As you said besides the APR which can be as much as 640% ( If that's not bad enough) is the problem is that you can get caught in a terrible cycle of taking these loans. You take lone for 10 to 15 days for 300 and you end up paying back most of that in interest. it is very easy to get your in a hole with these types of loans.

The better option is to budget your money, Cut back on stuff you don't need. Then work on your credit (if that's a problem) when you don't have a crises. Save up and open a secure credit card for $200.00 use and pay it. After about a year you can try for another card with a higher limit. Keep that card in case of emergency. But pay it off as soon as possible.

The only thing I can say good about these types of loans is that if you come up with an emergency they can work because they are quick. But pay it back on you next check, don't get caught up in them

Let's suppose you borrow $500 for an "emergency." You have to pay interest on that, probably around $50-$90 for 2 weeks (or the next day in some instances.) That is real cash that could have paid a bill or paid off debt. You still have to pay the bill or the debt, which reduces your available money. So now you have even less when you have to pay back the $550-$590. You can get trapped by paying off the loan and borrowing $500 again. The biggest "emergency" someone has is running out of money! You probably have income to qualify for a "payday" loan, so start now if you haven't already to pay yourself first. Just like a bill. Send a check to your savings account.
I decided to get rid of all my debt and am following a specific plan to make that happen. I plan on tracking my success at http://bluegolfusa.blogspot.com and you are welcome to check on how I'm doing and to find more free information on this subject including the plan.
BK

I don't think people should get hung up on the APR because it's not an annual loan and they are not making payments each month. Payday loans only have 1 payment and usually that amount is capped at around $15 per $100 borrowed, which means that the loan rate is only 15%. However, if you decide not to pay this loan back, and refinanced it over and over again for an entire year, than you would paid a high APR, but who in their right mind would do that. In fact, who would do that with any loan, auto, mortgage, or credit cards. Can you imagine what the APR would be on a credit card if you decided not to pay it for an entire year, it would be outrageous as well. For some reason critics of payday loans like to use this APR to scare people, when in fact the same formula could be used for any type of loan and show that it's unfair. If the fee is good, and the cash is needed, than the APR is a non-factor and should not be considered when looking at these types of loans. For more information on these loans and the APR involved, go to the source article.

There is nothing bad in taking payday loans to meet your monthly expenses as long as you repay them on time and as per the agreement.

Hi, As long as payday loans are used carefully there is no reason why they can't be used at all. OK the APR is higher than most other types of loan but you need to remember that the length of time the loan is taken out over. The APR, by law, has to be worked out on an annual basis so it can't really be used to shaow the true APR rate of a payday loan. This site:

 http://www.cashswerve.com/index.php/paydayloans

Has around 15 payday loans to choose from - I found the site pretty useful for payday loans