Getting A Loan? | Ramblings of an e-trader

Friday, 9 November 2007

Getting A Loan?

The other day, I was talking to my friend about loans and being in debt. I personally think that getting a loan from family and friends would be a better choice as these do not come with an interest.

However, my friend told me that she would rather apply for Payday Loans or take out a cash advance from her credit card. She said that to avoid all the talk within the family or friends, she would rather suffer from the high interest rates.

Well, it is fine if she thinks that she would be better of applying for payday loans. By the way, payday loans or payday cash advances are loans that help you bridge the financial gap between pay checks. I told my friend that if she ever has this need, then she could do herself a favor by comparing payday loans that are available from different lenders. They all come with different interest rates and terms.

One of the best places to start making this comparison would be at Payday Loan Quotes which has a website at http://www.paydayloanquotes.com. They even have an online calculator for you to do your Math. So use it and make sure you know what interest rate and APR you will be committing to.

Also, do understand that payday loans should be just short term loans to tide you through the tough days and should be repaid as soon as you receive your next paycheck.

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