Question by CaliKaty: Is taking out a pay day loan my only option? I need a very fast $ 1500 and I don't know the best solution. I live in Los Angeles and work a full time job and have another part time job on the side. However, even with that, money is still very tight. Under normal circumstances, I am able to make ends meet every month, but I rarely have much of anything left over. However, the last few months have been filled with a string of family financial problems. My parents are close to foreclosing on their house and the my dad was laid off. Consequently, I have had to help my parents pay their mortgage and bills. It is deeply saddening to see them in that state and has been horribly embarrassing for my parents to have to ask me for money. All in all, I make about 2100/month, including tips. I pay about 950 in rent and utilities and 75 for students loans. Then there's insurance, food, and some expensive prescriptions thrown in. However, because I have had to give my parents a substantial chunk of money each of the last few months (and pay my brothers rent when he couldn't, last month), i have been left with just barely enough for rent this month. I don't have any credit cards or a car. After college I had a hard time paying students loans and they went into default. However, they gave me a one time opportunity to pay my way out of default and clear my record. I did that and am back in good standing. However, this is still on my credit history (something that I have filed a claim about). Due to my own stupidity, I am facing a very big need for $ 1500 ASAP. This morning when I went to the DMV to apply for my CA license (from Nevada), I found out that I have an outstanding ticket from more than a year ago. I want to kick myself. Basically, I need to have a license that is valid (and warrant free) because my full time job requires me to run errands on a daily basis...and because I would like to avoid jail time! I called the courthouse and if I pay the ticket amounting to around $ 1500. it will be done with and I can get my California license and be legal and move on. However, I just don't have it. I don't have anything even close to it. Nor do my friends or family members. If I owned anything that was of any value, I would sell it. I can't come up with a fast solution. I have read lot's of horror stories about payday loans and 90 day installment loans and the last thing that I want to do is get back in over my head and spiral back in default. It was a terrible feeling. Is there any other reasonable solution? And if taking a payday loan is the only answer, how do I avoid shady practices? Lastly, in order to compare payday loan's, it appears that I have to fill out the forms with my info on their websites. Is this something that the credit bureau's see? I don't want to negatively impact my credit score by simply "applying" online to see quotes. Thank you for taking the time to read this long post! Best, K Best answer for Is taking out a pay day loan my only option?:
Answer by Tim
I know that my bank (US Bank) has "payday" loans - basically advances against the next direct deposit. Maybe something like that would work for you???
Answer by madamsmall
How's your credit other than the student loan issue? Have you pursued getting a personal loan from a bank first? You have good enough income to support a loan. How about a credit card? You can use it to pay the ticket then pay it off monthly. How about a loan from your 401K? Pay day loans should be your last resort. If you MUST get one, plan ahead and know exactly when you can pay it off, and how much this is going to cost you.
One reason why many clients do not seek out payday loans is because of bad credit or a lack thereof. However, many payday loan companies, even 90 day payday loans no credit check, accept candidates with bad or no credit. Companies are able to offer 90 ... Long Term Pay Day Loans for up to 3 Months Were Announced by ...
What is the option when you urgently require money but then cannot repay within the next month or salary day? The best recourse here is to go for a 90 day loan. You get instant cash within 24 hours and you need not sweat it till next payday to repay but can pay at leisure within next 3 months. You can easily get an amount of £ 80 to £ 1500 as a cash advance.
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So this gives you ample time to repay. What�??s more you will not have to go anywhere meet anyone just sitting at home at the click of a mouse the money can be yours. So what are the criteria to avail such an advance? You need to prove that you are a valid UK citizen. You should be employed and should have a minimum income of £ 1000.
You should have been employed for past 6 months. You should be above 18 years of age. A bank account again is required and should have been operational for past 6 months. The above condition is mandatory for a 90 days Loan as the money is directly credited to your account. There are many advantages of this facility. It is a free online application process available 24/7. So you do not have to worry about any bank holidays.�
Its instant cash once the application is approved. Gives you ample opportunity to compare among the online lenders giving you a wider market to explore. This also means you get the best deal in terms of interest charged. A bad credit history in the past does not mean the end of the world for you.
So you may have been a defaulter earlier still you can apply. Gives you more time to repay. These monetary aids are totally unsecured that means you do not have to offer any collateral to avail the services. So neither your precious heirlooms nor your home is at stake here. This guarantees a total peace of mind in case of defaults. This also has another side, you pay extra to avail this service but still if you compare it with conventional lending terms of the bankers then this is a better option.�
There is no paperwork involved in the whole process so there is a no hassle you also need not meet anyone for the same. The money received can be used for any personal use like going n a holiday or to pay your kids fees.
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