Contest Entries
The worst way to spend your Payday advance is to Gamble it away or to use it to Pay off another payday advance with another company. Either of the two are bad news and does not help your situation. Payday loans are just that. Loans to help you out in between paychecks, for instance, a utility bill needs to be paid, or perhaps those unexpected car repairs thats needs to get done asap. Don't abuse Payday Advances they are here to help you.
THE WORST USE FOR A PAYDAY LOAN WOULD BE TO PAY OFF ANOTHER PAYDAY LOAN...OR TO PAY DOWN ON ANOTHER LOAN. I KNOW PEOPLE THAT USE THEIR LOANS TO PAY OFF OTHER PAYDAY LOANS. THIS IS A TERRIBLE IDEA. THE MATH IS NOT IN YOUR FAVOR TO DO THIS!! PAYDAY LOANS ARE A CONVENIENCE AND SHOULD BE PAYED OFF QUICKLY.
The worst way to use a payday loan, is to pay off another payday loan. I was in a stiuation a few years ago, where this was the case. It quickly got me into major financial trouble with all the interest rates conflicting and the mixed payments. If I could share any advice, it would be to not rely on payday loans when you are that down and out. There is other kind of help for those messes. I am back on my feet now, and found a payday loan company, for helping with expenses I'd like to have, but not wait for. Like buying a new accessory for my car, or something new for my house. I know I am in the position to pay back a payday loan when I recieve one, and do not need to rely on a second or third loan to pay for the first. I only ask to recieve a loan when I know its safe for me to do so. I learned the hard way, and I hope no one else has to.
I believe the Worst way to use a cash advance would be to use it to pay off other cash advances. I myself took out a few loans in hopes that i could pay one another off. But things backfire so i received multiple overdrafts and NSF fees on my checking account. My advice would be to not get payday loans to pay off other payday loans..its bad news.
The worst way to spend your cash advance to me would be to pay an overdraft on your bank account, cause then you'd have to come up with more money to pay your cash advance which might mean taking out another cash advance with another company, or going to the pawn shop to pay your loan, you're all of a sudden in this vicious cycle of rob Peter to Pay Paul, and believe me I have been there more times than I wish to remember. Or you could blow it all gambling and then empty your bank account trying to recoup your losses and there you go again. The worst way I have had to use my cash advance was to pay an outragous deposit on my electric bill, I didn't even get to enjoy any of the money I borrowed, But I GOT LIGHTS BY GOD!.
