I Got A Payday Loan Part II

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About two weeks ago, I opened heart & soul to review what it’s like to get a payday loan when you yourself are an employee of a short-term lender.

It’s a funny thing; blogging. It’s like a diary, except with thousands of readers. So, when you produce prose like it’s your job (hah), it’s a delicate balance of information-giving and soul-opening. And that, dear readers, can be a terrifying experience all-around.

In part I, I covered the various emotions and thoughts that come with arriving to the decision to apply for a payday loan, in addition to the odd elation that comes with seeing that little piece of security in your account. Part II will cover less, but I found it to be the most interesting part of the whole experience.

No “Credit-type” Guilt

If you’re like me, you have a past with your credit cards. Whether it was some foolish mistakes in university, an impulse-buy that you’re still not over, or a cash-advance withdrawal that has you questioning your own judgement to this day, chances are most of you understand the guilt that comes with a not-so-smart purchase using your plastic.

Like many others, I half-expected the same kind of guilt to come with taking out a short-term loan. The back-and-forth, the “should I return it” talk or, my favourite, the “you deserved this so get over yourself” speech; at least one of them was bound to make an appearance, or so I thought.

But none did. It was over and done with. Even though it was my own money, come and gone technically a wee bit before I had earned it, the expected guilt was not there. The money was indeed gone and it certainly was mine. I chalk it up to the mental preparation before-hand.

After deciding that I wanted to get a cash advance, I came up with a plan. There was no guilt or unease because everything I had expected had come to pass. We understand that budgeting is responsible for the most obvious reasons, but it is for even less obvious reasons. The insidious, elusive guilt that comes with impulse-buys or impulse-credit card applications will not be present if you don’t want it to. Taking out a payday loan is no different.

Speaking of Expectations…

I’ve been writing about payday loan terminology, agreements & law for about a year, so you can say I knew exactly what I was going to be getting myself into when I took out this advance. However, it still didn’t prevent me from asking the loan officer handling my account any questions. My situation was unique, of course, as an employee, and though I had 100% trust that everything would go according to plan, it was still my responsibility to know exactly how and when things would be handled.

Every time you apply and are approved for a payday loan, you sign a loan agreement. With GoDay.ca, as we’re solely online, once you drop that pixelated e-sig, you’re declaring that you’ve read, understood and acknowledge your responsibilities to your loan. That means, by doing so, you know exactly what to expect, and expectations begets confidence. Never a bad thing.

So long, farewell.

When the advance is taken out, that’s it. No more obligations. No more commitment. And though I’m fine with duty and commitment, I’d be happier with less debt, regardless of how small it is. Additionally, it’s nice to know that should I ever actually need a service like this, it’s here. I’ve gone through the motions and I know what to expect the next time. It was honestly one of the easiest financial moves I’ve made.

So, if you’re considering easing the temporary cash-flow restriction you might be facing, I invite you to apply with us. Increase your peace of mind, pay off a bill early, or get ahead with some of your home inventory. I promise you that it will be one of the simplest and straight-forward things you’ve done all week.

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