Payday loans ottawa - Portsmouth

I must confess, I had never taken a payday loan… much less, even been in a payday loan store. And, I felt that I needed to go through the process to gain a better understanding of the experience.
So, on my walk home the other night, I decided to do some investigative research and apply for a payday loan.,Before going into the store, I did some research. To apply for a payday loan you need the following:,I waited in line for a few minutes.

Looking around, most of the other clientele were professional working individuals who were either cashing a paycheck or carrying the same paperwork I was to get their loan. Because it was Wednesday, I assumed that many of the others in line were looking for a little extra cash before a Friday paycheck.,Once complete, she asked how much I wanted to borrow and when I wanted to pay it back. When I told her I just wanted to borrow $50.00, she seemed annoyed that it was such a small amount and told me that I could borrow up to $255.00.

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I told her I was fine with $50.00 and would repay the loan the following week. I wrote out a check for $58.82 and passed it to her.
She counted out $50.00, and I was off.,There was no discussion about the potential risks, the cost of borrowing or what would happen if I missed the loan payment. It was just a simple transaction that could have a domino effect on the state of my personal finances.,If a potential, payday loan customer took the same $45.00 fee for borrowing the $255.00 (the maximum allowed in California) for two weeks and put that into an emergency savings account instead, they would have the same amount in an emergency savings fund in three months.

But if they do not pay off the loan, and pay another $45.00 to roll it over for another two weeks, this just digs them into a deeper and deeper financial hole.,Are you ready to help your employees get out of this payday loan Black Hole and start them on the path to financial wellness?

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