Shopping on borrowed money is okay according to Victoria Consumer Credit Counselor Jack Kashouty, as long as the shopper chooses the right means to do so.
Credit cards he says are not a bad thing, but the buyer swiping the plastic needs to be aware of interest rates and most importantly, set a budget for holiday spending.
"Usually with credit cards, when you want to buy something, we figure about roughly 1 1/2%of your gross annual income. So if you're making 30-thousand dollars, 1 1/2% is roughly $450, that's what you should budget for christmas." Consumer Credit Counselor Jack Kashouty said.
If a credit card is your means for purchasing holiday gifts, he has a piece of advice that could help save you from losing track of your debt.
"Just use one credit card instead of four or five where you have four or five different interest rates. This way you only have one interest rate to contend with." Kashouty said.
There is another avenue those in a financial crunch sometime turn to, pay day loans or cash advance loans.
Source:
You may fill this form to ask for payday loan
Can I borrow from a Cash Loan if I already owe two other Cash Loans?
Dec 03, 2008 by LoverOfChrist | Posted in Personal Finance
I have 2 cash loans that I have borrowed from, and I haven't paid them back yet. What I want to do is borrow from another Cash Loan without having to pay for the other two. Am I Qualified to do that?
You are qualified to get yourself into a whole lot of trouble.
What makes you think that you can get out of paying the first
two cash loans? How fast can you run?
These people don't play nice... and they never give up.
Reena | Dec 03, 2008
Don't even think about it. You are getting yourself into so much trouble you'll never get out. You cannot imagine how much worse your financial situation can get or how fast it can get there.
ibu guru | Dec 03, 2008
Where can i get a payday cash loan quick?
Jan 20, 2007 by babygyrl_sherry | Posted in Personal Finance
I need a cash loan deposited into my savings account quickly, but i need low fees for repayment, and i get payed monthly, so i also need at least 4 weeks before paying them back.
Talk to family and friends or employer to help you bail out of your situation before you even think about a payday loan. You would not believe the interest rates and terms of those places. You're better off with a cash advance on a credit card which is an insane option. Don't set yourself up for more problems than you have right now.
INACTIVE | Jan 20, 2007
Amscot is easy with the loans. However, the first loan is only $150.00 and you have to pay it back in two weeks.
Depending on how much you earn, banks might be able to offer you something.
Other than that - there's really nothing - otherwise, I would be debt free right now.
~Z~ | Jan 20, 2007
Those payday loan places are worse than the mob,they are legalized loansharks,find the money somewhere else.
Johnny Walker | Jan 20, 2007
This site wil give you most useful information about loan visit http://www.freewebs.com/getyourloan
smily | Jan 20, 2007
you can find what you are looking for right here http://www.wesayes.com
bali | Jan 20, 2007
I have been on the web looking for a small cash loan, any one know a reputable one?
Jan 10, 2009 by blondie | Posted in Credit
Have bad credit and need a cash advance asap, don't want to do a payday loan, all kinds of offers are coming in, which ones should I look into? Anyone know of one that isn't out to screw me in the long run.
Go to where you bank and discuss a payday loan loan with them. In emergencies, sometimes the bank is more understanding than you might think they are.
Sometimes the Salvation Army will pull through as well,if you have one in your area.
Take time to look into your community for support, but some people don't have all the options that come with an understanding community. http://www.goodinternetdeals.com/Payday-Loan.html
Mikaela N | Jan 11, 2009
can i get a cash loan if ive been in the hospital and lost my job?
Jul 10, 2008 by Dillan T | Posted in Personal Finance
i got sick with pnemonia, spent a week in ICU in the hospital. Now i have no job, and no money. how can i get a cash loan? how much money can i get?
Before you borrow, take an inventory of your possesions, see if there is anything you don't really use that may have value, like old musical instruments, kitchen gadgets, furniture, electronics etc.
You can try and sell these things on Craigslist, eBay or have a yard sale. Then you will be cleaning clutter and not have debt that you can't pay back.
Greg S | Jul 10, 2008
I think you can but you would need some very valuable collateral
Oscar | Jul 10, 2008
There are different loan/cash advance places that do not ask for proof of income or job and will loan out up to $500. Try Quik Cash (if you have one in your area). But, please make sure you can abide by the loan agreement, I have seen too many people ruin their accounts by getting these loans and not thinking about how they were going to pay the money back in 2 weeks, which is what most people ask.
Get well and Good luck!
crystal_lipp | Jul 10, 2008
They usually ask you for your latest pay stub or proof of employment. The loan matures in 2 weeks or a month, but not more than a month.
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Can anyone recommend a safe and legitimate on line emergency cash loan site?
Jul 30, 2007 by Celia | Posted in Credit
I need to find a safe and legitimate fash cash loan site. I hear there are alot of scam sites just phishing for personal info. How can I find a safe one?
on line LOAN sites of any kind are not legitimate. i don't care if it is quick cash or mortgages etc.
you put yourself and your identity at risk by messing with these sites.
why would you give your personal info (social security number, bank numbers etc) to total strangers?
please do not risk your identity.
good luck :)
Blue October | Jul 30, 2007
In the UK - ZOPA
http://www.zopa.com/ZopaWeb/affiliate/?referral=duck1979
http://www.fool.co.uk/news/comment/2006/c060406d.htm
http://www.fool.co.uk/news/your-money/current-accounts/2006/10/24/better-than-banks-and-building-societies.aspx
In the US, a similar site @ http://www.prosper.com/
jduck1979 | Jul 30, 2007
Well, it's better to go to a payday loan store in person, but if you have to go on line - try out a store that actually exists in your area. I know in the area I live I have heard and seen commercials for payday lenders saying "go to our website and get your loan on line instantly!". Try looking up a few payday lenders in your area (you know, like Check into Cash, Payday Advance, Advance America, etc) and then calling them to see if they have a website where you can do your loan on line - that would probably be the most secure way to do it!
MMXMichael | Jul 30, 2007
Don't pay attention to the people on here who are trying to Scam you. Beware of Advance fee Loan scams.
my Advice: Don't deal with anyone from a foreign country and never use wire transfer services.. you risk losing your $$ and your mind.
www.fraud.org
Mr. Blue | Jul 30, 2007
I want to get a cash loan, is this possible?
Sep 01, 2007 by Clinton/Obama 08' | Posted in Personal Finance
I have Bank of America, and I want to get a $7000 loan to buy a car.
This is to pay the cash up front to the person I am buying it from. I currently have a credit score of 820, is it possible for the bank to loan you cash?
Yes, as long as your credit limit is not exceeded. Just use one of those checks they send with your Bank of America statement, make it out for $7,000, and deposit it into your account.
Suzy | Sep 01, 2007
It is possible, but inadvisable!
Money borrowed from the bank as a "cash loan" usually costs several percentage points MORE than money borrowed as an "auto loan" secured against the car you are buying.
Why would you want to pay more than you need to?
Thin Kaboudit | Sep 01, 2007
With a credit score of 820, you should be able to get the loan. Check with a couple banks to see who will give you the best deal. Tell then it's for a car purchase. They'll probably make the check out to the seller.
Judy | Sep 01, 2007
Do you have any information on those online cash loan services?
May 24, 2007 by matteo's mommy | Posted in Personal Finance
Have you ever applied for one of those online cash loans? You know..the ones that say that they will deposit the money into your checking account by the next day? I'm looking for someone who actually has done this. I'd like some feed back both positive and negative.
First, SERIOUSLY consider all your other options. Even the best pay day loan sites are hella expensive.
www.paydayone.com is a service that I've used. They have the cheapest intrest rates that I could find. $1 per $100 borrowed per day. So for a 2 week, $500 loan, you pay them an extra $70. This is certainly cheaper than a place like Advance America or Check into Cash.
With paydayone, I think they start you out with a maximum $300 loan. You have to have a bank account, but they don't require you to fax in any paperwork, like bank statements.
Apply for your loan in the morning, and the money should be in your account by the next business day. They automatically withdraw the money from your account on your due date, so make sure you'll have the money in there on that day!
Good luck!
cherripepe | May 24, 2007
are there any lenders who will loan cash to rehab a property?
Jan 05, 2008 by devildogof2006 | Posted in Renting & Real Estate
I have good credit and a steady income with low debts. I have seen various properties in my area that need about 40k worth of work that are going for around 5k. Are there any lenders whom will loan me cash to fix on these types of properties to flip, or should i just buy one of these homes for cash and get a loan against the house? Or should I get a 203 loan?
You may be able to get a line of credit to be used for rehab and draw as needed.
I've seen it done many times. Even up to a million extra in that manner.
ed | Jan 05, 2008
I am trying to get a cash loan for $1000 to get christmas gifts for my girlDoes anybody know were can you get ?
Dec 03, 2008 by loveme | Posted in Personal Finance
a cash loan i am haveing a heardtime geting one.Thank you.
Banks are the only place I know of. I would just get credit cards. I did that w/ Target and was able to shop online instantly.
Shayne | Dec 03, 2008
What happens if a cash advance loan goes unpaid?
Apr 03, 2007 by pretty_girl_tc | Posted in Credit
I have a cash advance loan out and don't have the cash to pay it back. If the post dated check goes through I will be in major debt. I wanted to put a stop payment on my check. What action will the lenders take?
They will probably either send bill collectors after you, or they will pursue legal action.
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IT Examiner Late on Monday, eight state-owned Taiwanese banks agreed on a new T$3 billion ($87 million) loan to help ProMOS repay the debt, allowing the cash-strapped ProMOS Banks Extend New Loans RPT-UPDATE 2-Banks agree on T$3 bln loan for Taiwan's ProMOS Taiwan stocks close lower, ProMOS slumps after loan -
