Why would anyone take payday loans?

There are 3 reasons that someone would take a high interest payday loan:1)The person taking the loan does not understand the fees and interest associated with borrowing the money. As you know, it is expensive to take a high interest loan. Completely understanding the interest rate and importantly the associated fees for payday loans is very important.

Some people already feel bad about taking a payday loan and would rather ignore these fees, take the money, and run. These are the folks that the fees hit the highest.2)The person taking the loan has no other options or at least feels like there are no other options. Everyone has money problems from time to time.

Things can even get pretty bleak and people have done a lot worse things to solve financial problems than take a payday loan. Taking a costly loan can seem like the best option at the time if no other options are available.3)The person taking the loan does so on an impulse at a convenient retail location. Payday loan stores are located in kiosks, on main streets, in malls, colleges and almost everywhere you turn.

Convenience is a key motivating factor in consumer purchase decisions and payday loans are no different. If people need money and you put it in front of them, they are more likely to take it. CONCLUSIONSome of the things in our society don't seem right or fair, they appear to be created for no reason other than to take advantage of people.

While we may not necessarily empathize with products that are offered, there is always a quantifiable reason that customers demand a product. Gh interest payday loans may appear unnecessary, but they do fill a need in the minds of many consumers. Please see my sources below for a couple of interesting articles relating to this topic.

I hope that this was helpful!

Money is not a problem, but cash flow. Needing money now, can definitely cause stress.

A payday loan is affordable for every person as long as the repayment schedule is smooth and on time.

Urgent need of cash urge people to go for a Pay Day Loan, moreover the process to get this loan is quite instant and hassle free.

I think payday loan places exist to take advantage of people who are living somewhat beyond their means. I have a buddy who has frequently visited such places to get cash advances on his paychecks at ridiculously high interest rates. Often he'd end up spending much of his cash on not only bills but other stuff which arguably isn't essential.

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: cashswerve.com/index.php/paydayloans Has around 15 payday loans to choose from - I found the site pretty useful for payday loans.

Basically, payday loans enable salaried people to meet their sudden monthly expenses like medical bill,car repair bill. These loans can be taken very easily without much eligibility check and huge documentation.

It's usually to pay for another bill or a necessary expense (like a credit card, car loan, rent). Unfortunately, payday loans have such horrible fees and rates to it that this will really only buy you another month from that bill/loan and the interest on payday loan itself will sit on top of the already big debt. Some people use payday loans to make a big ticket purchase where they couldn't get financing or credit maxed out due to bad credit rating.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.