I Was Refused a Bank Loan and Had To Turn To a Payday Lender

 

I wanted to share a story of what happened to me a few years back. It’s honestly embarrassing and frustrating, but I’d like for my potential students to know more about me!

One of the most embarrassing moments of my life (and there have been many) was the day I was laughed out of my bank when I tried to apply for a loan. I thought it was a little harsh.

Now, it’s not the first time I’ve been embarrassed at the bank. The time I went to open a new account and the clerk literally called all of his co workers over for the sole purpose of laughing at my ID picture was also quite a low point. But this was probably worse.

I wouldn’t say I have the best track record with money. I probably didn’t need to buy 4 almost identical $400 studded leather jackets within a week of each other for example. But I don’t think there was any need to laugh me off the premises.

I went home feeling like a fool. Which says a lot coming from someone who once thought nothing of being sent home from school for smelling too bad (to be fair to me, it was because somebody else had vomited directly onto my head). That’s when I saw the answer to my prayers. A TV commercial for an instant loan. Obviously, I’d heard of these so called ‘payday’ loans before. But they have terrible reputations, so I’d thought the bank would be the more professional route to take. Although, if you ask me, falling into hysterics at your customers isn’t exactly the height of professionalism. But who am I to judge?

Anyway, after my stint as the local laughing stock, I didn’t want to go back out and ask for a loan face to face again. Luckily, the lenders offering loans near me had an online application system. I was up and running with the cash in my bank that same day. And in their defence, there are multiple clear warnings about how costly these loans are right on the homepage of the website.

I found the whole experience quicker, easier, and a whole lot less shameful than trying to get a traditional bank loan. Where before, I judged all people taking out loans of this nature. I have realized that sometimes payday loans companies offer a valuable and much-needed service that is unavailable anywhere else. Also this is the site I used to find the loan: http://www.financeflamingo.com/