Payday loans are a necessity to cover emergencies when you do not want to pile more debt on your credit cards and not make the mistake of borrowing from family members. Suppose you need some money for a party and presents for your only child. You are a bit short until the next check. There would be no crime in taking out loans and pay the loans back promptly. The high interest rate would not really affect you because you will be paying the loan back when it is due and in a timely fashion.
Cars are complex and tend to break down on occasion. Instead of putting the repair bill on your credit card, you would be wise to get one of the guaranteed cash advances – to pay your mechanic. If you had no available car and were constantly late for work, you might be fired, especially in these hard economic times. Similarly if you have a utility bill that you forgot to set money aside for, short-term payday loans can meet this challenge.
If you have a bank account and a salary, loan can be obtained within a few hours. There should be no shame attached to getting this loan, we all run short of cash on occasion. Be disciplined and pay back your debd within 1 or 2 pay periods or whenever the loan is due. Try not to get an extension, for this tends to be expensive and defeats the purpose of the original loan.
The opponents of any credits attack them for having high interest rates. The credit card companies also have high rates and they are compounded over a long period of time. The problem is that the opponents do not want any competition so they attack the companies that offer payday loans. As long as you borrow a small amount of money for a very short period of time, there will be no problems. Most loans are made by responsible companies who make this known to the borrowers right from the beginning. Nothing is hidden and all questions by the borrowers are answered honestly by responsible companies that make payday loans.