Are cash advance loans addictive?
By smartbrain69
@smartbrain69 (2790)
Canada
August 17, 2008 10:58am CST
I see lots of banks and financial insititutions are giving cash advance loans to person... what are your views about it. Are cash advance loans addictive?
3 responses
@asliah (11137)
• Philippines
15 Apr 13
for me i could say yes and no,i mean there are advantages and disadvantages of a cash advance,it will be addicted because you could have money so fast without any interest,and the bad here its hard when the company will deduct the money you borrowed before in your salary.
@faln_angel1205 (1192)
• United States
22 Aug 08
I would almost say it can be addictive. Once u do such a loan, and are able to pay it back without any major issues, its very likely you will do it again when you need the extra cash. I have a friend who has done probably 4 title loans on her car...usually she does it pays back monthly and then pays the balance off at tax refund time. Sounds crazy but desperate times call for desperate measures. At least in her case i know its not for frivilous things, she does it when its for important things like unexpected bills and such that have to be paid.
@bubblyapple (2653)
• Philippines
17 Aug 08
you cannot say that it is addictive....i guess people tend to do it over and over is because they have already spent the money even before they have earned it...so the result is that when the payday finally arrives, the money that they earn is now alloted to paying the cash advance loans that they incurr....so in the end, they dont have money again for the next several days before the next paycheck...and what happen is that they borrow money again...and the cycle just goes on and on if that person wouldn't take a stand to stop it and learn to manage his or her own moeny effectively...



