Payday Loans stories please!, Payday Loans stories please! Beállítások

[bining]

Hiya guys,

I'm writing an article for an online magazine called Planet Ivy about students taking out short term/pay day loans. I had one myself whilst at uni (just graduated in July), and I definitely wouldn't recommend it, but I'm looking for some general stories about/thoughts on them, if anyone's willing to share.

Thank you

[tethysunrigged]

Very dangerous and best avoided I would say, due to the huge interest rates etc. You're probably better off using a credit card/getting a loan from the bank

[ambiguousscourge]

Very dangerous and best avoided I would say, due to the huge interest rates etc. You're probably better off using a credit card/getting a loan from the bank

I have taken out two over the past five years and my view is that people really scare mong them.

When somebody takes out £100 they pay on average £125 over 30 days. The media however likes to report the huge annual APR sums because it suits their agenda despite the fact that the loans are not over a period of a year.

Would i advise taking one out? No (Get a dam job). Are they as bad as the media suggests however? No. When one looks at the people that take them out and keep renewing them it's typically to maintain their lifestyle because there not willing to give up coffee ect.. and strip down to the bones.