Has anyone ever gotten a payday loan?What happened...?

The effective interest rate on one popular loan company is a staggering 99.25% APY. I won't list them in case someone's dumb enough to take the loan.

Fees and penalties really make these things a BAD idea. They're predatory and wrong.

It's really not that high by a long shot.

Go to one of those check cashing places (Check Into Cash or whatever is in your area) and it's about as quick and easy as can be.

You'll need a utility bill with your name and address on it (to prove you live there should they need to collect) and a pay stub (to prove you do have a job and what your pay dates are).

It's been a while since I've had to use one of those, but I want to say for a $500 loan, I had to write my check for $625 or so. Once payday rolls around (and the postdated check is good), the company will simply deposit the check and there's nothing else you need to do.

Just be careful using them because those fees really add up over time.

yes i made the mistake when i was down and out now im in more trouble because of them---DO NOT DO IT!!!--it is financial death--im there i know--hate to admit being a dumb a-- on national web site but maybe i can keep someone else from making the mistakes i have----get help somewhere else yes it is about 350% interest depending on which one you go to--some are more--15$ per hundred borrowed for a two week loan--and two weeks is the max, some only go a week, or your next payday

AVOID payday loans at all costs. The interest rate is outrageous.

Whatever you need (other than food and rent), put off buying it until you have the actual money.

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RE :Has anyone ever gotten a payday loan?What happened...?

...was it really like a 300% interest rate?

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