cash advance
My mother has always warned me against taking a cash advance, but last month I was short for paying my rent and decided to give it a try. I know that taking a payday advance is a loan that is taken at a very high interest rate, but I really just felt that I didn't really have a choice. Sure, I could have called my mommy to send me a check advance and save myself some interest, but I am really trying to prove to her and to myself that I can make my own way in this world and if I can't take care of the little things myself then what good is it really. I mean I kind of wish that I hadn't taken this loan, because each payday now I have to go in and pay it off and then take it out all over again. I really can't afford this, but I have paid off about $50.00 of it so far and I do intend to pay it all off when my student loans come in. I just can't really believe how difficult it is to get out of this loan. I really thought I would just pay the whole thing back out of my next paycheck and it would be a done deal. But there are always more expenses and if I would have done it that way, I would have been left with no money for the next week, and I knew that wouldn't work. That is when I came up with the idea to pay it down a little at a time. This cuts down the interest a little more each time as well, so it seems like a better idea then keeping it the same week after week, plus I really don't feel the pinch paying it back $25.00 at a time. It is working, but it is a long process. Each week I go in there I watch and see the other people and how they are handling this. What I have noticed is that I am not the only one who pays it back and takes it out again. As a matter of fact that seems to be what the majority of people are doing, so much so that the staff just hands everyone the new paperwork once they pay off the old loan. I think I have only seen 2 people pay it off and not retake it. I guess this is the way these companies make their money.