Question by Lylya: At how many pay day loan institutions can i borrow money at the same time?
Best answer:
Answer by evelyn m
I think that they only want you to have one, but don’t disclose the other accounts that you have to the new lender. It may jeopardize your loan
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usually one but they do not report to other companies.
I would be extremely careful. the interest rates are incredibly high and you can get into some serious debt using this avenue to pay off some current obligations.
That’s probably a dangerous thing to get into, as you could end up swamped with interest adding to your debt till it gets unpayable.
Stay away from these blood sucking vampires all together. They are nothing more than legalized loan sharks. Arkansas just passed a law banning their operation in their state because they are so consumer unfriendly. Other states have bans on them as well. Personally, I wish all states would ban them. Do you really want to pay 400% interest to someone. That is what a lot of these guys charge when you do the math. If you are late, they charge 800 – 1000%. Do absolutely everything you can to get these scumbags out of your life. They are a disease on the economy. They are a cancer that eats away at people. Period. If anyone tells you different, they are lying to you. Stay away at all cost. They will eat you alive.
One. However, this is such a costly and dangerous thing to do that if you start getting payday loans, you are going to be lucky to be able to afford a tent when you have to move to Hooverville. This is a slippery slope to financial devastation.
Find another way to pay your bills or you are going down the tubes.
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Bad debt choice.
Pay day loan centers are some of the worst places to borrow money from. Their interest rates can reach the 1000s of percents. I understand that it is not always easy to find lending options, but this one should definitely be your last resort.
Here is an article from yahoo about places to borrow money from, http://finance.yahoo.com/loans/article/104653/Borrowing-Options-That-Offer-a-Lifeline?mod=oneclick . One of the best options they give is social, or P2P lending. Here is the social lending site that I use, http://join.lendingclub.com/borrowing.php?src=67555®_referrer=samoan3d . It is free to sign up and get a rate quote, so you don’t have to worry about a catch. If you sign up, let me know your username and I will try to help fund your loan.
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