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A Message From HELL!

Many years ago, this one particular collection agency emailed me with threats like I had never seen before. I mean, these were not your normal, run of the mill threats…These threats were way over the top and one day I just got fed up and responded back with the vilest, most vulgar, and nastiest words known to mankind.

I wanted them to know that I didn't appreciate them contacting me with empty threats of having me arrested and hauled off to jail when they knew they could do no such thing and where just using scare tactics in an attempt to get me to pay off a past due payday loan that was several months to a year in my rear-view.

Within the hour I received an email reply from a man claiming to be the owner of the company who stated that he is running a family-owned business and has young children who read his business emails from time to time and would appreciate it if I did not use such vile language as he felt that it was very offensive to his kids.

To which, I responded that as long as he continues to send me empty threats, I will continue to reply back with language that demonstrates my displeasure in him contacting me. I made it perfectly clear that we can continue this email back and forth, or he could stop contacting me and I would gladly reciprocate by not responding. I never heard from him or his company again.

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Should you consider a payday loan?

A person should only consider taking out a payday loan if they are in dire straits and have no other options. I’ve probably taken out well over 500 payday loans since they have first become available and I am not proud of this fact, but sometimes desperate times call for desperate measures.

Payday loans are easy to get into but a nightmare to get out of. Breaking the cycle is very difficult because the average person who gets a payday loan usually takes out two to three more loans, perpetuating the proverbial robbing Peter to pay Paul syndrome.

At my very lowest, I had over 10 payday loans at the same time. It took me so long to pay them off and reborrow that it would take me two days to complete them all. At this point there are only a few ways out and paying them off was not an option for me. I ultimately ended up burning them all by closing my checking account and opening up a new one at a different bank. Again, not my proudest moment.

Today, I am happy to say that I have put traditional payday loans behind me. Just the sheer thought of the way I felt when I was knee-deep in them is usually enough to scare me back to reality in the event that it ever crosses my mind to seek out another payday loan.

You might also like: The Payday Loan Shuffle!

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The Dave Cash Advance App

I am a long way removed from the traditional payday loan system but I do from time to time use a mobile app called Dave that allows you to take out small cash advances of either $25, $50, or $75 until your next payday.

One reason why the Dave app is different from a standard payday loan is that you can borrow money without paying a single dime in interest. You pay back exactly what you borrow and not a penny more. They do offer the ability to leave a tip to show your gratitude but it is not required.

Dave is very simple to use. Once you have initially set up the account and connected your bank, you can generally have your money in your bank account in one to two business days without having to pay the optional fee for fast delivery.

In order to qualify for a cash advance, you only need to be 11 days or less from your next payday. The Dave app also has a checking account that you can opt into that will give you access to up to a $100 advance but at the time of this writing, it is not yet available.

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