I manage a payday loan office in mississippi. I am floored buy what truthsales is saying. because a payday loan office that did that committed a crime. They cannot charge you $90 weekly. It is illegal.

If you need a payday loan, there is a right way to do it.
First of all- STAY AWAY FROM ONLINE LENDERS. They are supposed to be monitored by the have horrible practices. They will draft money out of your account without your knowledge until it is too late.

Find a brick and mortar office. You can go online to get reviews for about any of them.

you will have to bring in your bank statement, proof of income, proof of residence, 2 ID's. for most, you have to have been at your job at least 4-6 months and your account must be at least 6 months old.

You will fill out the information sheet and be put into their system.

for most offices, you will be able to borrow between $50-$325. Only borrow exactly what you need and never take out more than one.
The fees are approx $21.95 per hundred. In some states it is smaller and some larger but they are all regulated.

The best way to beat the trap of payday loans is either to pay it out completely (which many people have trouble doing) or bringing it down everytime until it is paid in full.

So it you borrow $200 you would pay back $243.90 and turn around and redo the check for $150 and everytime you go in to pay it out bring it down until you get down to $50 and can pay it out with out it hurting.

I do what I can for my clients. I always try to get them to bring it down. (if my boss knew that he would be mad but I do it anyway)

It is true that payday loans can get you into trouble, but that happens when you have more than one out. Using a payday loan is easy just take my advice and be smart about it and only take out 1.

. I have been doing this for a long time now so If you have any specific questions, please feel free to ask, I will help where I can.
Source(s):
Occupation-Payday loan Manager


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