You've worked hard all your life to live within your means and then suddenly, without warning, you find yourself in a difficult financial situation and you need a helping hand. So you decide to apply for a cash advance loan. You figure it's quick, easy and you'll just do it one time. Unfortunately, things don't always work out quite like we plan.
If you think you're on the fast downhill slide to payday loan disaster and you may be in need of payday loan help, here are the five warning signs you should look for.
You Keep Going Back for More
One of the most devastating parts of payday loans is that they can be a never-ending cycle for many people. In fact, according to a recent article "Payday lending is a $40 billion industry made up of roughly 23,000 lenders, such as Check 'n Go, Advance America, and Cash America, where a typical borrower takes out between eight and 10 loans each year." (The District Chronicles, "Payday Loan Companies Face Legislative Caps," July 2009)
That's an awful lot of very expensive loans considering that in many states there is no cap on the amount of interest that payday lenders can charge. Talk about needing payday loan help! This is a sure sign.
You Can't Meet Other Financial Obligations
If you need immediate, one-time assistance to get you through a tough patch and the only alternative you have available to you is to get a cashadvance loan, it might be the right move for you. However, don't let it become habitual and interfere with your other financial obligations.
You know you need help when you find yourself making partial payments or none at all on other financial obligations just to try and meet your paycheck advance commitment.
You Can't Get Out from Under
The reason most people cannot get out from under their debt is because they cannot get their arms wrapped around their financial obligations. They don't have a budget or a plan, so they aren't sure of how much money is coming in and how much is going out.
One of the benefits of getting payday loan help is that the experts can provide you with guidance and expert advice on how to get yourself out from under a mountain of debt.
The Stress is Interfering with Your Life
When the stress of not being able to meet your financial obligations throws you into a downward cycle of habitual PDL financing, you are in need of help.
Everyone knows the harsh impact that too much stress can bring into their life. Stress not only manifests itself in physical ailments such as body aches and pains, sleeplessness, and major illnesses such as heart attacks and strokes, but it can impact your mental well being through ailments such as anxiety and depression.
If you are feeling stressed due to your loan obligations, now is the time to stop payday loan insanity.
You're Making Excuses about Your Behavior
One of the first signs that someone is an addict is when they can't admit to themselves or others that their behavior is out of control. If even your closest friends and family members are not aware of your financial situation or that you are using payday loans to get by, you are in definite need of payday loan help.
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