Payday Punks - Payday Cash Advance

Payday Cash Advance

The secret code of Payday Punks

-Hey man, you wanna hang out at the park?

-Uhh, yeah. What park?

-I dunno, does it matter?

-There gonna be a payday advance there?

-No.

-Sweet. I'm in like Rodney Dangerfield.

-Propaghandi!

Getting weird with a payday cash advance

Have you ever wondered where a payday cash advance comes from? I mean, what are they really all about? I heard Angel "Dinero Grande" De La Benedicion tell it like this. He said:

the payday cash advance was initially intended as a source of emergency cash for people desperate for fast money.
these cash advances were originally found only with banks, but the paperwork and required qualifications made their payday cash advance an impossibility for a majority of the people who needed them.
So independent lenders saw this great demand for fast money, set up locations in neighborhoods where the demand was high and where they could distribute cash advance loans en masse.
Which they did, and they gradually rose their rates to higher and higher levels to see if people would pay them. And we did, we all paid the increasing costs for payday loans because we really didn't have any other options and the benefits of a cash advance are oh so good.
So despite their charging upwards of 600% APR to provide these short term loans, people are paying, the government does little, an the greed of these lenders only increases.

No one is out there to help us, man! Can you believe that? Dinero Grande was right, if you need money now and don't have it, you will probably need money later and still not have it. And thats where the payday cash advance gets you man, when you keep going back again and again and again. Shoot, thats crazy stuff right there man. Like, totally cosmic energy. Right? Oh, yeah! Payday cash advances are an undeniably powerful energy field! What? What? I'm tired. Forget it.

A trick of the payday lending trade

You know what I also heard? Now this is the honest to God truth: the people providing that payday cash advance often try to cash your check before the agreed upon date. It may not sound like a big deal, but dude it really is:

if this date is before payday, which it will probably be, you known and they know your funds cannot cover it, otherwise you wouldn't need a cash advance loan in the first place.
the check will bounce, meaning you will still owe the lender his money, and fee, and roll over fee, plus an additional charge to the bank for bouncing that check.
So your deeper in debt than when you started, you cannot survive till the next payday and you take out a loan again. So you continually struggle to pay off your debts while these lenders are always figuring out new ways to create more debt for you.

Those guys are bad dudes - you better watch out.

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