Nobody likes to stay in debt. It’s a bad feeling, and a financial state that is likely to affect the way you lead your lifestyle. For instance, if you have taken a home loan or a car loan, which are usually for the long-term, then most people will always want to pay back the month’s due before anything else. It’s a top priority. Everything else has to wait.
But what about short-term loans, like a payday cash advance, for example? These are small dollar loans where the loan is offered for a couple of weeks till the next pay day. The amount is also usually between $500 and $2000, and as such, a high majority of people can pay back their debt on time without a problem. It is not a problem usually. But sometimes, unforeseen things happen. That’s life. You may suddenly face a situation where you had to spend more than anticipated, and at the beginning of the next month, you simply don’t have the money to repay the creditor.
Harassment by Debt Collectors a Real Problem
If you are in debt, and can’t repay, many debt collectors will keep calling you, making embarrassing calls, sometimes several times in a day. Suddenly, you will see many of them turn aggressive, though there are many ethical and legal payday lenders who will give you a second chance to repay. But these are exceptions. Usually, you will be in a lot of trouble from these creditors. It is not uncommon to feel like running away.