A lot has been written about the topic of payday loans, or quick loans over the Internet. Some praise others, on the contrary, they think that it is not worth using. However, despite many negative opinions, people make requests for them all the time. We do it especially when we do not have money on our account in the bank and we have an unexpected expense. However, should everyone apply for “quick money”? Certainly not and below we will try to explain why.

Quick online loans have two basic disadvantages. First of all, their costs are relatively high, and secondly, we have little time to repay them. And it is time that plays a decisive role here. If we are applying for a payday, we must be aware that after 30 or 60 days we will have to pay all the debt. So we have to be sure that when there is a time to make a transfer to a loan company, we will have enough funds to repay. If we do not do this, we can of course ask for a postponement of the repayment date, however, this will entail additional costs. In addition, the repayment period will not be too long again, so again we must have money to repay the debt as soon as possible. Loan companies charge very high costs in the event of non-payment of liabilities on time. Certainly it is not beneficial for us and causes “drainage” of our home budget. Therefore, only people who are sure that they will have the funds to pay the loan at the time of repayment should use the payday loans. If we do not have such certainty – it is better not to use the remark.

For sure, people who already have debts and have money to pay off the installments should not take advantage of payday loans. Borrowing them to pay off other debts will quickly lead us to a spiral of debt, which will be extremely difficult to get out of. If we pay the money with funds obtained from the loan, we must realize that in the next month, we will receive another repayment. And if we do not have the money to pay off our old debts, where will we get more (will we get one more commitment) next month?

Although it’s certainly a product that should be on our market, it’s not everyone who should use it. Therefore, before we make a request for a quick loan online, let’s think carefully whether we really need it and whether we will not have any problems with its timely repayment.