Payday is a good day, when it comes. But when you need cash before (or after) your pay period, that's when things get a little hairy. A tough decision must be made (by you). Do you or don't you secure a high interest loan til payday?
All of us, at one point in our lives, have experienced a situation where we had to make this type of difficult choice. To have or to have, not? That is certainly the question. It's ultimately up to you, but you should consider a few things before you take the plunge.
First, do you have a stable source of income? If so, that's good. If not, you probably don't qualify for a paycheck loan anyway. Got a good job? Next question: How badly do you need to raise cash now. The key word here is "need." Wanting something is one thing, but actually "needing" something elevates priorities to a much higher level.
If you decide on "need" then your next step is "where do you go to get the loan?" You have two options: offline or online.
Offline, in your own neighborhood, or online? Online is the choice for many, simply because you have a infinite number of options to choose from. Whereas offline, you may only have a few choices within driving distance and there are other factors to consider like weather, time of day, convenience, etc. Plus, what if you take the time, go to your local cash loan lender and he turns you down? wasted trip, right?
Consequently, if you get turned down for an one hour payday loan online you can simply go to another website and start the process over.
The process is simple. You may already be familiar with it. Simply search for a payday lender's site that you like and fill out your pertinent information on the application, enter the amount of cash you'd like to borrow without extending yourself, and press submit.
Then you wait.
Less than 2 minutes later you will get a response, either approving you (in which case you will get more instructions) or denying you at this time. If you're approved, within 24 hours the money will be credited to your bank account. When the due date comes, which usually happens on your payday between 1-4 weeks later, the cash loan will be automatically debited on your bank account. For this purpose, many lenders (but not all) require direct deposit. Bad credit? Not a problem. NOTE: As long as you have a job with some longevity and a bank account you "should" be approved.
It's a simple, clean process for, both, you and the lender. Plus, when you get a an instant payday loan from an online lender you're building a business relationship that you can go back to over and over, for as long as you might need to borrow money.
Now, back to the original question. Is a loan til payday a good idea or bad idea? Only you can answer that.