Payday Loan

I recently came upon a situation that required me to take out a payday loan, and though it's not something you want to have happen to you, I must say that the experience went well.

I never expected to arrive in a situation like that, I've always been debt free for the most part, and maintained a decent amount of emergency funds, just in case something like this popped up. Sure enough though, shortly after coming back from a vacation in Japan that sapped my savings account, I had a crisis hit that I wasn't prepared for financially.

When I arrived at this situation there were a few options open to me. The first and seemingly most convenient one would be to borrow money from my friends or family. They certainly wouldn't charge me any interest, so I'd have no worries on that front. But upon further thought I wasn't sure it was such a good idea. For a small amount sure, but for the amount I needed, I wasn't sure I wanted to put them in that situation. Money's tight all around, and I couldn't expect my friends or family to be able to freely part with that kind of money. There was also that small amount of embarrassment that crept up. We all have our pride, and having to borrow money from someone is definitely a humbling experience.

Another option was to sell something to get the money, either permanently or through a shop where I could later buy it back. There wasn't really anything I was willing to part with permanently, so that was pretty much out of the equation, and even having to part with my stereo or T.V for a month would be rough, and I'd still owe back a fee on par with what I would pay through a payday loan company, so this option just didn't seem to make sense.

That of course left me with going after a payday loan. I had a fairly good idea of how the process worked, and though I had heard that it was altogether convenient, I personally wasn't so sure. I feared I'd get turned down or that the process would take so long as to render it useless.

I contacted a few companies, but in the city where I live and online, and decided to go through an online company that I researched, and which seemed to have great support and service from the testimonials I read on a third party forum. I filled out the application, and it went without a hitch. Within a couple hours I had the money I so desperately needed in my bank account.

I had worked it out with the company so that I could pay back the loan over my next two pay checks, and without any problems they took half of what I owed on the loan over the next two pay checks. I was very pleased to have the ordeal done with, but even better is the assurance I now have that if something goes awry down the line, I'll have a payday loan available to help me out.