Anyone that spends a few moments researching payday loans on the Internet will be knowing that there are a lot of negatives associated with the no credit check cash advances. However, it is the best to remember that the people behind these articles have an agenda themselves. They do not want you to get these types of bad credit payday cash advance loans, so they will do whatever they can to steer you clear of them. This includes skipping over some of the many benefits of the payday loans as well.
For starters, let's get this out of the way. Yes, bad credit payday cash advance loans charge ridiculously high interest rates. But here is a scenario in which they can be helpful as well, even with the high interest rates: Let us say you have an $80.00 electric bill due to be paid on the coming Tuesday, but you will not get your paycheck until Thursday, you can go borrow $80.00, even if it is attached with a 25% interest rate. This way, you can quickly pay off your electric bill, then return within the week that you borrowed the initial $80.00, pay off the now $100.00 bill and successfully avoid debt.
While this scenario happens before, there are also instances in which debt, even with the payday loan, is inevitable. But in this day and age, the name of the game isn't so much avoiding debt, but only minimizing your debt. Payday lenders want you to go in debt. So if you can avoid going into debt with the electric company (who will shut your power down if too many bills go unpaid) while keeping payday lenders happy by sending them the minimum balance each week, you will just barely make ends meet. Therefore, it is better to scrape by with a little debt than to file for a bankruptcy and start from scratch again. Don't you agree?
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