobody should ever consider. I got into those many years ago and they are nothing but a trap because you must pay the full loan back at one time in order to stop paying their outrageous interest fees. If you can't pay the full amount of the loan then all you can do is keep on renewing the loan by paying more and more interest. If you don't have the funds to fix the car now how will you come up with that lump sum at one time to pay back the loan? That is something you want to think about now before you get into payday loans. I didn't have a steady job back then. I was working but the job was about to end when I took out the loan. I just didn't know that at the time. I was about to get my lights shut off by the power company and so I borrowed about $180 to keep that from happening and before it was all said and done I probably paid close to $1,000 for the $180. That seems to be about the way it goes for most of those who fall for the payday loan scams. You may feel there is no other way to get your car fixed and you must have your car so maybe you will have no other choice. But if you go for it you need to understand that you are going to get bled to death trying to get it paid off.
Ditto. If it comes down to a payday loan and not getting your car back, take a cab. You might need to get creative of just resign yourself that this car repair is going to be very expensive. Good luck.
