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14 Day Payday Loans Review — 20 Comments

  1. Wow!  I didn’t know that it amounted to that much.  What a rip off!  This is almost like legal loan sharks.  I never had to borrow from these guys so I did not know how much interest they charge  The best thing about this very well written article is the fact that even a credit card is a better solution than these kinds of loans.  Hopefully, your article will get people to think twice before borrowing from them!

    • Hi Denis,
      Yes, they are incredibly expensive!. Why anyone would do this, or get into a situation where they think this will work is tragic indeed. I would think that if they had a credit card, they would not be as desperate as to need the loan. I hope the article helps to make peopl more aware. Thanks for the comment, Denis.

  2. Thanks so much for this educative review. It will go a long way to enlighten so many people who are unaware of the exact way these 14-day Payday Loans actually operate. Many people fall victims because they feel insecure asking friends for loans (best loans so far), followed by the Government loans.

    I expect nothing good from the Payday loan guys as they are businesses set out to make profit, and they won’t stop at anything to maximise their profits, even at the detriment of others.

    • HI Muhiyb,
      You are welcome. You are correct, most people do not know how awful these loans are. Sometimes family and friends can’t help, and sadly they fall victims to this tragedy. It is true, they have no soul. Thanks for leaving a comment.

  3. Very informative article! It was easy to understand minus some grammatical errors. I enjoyed how you gave solutions to help avoid and get out of debt due to these types of loans. Do you feel your suggestions can be applied towards debt by other loan or credit lender? I’m dealing with debt from personal loans and credit card debt 🙁

    • Hi Sherry,
      Thanks for the kind words, I am glad my article was useful. I will have to check my grammar! Anything anyone can do to avoid these loans is much better than getting a payday loan in the first place! They are nasty! I think getting a loan like this to pay another loan is insane! That is the worst thing you could possibly do! But, if someone was to do that, I would think the cash loan is the best bet. Thanks for leaving a comment.

  4. This very sad when people start paying so much money for very few dollars it unethical to say the least 14days payday loans is a scum but one regulated by either the state or federal government hence the blatant way of over charged loans.unless people learn to manage their finances or find away of earning extra income apart from main source 14 days payday will remain to a menace in their lives and the shall never get out vicious cycle of borrowing.

    • Hi Charles,
      It is sad that people do this, but as you say even worse when the government gives them it’s blessing! Some people use these on a regular basis and just spiral deeper into debt. Thanks for leaving a comment,Charles.

  5. Thank you for taking your time to write about this 14 Day Payday Loan. When it comes to credit it is very tricky, we can benefit from it if we use it the right way or it can turn out into a disaster. I think not everyone has the financial literacy. It is something that you have to learn through time and not everyone is good at it. I used to listen to this guy called Dave Ramsey, and he inspired me to get rid of all my cc debts. Will share your post to all my friends who still have cc debts.

    • Hi Nuttanee,
      You are welcome, and thank you for your kind words. This loan is a disaster! Yes, people should be more educated about finances for sure! I think it should be taught in school. Thank you for sharing my post and leaving a comment, Nuttanee.

  6. 14 day payday loan? never heard of that. It does not sound good. This is like setting a trap you know fully well that someone will fall into. How do I start one for 30day payday loan without change in interest rate? It is also risked for the lender because since the person does not have to have good credit and not much documents, if the person decided not to pay, it could be hard to recover the money. Thanks for sharing very informative and eye opener.

    • Hi GinaO,
      They are traps, similar to pawn shops but much worse. If you look at the chart in the article, they have a set interest fee for thirty days at $375 for borrowing $1500. You can see it is almost a quarter of the amount you borrowed. But it gets much more nasty if you don’t pay in thirty days! Most of these people do not have good credit! But, what happens is most don’t pay when they become due, and then they need another loan for much more money, to pay the fees and late costs added. I am sure they have to put up substantial collateral before they get the loan.Thanks for stopping by and taking the time to leave a comment.

  7. Payday loaners are thought of as the scavengers of the saving money industry. Numerous individuals trust that these organizations simply exploit low salary families and hurt them more than they support them but you can’t blame the borrowers because even family and friends will not offer help to you, most people are very self-centered this days.

    • Hi Favour,
      yes, they are the lowest of the low. This business is so lucrative with the money they charge, most turn a blind eye on the suffering they cause. Families today are in a hard spot, everything is taking every dime working families have. Thanks for leaving a comment.

  8. This reminds me of my recent experience with borrowing money. I borrowed for a different reason, which is for business use, but the scheme was the same. Since it was a short term loan, the fees were enormous. From processing fees to monthly interest, you can’t help but nauseate. I was only able to kick the problem out when I started an online business that brings in profits, so with your #1 recommendation, I think people are in for a better route. 

    For the loan sharks, I don’t think the Heavens will approve your schemes. Yes, sometimes they can get away with their bad practices, but sooner or later, those practices will boomerang to them. It’s immoral and a form of oppression, exploiting the needy.

    • Hi Gomer,
      I hope that I never have to borrow from these crooks in my life!I hope you paid them back in plenty of time to avoid the nasty late fees. Yes, people would do much better with my #1 recommendation, than to ever borrow from these guys! I hope they answer to GOD on the final day. Thanks for leaving a comment, Gomer!

  9. Hi Admin! This is a rip off. However people don’t have choice when they urgently need cash. I cant imagine paying an interest between $15 to $30 for each $100 borrowed for only 14 days. You are definitely right by suggesting that people should borrow from friends or relatives, that alone is a better option than having to deal with unrealistic payment of interest. The consequences of not paying the loan as at when due is even more embarrassing.Thanks for your review on Payday loan, anybody that finished reading this article will know exactly the consequences of getting involved with Payday loans.

    • Hi Gracen,
      Yes it absolutely is! It is a total trap! Everybody must stay away and never, never get a payday loan! But it is fantastic business for all loan companies, because consolidation loans for bad payday loans is big business! Thanks for leaving a comment!

  10. Thanks for sharing this informative and educative article. In my own view fast loan like this will end up causing people financial hardship because the interest will be unbearable(too much) and I think limited time will be given to the lendee to refund the money . I really won’t advice anyone to go into this.

    • Hi Lok,
      I am glad you liked the article. These loans are legit, but should be outlawed.What happens most of the time is people can’t pay on time. So, the lenders make big money off the people who can least afford this scheme. Then they get trapped and when they can pay, they need a bigger loan to pay-off the enormous debt. Thanks for leaving a comment.

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