Contest Entries
The worst way to use a cash advance is to use it to pay for another cash advancement. I am old enough to know better, but I had gotten myself into a very big mess and was so ashamed to admit that i had gotten in way over my head. I thought I could eventually get myself back on my feet, but boy was I wrong.
I borrowed the money to keep my electric from getting shut off, then when it came time for the repayment, I did not have enough money to make ends meet, so I went and got other cash advance(BIG MISTAKE) to pay that one off, then everything that could go wrong---did.
my car broke down and it had to be fixed in order to go back and forth to work(did not want to lose my job), so I borrowed yet another loan for the other bills coming due and everyday living expenses.
Then I realized I was losing money I did not even have to repay the loans out.To make a long story short, I came clean with my mistake, I hurt people in the process, making myself feel inferior.
I am now getting the financial help I need to get myself out of this mess I have caused. It is hard and I learned a very valuable lesson----own up to my mistakes and learn from it.
I DID.
thank you
The worst possible way of use for a cash advance or Payday loans is to complete a payment for a pre-existing personal loan that that is late or overdue. Not only interests are high but also there are late fees added. This is like to put a bandit on a bleeding wound. As we know lender of personal loans charge hefty interests and will add also significant late fees charges, specially if this is something that happens frequently. At the end you will end up with a new and fresh debt, plus the existing one that you could not pay in the first place.
Jack was approved for a short term payday loan of five hundred dollars to pay his rent. The finance charges and loan amount received needed to be paid back in ten days. Since Jack didnt have the means to pay this loan back he applied for another payday loan from another company, he was approved for a loan of one thousand dollars which would become due in fourteen days. Jack paid The loan from the first company he owed and needed to figure out a way to pay back the second company, he decided to reapply for another loan with the first company in hopes that he can eventually pay off the second company. What Jack failed to realize is that if he didnt have the means to pay off one loan he should never have applied for another one.
I believe the worst way to have to use a payday loan is for an unexpected funeral expense. My parents are retired and my uncle (my day's brother) was the last remaining relative. He past away living on social security with no life insurance policy. Going to the funeral home with my parents and finding out the cost was unbelieveable. We didn't have enough money for all of the expenses so, I had to get a payday loan to help pay the remaining cost. This is good to use however, not under these circumstances.
I THINK THE WORST WAY TO USE A PAYDAY ADVANCE IS TO USE IT TO PAY OFF ANOTHER PAYDAY ADVANCE FROM ANOTHER COMPANY. YOUEND UP DIGGING A DEEPER HOLE. NOT GOOD!
