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NO, they are not
What happens, is you usually have to give them access to debit your account every 2 weeks for the interest on the loan if you cannot pay it off. The stories I hear of people who either do not have that interest payment in their account, or their account being debited which screws up their ability to pay another bill, and then having a slew of overdraft charges are overwhelming.
Payday loans are the last resort. If you have something of value, pawn it for 4 mos. If you have to resort to a payday lender, choose one that at least has a store front that you can walk into and talk to a human being.
You never know who you are shipping your account numbers off to on the net!
What happens, is you usually have to give them access to debit your account every 2 weeks for the interest on the loan if you cannot pay it off. The stories I hear of people who either do not have that interest payment in their account, or their account being debited which screws up their ability to pay another bill, and then having a slew of overdraft charges are overwhelming.
Payday loans are the last resort. If you have something of value, pawn it for 4 mos. If you have to resort to a payday lender, choose one that at least has a store front that you can walk into and talk to a human being.
You never know who you are shipping your account numbers off to on the net!
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