There are people that will tell you to stay away from payday loans because they charge a high rate of interest. Well, that may be true, but it is also true that these companies provide an important service for those that do not have access to other sources of credit. There are many situations when being able to get a $1,000 can save you from disaster. In some cases, it can even save your life.
Medical Emergencies
Imagine yourself in a situation where your child is in desperate need of medication to help her breath. You rush her to the doctor and he gives you a prescription with the medicine that will get her back to breathing normally. The prescription costs $120 and you are flat broke. In such an emergency, you will do whatever it takes to get the money for the potentially life-saving drugs. A payday loan can provide the money you need to get help for your beautiful daughter.
Paying the Rent
If you have been late on the rent before and find yourself back in the same situation, your landlord may say enough is enough and threaten to evict you. Unless you come up with the rent in the next 48 hours, you will be evicted and forced to find somewhere else to live. Your landlord does not want to hear any promises that you will pay him when you get your next paycheck, so, you go to a payday loan company and get an advance. You pay the landlord and he is happy. A few weeks later, you get paid and repay the loan to the lender.
Your Car Breaks Down
You need your car to go to work. There is nothing worse than your car breaking down and needing a costly repair that you just can not afford. Whether your radiator bursts or the engine blows up, if your car is disabled it affects every aspect of your life. Maybe you can take a bus or get someone to chauffer you around, but it is so much easier to get the car fixed and not have to rely on others. Getting a short term loan will allow you to fix your car and be able to get back and forth to work. As long as you have a job, you can earn money and pay back the loan.
A Death in the Family
Your favorite Aunt passes away suddenly and you need to buy two plane tickets from Chicago to Atlanta. The funeral is in two days and you do not get paid until next week. You do not want to miss the chance to say a final good by to your beloved Aunt so you go down to the Payday Loan office and get a short-term loan. The tickets are bought and you make it to the funeral. You did the right thing.
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