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. 

Be The First To Answer

Other people asked questions on various topics, and are still waiting for answer. Would be great if you can take a sec and answer them

Ask a Question... We'll forward it to people who know

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 ...

What is the typical APR on paypal loans?

The typical APR of payday loans is around 1300 to 1500%. This means that if you take a loan of 100 pounds you have to repay back 125 pounds (100 pounds loan amount + 25 pounds as interest or charges)

Who pays for what appear to be beneficial loan terms for military

To assuage the vital pecuniary chomps of existing or ex military officials the loan conceding association would oblige definite proofs and information.

Payday loan fees: tax deductible?

Get same day payday loans in a few minutes of submission of an application. You will get in a hassle free manner and requires no paper documentation, and no emailing is necessary. http://getcashpaydayloansonline.com/same-day-payday-loans.html