Civic4Sale

just wanted to know out of curiousity. how many of you guys ever done payroll advance? How much do they usually charge for interest. And do i need a checking account to do it? How does the process go? Just in need of money to pay off some debt. haha

slowrex89

don't take a loan to pay off a debt. You will only dig yourself deeper in a hole

Civic4Sale

What if it is urgent like monthly rent?

slowrex89

well sometimes you gotta do what you gotta do. However, before doing one of those bullshit high interest deals, maybe try to look into somethign else first. I guess I really can't say to much, since I do not know your personal situation

Cray91

Those payment advances will kill you.

I would just ask your super if you can slide on the rent. Or pay what you have now and then the rest on Payday. offer to pay at least some so you don't become a total deadbeat. You also usually have a certain amount of time after rent is due to pay it with a fine. A fine would be better than being in debt to somone else.

jaykew99

you need to buy a home first then every couple years refinance and take out equity to pay off debt, guys its so simple

Racintweek

i thought you borrow againts your eqity

jaykew99

nope

say you got financed for a 200 000 dollar house in 2003, now that house is appraised at 230 000 dollars, that extra 30 000 dollars is the equity, it is basically just money that came about due to area growth, economic growth, etc... so now you just refinance for how much ever you owe on that original 200 000 dollars and that extra 30 000 comes out and goes to you. You can put that 30k into home improvements, pay off bills, etc. this is just an example.

96_civ

^ that is borrowing from the equity. the worth that your house gains as you own it is referred to as equity.