Pay Day Advances....Don't do it??

It seems that companies are sprouting up all over the country promising to help get you out of debt with quick, easy cash. All you have to do it write them a check and the money is yours. Seems simple enough.....However, as the voice of experience I say, DON'T DO IT!!! If you write a check for $300, you only get $255 back. That's a $45 dollar profit for the company, which is designed to keep you coming back for more. And it's 2 payments of $45, so if you get paid twice a month, that totals out to $90 dollars in their pocket. About 7 years ago, I was having serious money problems. I wasn't getting child support and I didn't know where to turn. I needed to pay some bills and there was no groceries in the fridge. I was tired of asking my parents to help me so I went to Check-N-Go. After I passed their qualifications (paycheck stub, electric bill receipt, and the names and numbers of 3 people who knew me), I was on my way. It eased my mind at the time but I knew I had to go back on my next pay day to re-write them another check or pay them off. One day at a time, I thought. I didn't have the cash, so I did it again, and again, and again...I wound up getting deeper and deeper in debt so I turned to Check into Cash to help me pay for the other guys. In the end, I ended up owing to 3 different companies. That was $249 dollars a month...and I did it for 5 years. They are not set up to help you, they are set up so that you have to keep coming back for more. As a single mother, an additional $249 a month in loan shark charges was putting me behind in my bills. It was an ex boyfriend that finally helped me to get out from under it. If he hadn't helped me, Id still be paying to this day. Its a viscous cycle and you are embarrassed to even tell people about it. When you go in there every two weeks, month after month, you see the same people...they cant get out either. I know it may seem like a blessing, it's not....borrow money from a family member, don't give those people anything. They dont want to help you, they are only there to make money.




They made a fortune off of me!!