Comments on: Are Payday Loans a Good Idea? https://www.goodwill.org/blog/career-and-financial-advice/are-payday-loans-a-good-idea/ Local Goodwills are nonprofits that help people overcome challenges to build skills, find jobs and grow their careers. #PowerOfWork Mon, 13 Aug 2012 19:55:36 +0000 hourly 1 By: kim https://www.goodwill.org/blog/career-and-financial-advice/are-payday-loans-a-good-idea/#comment-1039 Mon, 13 Aug 2012 19:55:36 +0000 https://www.goodwill.org/?p=20047#comment-1039 In reply to Dawn.

no no no it’s a neverending cycle that will swallow you whole if you’re not careful.just make sure you can pay them back.

]]> By: Dawn https://www.goodwill.org/blog/career-and-financial-advice/are-payday-loans-a-good-idea/#comment-1038 Fri, 10 Aug 2012 16:29:30 +0000 https://www.goodwill.org/?p=20047#comment-1038 First: I have gotten into the payday loan trap and had to bail out two of my kids who got into the trap. The problem we had with payday loans was trying to pay them back. We took them out because we could not pay bills then had another one to pay.

Second; After that experience I have taken out payday loans since then. I have used them when I knew I could pay them back totaly without hurting myself financially with the next one or two paychecks. I only use them now when there is an emergency. The last time was when a vehicle broke down between paydays and for a $200 loan I ended up paying back $260. I tried my local bank and was turned down first. They will hurt you financially if you are not very careful.

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