Have you ever been so broke you took out a payday loan?

[winb83]

Blew a tire on the car and couldn't afford to fix it. My credit was fukked up so I went to one of those payday loan places. Bad part is I got a used tire to replace it and that one blew out later and caused an accident that totaled the car.

This was about a decade ago. First and last time I ever did that. They used to call me trying to get me to take out another one. I guess they wasn't used to people paying that shyt off next check and cutting ties with them after.

 

[Piff Perkins]

What was the interest rate? I remember peeping an ad for one that had a 30% rate mentioned in the small print.

 

[Tflasha]

yea and never again... I was young and just got laid off from working at samsung, applied to at least 70jobs in a 2month span, not one called back.took a shawty I use to mess with to put a word in with her mother "who loved me" to get me a job.. should've thought of that sooner, but the damage was already done

 

[Remote]

Lol. No.
Taking a payday loan is worse than being broke.

 

[big bun]

I’ve been there.

 

[Collateral]

Payday loans are illegal my state but if it weren’t, I probably would have taken some out. I’ve been broke & desperate before no homo.

 

[kwazzy100]

Lol. No.
Taking a payday loan is worse than being broke.

This, but taking an installment loan is 100x worse. I have 4 years left to pay off a loan company sucking my money out every paycheck I got. I didn't really knew better and I was in need of money.
Take this from me, NEVER mess with these loan sharks. Never worth it. Suck up your pride and get a loan from friends or family and pay them back as soon as possible.

 

[Vilify]

Yep many yrs ago I borrowed $200 from an online payday lender and made weekly payments of $50. But after 2 months of payments I still owed the principal balance. Not to mention all the overdraft fees from my bank.

Eventually my bank closed my account so the weekly payments stopped. The company threatened to sue me but as it turns out, payday loans are illegal in my home state so they had no legal recourse against me. Overall the $200 loan ended up costing me like 6 or 7 hundred dollars.

 

[Jahbarri]

Blew a tire on the car and couldn't afford to fix it. My credit was fukked up so I went to one of those payday loan places. Bad part is I got a used tire to replace it and that one blew out later and caused an accident that totaled the car.

This was about a decade ago. First and last time I ever did that. They used to call me trying to get me to take out another one. I guess they wasn't used to people paying that shyt off next check and cutting ties with them after.

Lol good u never went back , ya it happens breh.. all honesty .. sometimes u gotta do what u gotta do when your backs against the wall and no one to help you or assist..


I personally just get a loan on gold I own whenever those situation ships arise and I’m low on liquid.. I only pay 5% interest in a month so 2k I just gotta pay back 2100

 

[Umoja]

If you're desperate enough to take out a payday loan, receiving it will only make your situation worse.

 

[Michael's Black Son]

yea and never again... I was young and just got laid off from working at samsung, applied to at least 70 jobs in a 2month span, not one called back.took a shawty I use to mess with to put a word in with her mother "who loved me" to get me a job.. should've thought of that sooner, but the damage was already done

 

[MikelArteta]

I have was in a bad rut after I got in a car accident like 8 years ago and I did it like four times .

 

[MikelArteta]

What was the interest rate? I remember peeping an ad for one that had a 30% rate mentioned in the small print.

I would get 300 and have to pay back 360

 

[FLORIDA BOI]

Hell yea

Back in the day I had a caddy put it up. My dumb ass was young broke needed money for the weekend . they gave me 600 for a car worth bout 4000 . they thought I was gone slip up. Shytttttttt paid dat shyt off never did it again tho.

Iv seen nikkas goin through it with payday loans that shyt janky as fukk.

 

[Mandarin Duck]

Yes and it was stupid as hell.

I always put rainy day money away now.

I actually just ran into an unexpected expense and the fact that I have side money just for occasions like this gives me so much more peace of mind.