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Proof of employment or a pay stub helps lenders ensure you can pay back your loan amount, and your banking information is required to perform a direct deposit of your loan amount.
These pieces of information are much simpler and less invasive than the mountain of paper work that traditional loans or title loans require. Using Payday Loans Responsibly. Same day payday loans are a great way to overcome a short-term financial hardship. It is important to remember that these types of loans have a specific purpose.
It is meant to be a quick solution for lifes curveballs, but not a long-term solution for financial trouble.
He says he feels guilty that he wasnt able to pay back the loans. These people did give me money. It aint their fault I couldnt manage it, he said. But he says the same thing that happened to him could happen to anyone. The payments are so high [for these types of loans], theres no way anyone could honestly pay them.
And anybody that dont make a whole lot of money, its gonna do them the same way. So they really shouldnt even be offered. If you have a personal story about borrowing money online, The Huffington Post wants to hear from you. Contact Hunter Stuart at hunterhuffingtonpost. com or 212-402-7149.