Originated From
A1 Articles

What happens if you get a payday loan and ...

What happens if you get a payday loan and something happens, like your vehicle breaking down, and you are not able to pay the full amount when it comes due

Liked this question? Tell your friends about it

4 Answers

Order by
Oldest to Newest
Newest to Oldest

The interests and the principal will get accumulated and you'll end you paying more. The lender of a payday loan can file a civil suit. I used online payday loan form on https://www.paydayloan90.com/ and applied for it. Though the interest is high but I got it quick. Otherwise, you can call up a bank to offer you an auto loan.

In this case you have to payday some additional interest rate or compounded interest rate which is higher as what you are already paying.

So if you have taken a payday loans at least don't skip the installment and just try to payday it regularly


Well, the fees are rather high, therefore, if you are not able to repay the taken payday loan, you'd better try to negotiate with the creditors to extend the repayment period. It will help you to save some cash and you won't have problems with getting such cash advance loans next time.

Usually, the potential for a lot of consumers to get in trouble with those payday loans is exist because they misuse them and keep renewing, in such way becoming dependent on them. However when payday loans are use only as they are intended, like for financial monetary emergencies (the car breaks down, the unexpected bills appear, etc) they turn out to become an absolute life saver. Actually, I've needed to use them in the past. My car did break down and I didn't have any other appropriate solution how to get to work and I could not afford to miss any more days. So I feel the http://islandloans.co.uk/ can help me very much to keep my job. But I paid it off on time and didn't go back to get another one next week. 

Related Questions

Other people asked questions on similar topics, check out the answers they received:

Asked: If you get a payday loan and have to renew it ...

If you get a payday loan and have to renew it, paying the minimum required each time it comes due, will you pay back more than you borrowed in the first place in interest alone

Asked: Payday Loans a Good Idea?

Do you think payday loans are a good idea? I think they have their place, but only as an absolute emergency. Interest rates are sky-high and it's too easy to get into a borrowing cycle.

Asked: Does anyone know the 888 telephone number to call ...

there is an 888 telephone number to call that will assist in getting rid of payday your payday loan because they are invalid does anyone know that number? they called me once but I lost the number

More Questions

What are the safeguards for the lender that the borrower will repay the

Just an agreement and the possibility for a civil suit. That's why it's expensive as the interest rates are quite high. It is an unsecured loan which you can available on the basis of your pay. However, in dire need of money my payday loan was that best thing which be tide over a tight financial ...


Hard money loan is basically short-term loan.It's validity around few months or few years.Now hard money loan is so popular.Because it is easy to get, easy and flexible terms & condition,get loan in any time,no hidden charge etc. Before taking hard money loan,you should visit "www.lendinguniverse ...


You do not mention what type of loan? Ok. I am telling about hard money loan. If you have a bad credit,but you still want to start a business.Your first choice is hard money loan.It is so easy to get.You can lend hard money from "lending Universe Inc".Here you can meet with many verified hard money ...

How can I apply Cheque Book Payday Loans?

Top requirements include- High levels of stupidity Desperation Death wish