Anyone ever take out a payday loan?

[Sad Bunny]

How do those work? Are they a bad idea? How soon do you get them?

My friend Kenny used to do them shyts all the time and I never understood them

 

[Malcolmxxx_23]

40 percent interest

 

[BlvdBrawler]

40 percent interest

That's one of the lower ones I've seen. Those shyts can go up to like 180% if I'm not mistaken.

 

[Sad Bunny]

40 percent interest

cot damn...this is for niccas who can't manage their money well

 

[unit321]

How do those work? Are they a bad idea? How soon do you get them?

My friend Kenny used to do them shyts all the time and I never understood them

Your friend Kenny is a moron. A total moron. He's giving money away.

They will cash your paycheck in the future and take a huge cut out. You get money earlier than the pay date. Yes, they are a bad idea. If your paycheck was net $100.00, you would get maybe $60.00. If you can wait, then you could cash it at a bank for $100.00. Why pay them $40.00? It's better off that you watch your expenses so you don't end up in a financial bind.

 

[Chris.B]

look to borrowing from friends or family because you pay that outrageous interest.....how is that sh!t even legal?

 

[Born2BKing]

I know some nikkas who be getting the titles to ol beat up cars with bad motors and taking out title loans. When they don't pay they just let them come get the car since that mufukka on bricks anyway.

 

[Sad Bunny]

Your friend Kenny is a moron. A total moron. He's giving money away.

They will cash your paycheck in the future and take a huge cut out. You get money earlier than the pay date. Yes, they are a bad idea. If your paycheck was net $100.00, you would get maybe $60.00. If you can wait, then you could cash it at a bank for $100.00. Why pay them $40.00? It's better off that you watch your expenses so you don't end up in a financial bind.

well, he's in jail now. and he was a terrible spender/saver. he used his paycheck for ciroq, weed and pills

 

[Sad Bunny]

That's one of the lower ones I've seen. Those shyts can go up to like 180% if I'm not mistaken.

so if a nicca needed $100 until payday, they'd tax a nicca that much

 

[beenz]

How do those work? Are they a bad idea? How soon do you get them?

My friend Kenny used to do them shyts all the time and I never understood them

man, you'd get better rates taking out a loan from a loan shark. and I'd rather take the risk of getting my legs broke, over paying the type of interest that these payday joints ask for.

 

[CaughtInTWebb]

Hell nah......interest rate to those are ridiculous......

 

[beenz]

I know some nikkas who be getting the titles to ol beat up cars with bad motors and taking out title loans. When they don't pay they just let them come get the car since that mufukka on bricks anyway.

that sounds like a lick. the title loan company doesn't even have to see the car before giving out a loan? that's dumb as hell.

 

[BlvdBrawler]

so if a nicca needed $100 until payday, they'd tax a nicca that much

 

[Sad Bunny]

man, you'd get better rates taking out a loan from a loan shark. and I'd rather take the risk of getting my legs broke, over paying the type of interest that these payday joints ask for.

So, if a nicca took out a $50 payday loan, what is he looking at paying back?

or $100?

I need examples...this is CRAZY to me.

Thanks gawd I got fam and friends for hard times

 

[beenz]

look to borrowing from friends or family because you pay that outrageous interest.....how is that sh!t even legal?

actually, it is illegal in a lot of states. and it should be illegal everywhere because it takes advantage and profits off of the poor and uninformed:

Payday loans in the United States - Wikipedia, the free encyclopedia