Quick Pay Day Loans
t's obvious that a payday loan must be paid back,when we have received that payday loan.
There will always be consequences if you don't pay that loan back.
Payday loans are a very simple way to have cash in your pocket for people who don't have access to credit cards.
But you got to know that these payday loans have very high interest rates.
If let's say you're radiator is broken and you need some money to fix it quick.
And it only takes a couple of weeks before get your next paycheck ,to pay back the loan
everything is okay.
Interest you'll pay on the loan will still be high, but for this kind of emergency situations. A payday loan can be a blessing.
But what can be the consequences if you don't pay back that payday loan.
What will happen is that the interest on the original amount of money will be sky-high
For example a $400 loan can easily become a $1600 obligation.
If you don't pay the loan, the lender will take you to court and if you lose this case you can also pay their attorney’s and court fees.
So a $1600 obligation can become a $3500 debt.
Then they can get hold of your property take the money in your checking accounts. Take your real estate all to satisfy the judgment.
So if you lend the money to fix your radiator and you don't pay your payday loan.
At the end of the day you can also end up losing your car or home
In some places you can even be arrested if you don't pay back the payday loan.
But you could not be arrested if you fail to pay off your credit card.
So why is it that failing to pay off your payday loan can get you landing in jail?
The answer is that to get a payday loan, you must write a post dated check.
They will arrest you in some places if you write a bad check.
So it’s very crucial that you read the small print when signing the payday loan contract
So is it a good idea to get a payday loan? If you realize that the payday loans have a very high interest rate.
And that you got to make sure to pay the loan on time,
Such a loan can be a godsend gift if you need it in any emergency situation.
Specially if you do not have any credit, and you can not lend from friends or family,
And you need some cash in a hurry; these kinds of loans really can save your day
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