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No I haven't, but my sister used to be doing that, I wouldn't recommend it, the interest is usually sky high : /
 

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alien monk
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never have and wouldn't unless I was desperate.
 

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On Life Support
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Stay away from them. No questions. Seriously!
 

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If you are having trouble keeping up with bills etc... Its much better to talk to the company you owe or your landlord if its rent, maybe negotiate a payment plan.

It really depends what the money is for and whether you have exhausted all other options. Also if you can't pay it back you will be in even more debt so you are potentially creating a bigger problem for yourself later on.
 

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I'd avoid them if you can - the interest is very high and is difficult to pay off, which can then hurt your chances of getting other loans (e.g. mortgage, car).
 

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Hi NeonSun,

These payday loans (STAFF EDIT) destroyed my credit rating. I was late with repayment a few times. Now I can't even apply for a credit card.

So I'd advise against it personally. Think carefully about it at least.
 

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Wondering about the same. And what is the difference actually between payday loan and personal loan? If i need money for personal expenses immediately which one is that?
Payday loan is a very short-term loan with a higher rates. Personal loan can be longer and rates are less high. Payday you take only in case of emergency, if you really don't have anyone around to give you this amount for couple of days. I used it ones when I needed to buy some materials cause I had to start with production asap. I knew that I will have a decent transfer coming in a few days so there was no risk for me. Just think few times if it is really necessary to take loan and if the thing you need money for is that urgent.
 

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SASsy
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They charge skyhigh interest. Avoid at all costs.
 

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I had payday loans twice in my life. It was a difficult time when i just finished university and got my first job. The rates are much higher than on personal and other loans. If you can try to borrow many from the family or a friend it would be much better solution
 
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