Have you ever borrowed from a payday loan?

place? if so why and how much.. do u think its right for the goverment to try to close them down. here in ohio they want these places closed or regulate how much u can borrow. does this seem fair

Have you ever borrowed from a payday loan?
well I have one that i deal with if I really needed...they want 30 dollars for every 100 dollars...its a lot but its good when i really need it.
Reply:Before you rush to do a search for “payday loan online” there are a few things you should know about how these types of loans work and what alternatives are available. A payday loan is a short term small-balance loan that is intended to tide you over till your next payday arrives. They can be conveniently obtained as payday loans do not require a credit check. If all you have are a checking account and two recent paychecks, you may be a customer. But there’s a price. You may find a payday loan here,





http://www.worldbestloans.com/





Whether you are applying online or in person, you must at least have a checking account. Payday lenders will require you to write them a postdated check for the loan amount plus the finance charges. In exchange for the high risk loans, payday lenders charge a fixed fee for a fixed period, usually fourteen days and if you happen to miss the fourteen day deadline, there’s a penalty fee that is added to your charges along with another set of fees to roll over the loan through another period.
Reply:What U R doing is borrowing against your next day check,but in doing so,you're going to be hit by ultra-high interest rates,especially if U don't pay them on time. They can charge as high as 500% interest on top of your paycheck. My state (Arizona) is due to make them illegal by 2010,but the financial industry is trying to 'remake' themselves by putting an initiative to the voters a 'reform' bill that would allow them to keep themselves in business in the state indefinitely!





One piece of advice,don't go there,please!
Reply:Ive never used one and I never will! I do believe that they should all be shut down because yes some people need them and use them responsiably but most people abuse them and they are just cause people more debt.
Reply:I've never used one, but one time I tried, they wanted to be paid in full before I did! Don't trust 'em.