Have you ever used a short-term money loaning service?

[Absently]

Yeah, just wondering if anybody off of here has used one? If you have used one, why? What were the repayments like on it?? Would you get one again?

I am just curious because the ads are always on the TV and to me, they are just so bloody dodgy. I know that I would never, ever, get one as I know I would always have other option - but obviously not everyone has the same options! We also keep getting letter about it as well, directed to Jake, which is so annoying. Last time we got one I just ripped it straight to shreds and threw it in the bin.

[Kyle]

yes I have, they're not the devil.

[Cerys]

I love watching the adverts and laughing at how high the APR is. Some of them are ridiculous xD

But no, if I ever needed a loan i definitely would not get myself into that situation, I'd always go through the bank or family.

[Hannah]

I have never used one personally, but where I work we offer short-term loans. We charge 0.8% interest per day of having the loan. It's not too bad when looking at it, 'cause £100 for 28 days for example is only £122.40 and to be fair it's normally only the last 14 days of the month I've found people need them - so that's only half the interest.

If it were year-long though it'd be extortionate xD Like £292 interest on £100 xD

[Kardan]

I'd never get one.

[Samantha]

No I've never had one nor needed one. I would definitely not get one either! I'm like that :Cerys; I think they had to put a clamp down on how much interest one can charge now too :P.

[FlyingJesus]

Absolutely not I don't think I'd ever be in a situation where that's my best option, always got friends or family I could get a short term small loan from without paying back ridiculous amounts extra for the fun of it

[dbgtz]

Never had the need to and don't think I'd ever have to. My family is well enough of that if I was ever in need of a few quid, I could probably get a loan from them :)

[Inseriousity.]

I can see why people use them for a short-term fix for their problems but long-term, they're doing themselves more harm than good. Hopefully if I am ever in that situation where it's needed, I'll be able to ask for help from family or cut down my outgoings. Now I've got a job and low outgoings I'm also doing a bit of saving just in case that rainy day comes. Maybe then I wouldn't even need family's help.

[e5]

nope, never. The interest is hilarious and how it is legal I dunno! I have 2 credit cards anyway to delay a payment or would just ask my parents to borrow a bit. Avoid pay day lenders and similar at all costs. I know people who are in incredible amounts of debt from them! So many people get loans when they know they can't even afford to pay it back!

[Kyle]

If you get a payday loan knowing you can't afford to pay it back then you're an idiot frankly and it's not the lender's fault.

[lawrawrrr]

I can't imagine needing one but I know there are some people who need it short term. I think you just have to know that you're able to pay it off and don't get sucked into a hole where you're hugely in debt which is such a shame and can seriously harm you. The APRs are so ridiculous but like Hannah said, short term they're not that bad, if you know you can definitely fulfil the payment.

[MKR&*42]

Never.