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SpecialKay118 · May 24, 2014, 08:46 AM

So I'm in a really tight spot right now. Normally I would never in a million years consider doing this but I'm swallowing my pride. My hours have been cut and I'm not making nearly enough money to make ends meet.

I looked into money today and they said they would loan me the $1000 I need, I would get it by the next day. But the websites I've checked said they expect you to pay it back within 2-4 weeks of getting the loan. I can't do that! Do I have more time? Or am I screwed?

Wondergirl · May 24, 2014, 09:02 AM

And what would be the (increasing large) interest rates? Is there any other way to come up with the money you need -- borrow from a friend or relative?

SpecialKay118 · May 24, 2014, 09:04 AM

My mom just gave me $400 I don't want to have to ask for more. I know she doesn't mind helping me but it's a lot of money. And I feel terrible. I've been looking for more jobs I mean I have two interviews next week. One job for the day and one at night and I'm willing to take both but that doesn't help right now.

odinn7 · May 24, 2014, 09:07 AM

I just went to their website and it says so right there, under the FAQs section. They say typically a few weeks to a month at most. They also do not list an interest rate...they say all this will be revealed once you are approved...so think about this: If you're not making enough money right now, will getting a loan like this really help you or just make it worse? To me, it would make it worse...having to come up with $1000 PLUS whatever interest AND fees they are going to charge you...you will never be able to pay it back.

talaniman · May 24, 2014, 09:25 AM

If you refer to pay day loans, then you dig yourself a deep hole,and nickel and diming friends for small amounts doesn't help, and puts you in a bigger hole. Sit down and make a realistic assessment of your finances and come up with a longer term more comprehensive evaluation of your needs and decide what you can realistically pay back in a timely orderly fashion. Then you can have a better discussion with your mom, and any others you approach, like a bank or financial institution.

If you are swallowing your pride with short term quick fixes to get by for a short time, then swallow your pride and have a more effective longer term solution and having mom loan you something more effective and farther reaching is a better plan, even her co signing at a better institution is a better option. The key here is to be very thoughtful on the amount you can pay back because stuff happens to all of us, and plans can be disrupted.

Was the 400 bucks a loan?

smoothy · May 24, 2014, 09:33 AM

I agree, if you don't have the money NOW... exactly how do you think you are going to make it in another 2-4 weeks... you need money to live during that time too... so you won't have excess then either.\

As has been mentioned... if you income drops... you HAVE to reduce your spending to match that... and that means giving things up and making sacrifices. If you don't or won't you never digf yourself out of debt.

YOu might have to cancel the Cable TV... give up the expensive cell phone data plan. You can do a pay as you go for only $25 a month, I see people Spending $300 a month which is wasteful. Give up eating out... pack your lunch. Don't buy anything you don't absolutely HAVE to have... there is a huge difference between wanting something and NEEDING something.

Most people living on the edge have trouble knowing one from the other.

Yes I've been there... yes I'm speaking from personal experience. One thing I always knew better than do was go to what is nothing more than legal loan sharking.