The very easy and quick means by which lenders are making cash advances available to people who need money on a short, temporary basis, is creating a social problem called "cash advance dependence." Many people are not even aware that they are becoming dependent on these regular, temporary cash advances.
These individuals are creating an insecure, destructive 'safety net' for themselves, which they do not fully realize or are even aware of. The best thing is to admit you have a problem and get yourself out of it. Just going from loan to loan, month to month is a very fragile way of running your life. Just think, if you missed a couple of payments elsewhere and ruined your credit status, this credit line would soon disappear too.
People are discovering just how easy it is to get money with the modern methods of easily obtaining cash advances. In some cases, this means that some people are taking up cash advances even when they do not have a financial crisis, which is what cash advances were first intended for. Some people are even using cash advances even for a birthday gift or a special night out.
It is truly the case, that many people are using the money that they get from payday advance loans, to go on a short break, buy a new car or something to that effect. This is obviously not the smart way of employing this financial tool. This is in fact an abuse of the privilege that one obtains from being able to draw a cash advance. It is also destructive to one's learning of how to handle money correctly.
The "no credit policy" of the majority of local shops is also one of the reasons why people are becoming cash advances addicts. It means that people feel that they need to borrow money from a loan advance company, which means in turn that they end up having a higher debt to repay. If this situation goes on unchecked, it can result in some people having to file for bankruptcy. This changes the problem from being just a personal responsibility into a broader, social one.
The most important action you can take is to get out of debt as soon as possible. You could seek help from a financial advisor from your bank or from another private financial sector company. It is their job to help you take a step in the right direction by making regular payments, which will eventually get you out of debt. Soon, you will be able to enjoy your interest free, hard earned money and will be back on track to a better and healthier financial situation.
However, after having said all that, I want to say that cash advances should not be blamed for our own human weaknesses: the lack of financial education is the actual culprit here. - 31377
These individuals are creating an insecure, destructive 'safety net' for themselves, which they do not fully realize or are even aware of. The best thing is to admit you have a problem and get yourself out of it. Just going from loan to loan, month to month is a very fragile way of running your life. Just think, if you missed a couple of payments elsewhere and ruined your credit status, this credit line would soon disappear too.
People are discovering just how easy it is to get money with the modern methods of easily obtaining cash advances. In some cases, this means that some people are taking up cash advances even when they do not have a financial crisis, which is what cash advances were first intended for. Some people are even using cash advances even for a birthday gift or a special night out.
It is truly the case, that many people are using the money that they get from payday advance loans, to go on a short break, buy a new car or something to that effect. This is obviously not the smart way of employing this financial tool. This is in fact an abuse of the privilege that one obtains from being able to draw a cash advance. It is also destructive to one's learning of how to handle money correctly.
The "no credit policy" of the majority of local shops is also one of the reasons why people are becoming cash advances addicts. It means that people feel that they need to borrow money from a loan advance company, which means in turn that they end up having a higher debt to repay. If this situation goes on unchecked, it can result in some people having to file for bankruptcy. This changes the problem from being just a personal responsibility into a broader, social one.
The most important action you can take is to get out of debt as soon as possible. You could seek help from a financial advisor from your bank or from another private financial sector company. It is their job to help you take a step in the right direction by making regular payments, which will eventually get you out of debt. Soon, you will be able to enjoy your interest free, hard earned money and will be back on track to a better and healthier financial situation.
However, after having said all that, I want to say that cash advances should not be blamed for our own human weaknesses: the lack of financial education is the actual culprit here. - 31377
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