Payday Loans Help Preserve the Peace


I began thinking Payday Loan big-time when I heard about my mom-in-law trying to get a sneak-peek at how I was keeping her newly wedded 'little girl.' It was the end of a hard day at work when I received the call. Bad news is the way I would have put it had it not been for the friendly neighborhood payday loan company. What with the last payday being an integral part of history and with my pockets not having the amount of dough needed to keep mom-in-law happy, I just had to get me some cash - and really fast!

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Though I had never used their services before, a friend - and a really good friend indeed - introduced me to this lifesaving, and at times life-taking, financial service that's guaranteed to get you out of your financial soup within hours literally!

Now, I was lucky being introduced by a past customer with a really good repayment history. That is what made getting the payday loan super fast for me, or else I would have had to wait for 2 days at least! Two full days to get cash into my pocket!?! Hey, I really did not mind at all. But getting it faster was even better.

The Easiest Loan I Ever Wangled

To get a payday loan I never really needed an introduction or even a good credit history or any credit history at all. I just needed to produce my checking bank number and employment ID. That's it, the cash - as much as 90 percent of my pay would be deposited into my checking account the very next day. There were charges for this unsecured loan however, and that was covered by the high interest they charged me. But hey, I'm not grumbling cause mom-in-law was treated really well and she was none the wiser that we were near broke just two weeks from payday. Oh yes, I had to repay the payday loan by the next payday. That is why it is called a 'payday loan'.

It's the Cleaners If You Fail To Pay

So what happens if one fails to repay the payday loan at my next payday? They take them to the cleaners - that's what happens. Now, they don't literally turn you upside down and shake all the cash out of your pockets or send in the muscle to break a leg and an arm, but they do have a way of getting you to cough up, though they are really in no hurry to get all their cash back, but why?

Pay Up Fast - It's In Your Interest

The interest is why. Though there is actually no interest on a payday loan there is a one-time 'fee'. This fee could amount to as much as 35 percent depending on the company. Then, if you fail to repay by the next payday your payday loan 'rolls over' to the next month, which means another fee plus some penalty. This way you end up paying back nearly 150 percent of the loan amount. So, now you know why you're the one in a hurry to repay the payday loan. So far as they are concerned you can keep it as long as you want!

But I paid up my PayDay Loan. And next time mom-in-law decides to come around, I think we'll be vacationing in Alaska!


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