I have to admit something. I got a real shock today. You see, I just received my latest credit card statement. Today, for the first time in a long time I took a good hard look at it. Normally, I just look at the transactions, check them off and pay the damn thing. Today I read everything.
If things are looking grim for you, don’t stop trying to make your income work for you. Have you looked into using a layaway program? Think of layaway as the opposite of a fast payday loan advance without the interest. Instead of paying off a loan, you will paying towards a purchase. This is a great way to buy gifts over the holidays. The key to success is to start your shopping early so you have plenty of time to pay it off. You really have nothing to lose working your shopping list through a lay away program. Get the scoop on programs for the individual stores just in case their terms and conditions vary. Some may have limits as to how long you can pay towards your purchase while others may expect a percentage of the cost down at the time of holding the item.
Another option is to borrow money from someone you know, but then you run the risk of the deal going badly and miscommunication and then you end up losing a friend in the process. It is just awkward to borrow money from people you know.
OAvoid short term payday loan websites that assure you of instant approval based only on a few questions, or that they do not need documents such as latest bank statements or proof of employment. A real and reputable short term payday loan company would need information about your banking history and about your current employment.
These may seem rather spurious but they are the only things you have to land $10,000 in cash if you have bad credit. There are basically no other options available, but you can make it work.
guaranteed payday loans no matter what direct lender make their money off the interest they charge on your loan. Interest rates and loan fees are typically higher with payday loan because they are short-term. The lender makes money in a shortened period of time unlike a traditional loan that extends payments over several months or years. The longer it takes to pay off a short-term loan, the more the borrower will pay as a result of extending or “rolling over” their balance. Payday loans and cash advances are meant for people who need temporary financial help; for people who can pay back what they borrow with their next paycheck.
If you have a piece of property, some equity in your home, or a vehicle that you can put up for collateral, then you have the best chance of getting the loan that you need. $10,000 might be a little much for a vehicle, but if you have the right vehicle or vehicles, then a bank will lend you the money. You are best off to refinance your mortgage if you have enough equity, but property and vehicles work well as collateral as well.
Lastly, once you’ve paid down the payday loan debt, keep to the thrifty habits. Try to live on 90% of what you earn, and put the rest in an interest bearing account, so that compound interest works for you rather than against you.