{"id":452,"date":"2015-11-22T00:00:00","date_gmt":"2015-11-22T00:00:00","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/dos-and-donts-of-payday-loans-real-advice\/"},"modified":"2018-02-19T08:30:09","modified_gmt":"2018-02-19T08:30:09","slug":"dos-and-donts-of-payday-loans-real-advice","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/dos-and-donts-of-payday-loans-real-advice\/","title":{"rendered":"Dos and Don&#8217;ts of Payday Loans: Real Advice"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><span size=\"2\" style=\"font-size: small;\">Who knows when a financial emergency will come around? The answer is no one. The saying, \u201cit never rains but it pours\u201d, rains true to finances and personal income because no matter how much you earn per month, there is always a time when you find yourself coming up short before your next pay packet. Some months you&#8217;ll find that a quarterly bill coupled with your usual monthly payments might hit you hard, and it&#8217;s usually on these months that your car will pack up or your washing machine breaks down. This is where cash-flow comes to a halt and where payday <a class=\"wl-entity-page-link\" title=\"lenders\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/loan\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/loan;http:\/\/rdf.freebase.com\/ns\/m.01dnzs;http:\/\/dbpedia.org\/resource\/Loan\" >loans<\/a> can help bridge an annoying financial gap.<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"><br \/>\n<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"> Before diving into applying for an instant payday loan, there are some dos and don&#8217;ts that you should be aware of. Let&#8217;s start with what not to do:<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"><br \/>\n<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"> Don&#8217;t think that short-term payday loans are a source of income that you should rely on every month. Only <a class=\"wl-entity-page-link\" title=\"Use (law)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/use-law\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/use_law;http:\/\/rdf.freebase.com\/ns\/m.05r4j5;http:\/\/dbpedia.org\/resource\/Use_(law)\" >use<\/a> short-term credit loans when all of your other avenues of income or sources of income have been exhausted. The charges accrued from the loans need to be thought of and over a year these can mount up if you use a loan company regularly.<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"><br \/>\n<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\">Do remember that a huge percentage of pay day loan users can enter into a debt cycle . One company <a title=\"\" href=\"http:\/\/activerain.com\/blogsview\/3782323\/eastside-lenders-talk-about-the-darker-world-of-pay-day-loans-and-how-to-stay-light\" target=\"\">Eastside lenders <\/a>quote that 49% of users need a pay day loan to repay a payday loan.<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"><br \/>\n<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"> Don&#8217;t forget to repay your loan. Although with Direct Deposit, which some companies require, they can legally take the loan amount out of your bank even if there is no money in it. This would cause overdraft fees that are much higher than the loan APR fees, and would cause you to be in more debt than before and the loan company might not lend to you again.<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"><br \/>\n<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"> Don&#8217;t use payday loans for anything other than financial emergencies. If you want a new mobile phone or the latest in fashion, then wait and save up.<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"><br \/>\n<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"> It&#8217;s important to be a reliable borrower and understand that if you <a class=\"wl-entity-page-link\" title=\"rental\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/renting\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/renting;http:\/\/rdf.freebase.com\/ns\/m.01y857;http:\/\/dbpedia.org\/resource\/Renting\" >let<\/a> the debt roll over to the next month, the charges can really mount up quickly which would be more difficult to repay than before. Onto the dos of payday loans:<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"><br \/>\n<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"> Compare the best APRs and loan companies that are available. This will let you see the exact amount of what you will pay back and if you were to not pay it back as quickly as you&#8217;d like, then the APR amount really starts to take it&#8217;s toll.<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"><br \/>\n<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"> Always repay your loan on the day that you&#8217;ve stipulated in your application. If your pay day lands on a weekend, make sure that you give your employer time to pay you and for the money to hit your account before allowing the payday loans company to take the money that is owed. The lender will see you as a good customer and if you were to ever need a payday loan in the future, they would be likely to let you borrow again without any more details being needed.<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"><br \/>\n<\/span><br \/>\n<span size=\"2\" style=\"font-size: small;\"> It&#8217;s not that difficult to borrow money responsibly from a payday loan company but there are pitfalls if you don&#8217;t stay on top of the repayment and let it slip into what can quickly become a nasty debt to deal with.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Who knows when a financial emergency will come around? The answer is no one. The saying, \u201cit never rains but it pours\u201d, rains true to finances and personal income because no matter how much you earn per month, there is<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/dos-and-donts-of-payday-loans-real-advice\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/dos_and_donts_of_payday_loans__real_advice","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/452"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=452"}],"version-history":[{"count":2,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/452\/revisions"}],"predecessor-version":[{"id":14858,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/452\/revisions\/14858"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=452"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}