Payday Loans: Quick Loans or Quicksand?
                     Payday Loans: Quick Loans or Quicksand?
Uh oh! It’s the end of the month and you suddenly realise you have to return the money you
borrowed from an acquaintance for your house repairs. Did the thought give you chills? 
Well, you need not worry as long as you have a payday loan option waiting for you. For all 
those people who are suddenly burdened with an unexpected expense, these instant loans 
seem like a saviour. So, what exactly are payday loans?  These are short term loans that 
facilitate immediate cash at hand. Usually they need only the pay slips, SSN and account 
statements.
So, you must be wondering that if they are actually so great, why are we even writing this 
post? Well, as good as the payday loans look, there are a few things, we would want you to 
keep in mind before you impulsively go and get some cash to remove your financial crunch. 
Do take these points seriously as they could save you a great fortune!
What you must watch out for in the payday loans?
1. Though they may give you some immediate relief, payday loans could mark you 
unqualified to get mortgage loans. Why? Because the repeated repayment 
transactions on your account statements could make you as a defaulter.
2. It could put you in a habit of frequent borrowings and dilate your spending attitude. 
You could easily fall into a debt trap and then your problems could multiply!
3. The ease of operation of the payday loans could beat a little stake as there is a 
possibility of new, stricter caps and rules being implemented on these. The charges 
of the instant loans are to be increased and the duration of the $500 loans is to be 
restricted to 90 days.
With more and more payday loan lenders in the market, it has become a matter of concern 
to keep a proper check on the process so that there is no financial obligation, both on the 
lender and borrower side. If you want to apply for an instant loan, do check out the Yelo 
app for a very smooth and hassle free way to say good bye to your cash crunch!