Same Day Cash Loans

In a day when everyone is struggling to just survive, you may look at same day payday loans as a good way to pay a past due bill or keep from bouncing a check. Take my advise, don't do it!! I am a good example of what can happen when you get in over your head, and try to borrow your way out. It can't be done. The payday loan companys have laid a clever trap. You come in and get your first loan, and they tell you to bring in the entire amount plu the fee on your next payday. The problem is, when when you get paid, if your like me, you have more bills to pay. So, you end up taking out the same day cash loan again, or worse, you go to another loan company and get another loan.

Then you end up in a snowball that never ends. I had even gotten to the point I was taking out loans over the internet. I would give my account number and they would deposit the money, then when I got paid they would debit the fee from my account. It was a nightmare that almost drove me crazy. I ended up having to close my account and going to another bank. I am ashamed to tell you how much this cost me. I thought I was a smart person. It was just so easy to get the money, then you spend months trying to pay it back. I will attempt to help you to avoid this by giving you some suggestions.

Same Day Cash Advances - A Good Idea?

First, assess your situation. How far behind are you? Will missing a payment cause a reposession? Are your utilities about to be cut off? How many checks will you bounce? See what the least amount of money you need to get ahead. Then look around and see what other options you have. Can you borrow from a friend or relative? I know difficult this can be. But trust me, it is a whole lot more difficult to explain how you got thousands in debt with same day payday loan companies. Then your loved ones will ask "why didn't you come to me before it got this bad"? Another option I have found is selling old gold. Right now is a great time to sell old jewelry. Gold is at an all time high. Be sure and check around so that you are going with someone you can trust. You would be suprised at how much you can make. Another option I have found is pawning your car title. I know this sounds scarey, but it really is better than a payday loan. The rates are better, and as long as you pay a monthly payment, your ok. Most of the time you can pay a small car loan back in six months. Another option is a loan on your 401k. I know that you are advised against this, but if you are desperate, it is better than dealing with these payday loan people that are out for blood. When you back is against the wall, you can get very desperate. I know, I have been there. The last alternative I have is having a garage sale. I know it sounds corny, but i have made alot of money doing this. I gathered up all my old stuff and got up early on a Saturday, and got busy. I made enough to pay for my kids birthday party! It is really easy money.

Finally, if you find yourself in a mess like me, I am going to teach you how to get out. First of all, if you have written a post dated check to a same day cash advance loan company, let them take it to the bank. Your bank will more than likely return the check unpaid. Then they will contact you about repayment. If you let them go ahead and charge the check off, you can still pay it off in small increments. I have done this. They really will work with you if you are making an effort. Even if it is only twenty dollars a month, it will eventually pay off. Second, learn cash is your best friend. If you pay cash for everything, you wont have to worry about bouncing a check. If you don't have the cash, don't get it. This is a very valuable lesson. Finally, don't let yourself be intimadated by thes companies. I have learned to go on the internet and reserch anyone who calls me and says I owe them money. I have found that most of the time, they are scams. When you start using these companies, its like you name and number gets on a list. Don't send any money unless you are sure you owe it!! Just do yourself a favor, don't get caught up in it!!