Cramer says payday loans are better than bouncing checks
CNBC host Jim Cramer told viewers on his "Mad Money" television program to get long payday lenders Advance America Cash Advance Centers and Cash America International as a way of taking advantage of problems in the subprime-mortgage lending market.
Cramer said, "Even though the rates are high, taking out one of these loans is better than bouncing a check or being late on a credit card or missing a utility bill."
If you take a quick cash loan, please only borrow what you will be able to pay back when you get paid from your job.
Rolling existing payday loans can be a disaster financially. Please always borrow responsibly.
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1 comment:
A payday loan and cash advance was the best option for me. I didn't want to bounce a check and have mulitple NSF fees; not to mention the added reconnect fee for my utilities. Payday loans provided the much needed relief for my cash emergency!
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