General Question

silky1's avatar

Is there a pay day loan company that gives loans to people who receive social security?

Asked by silky1 (1510points) July 20th, 2011
7 responses
“Great Question” (0points)

Just wondering. Or do you have to have a regular job?

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Answers

YARNLADY's avatar

My Mother In Law was able to get loans on her Social Security Disability, so I suspect that you could. I believe she also used her car as collateral.

She now has a certified payee who manages her money for her, so she doesn’t run out.

jaytkay's avatar

I do not know but payday loans have really high interest. You can save A LOT of money by avoiding them.

I know that is not always easy, most people struggle with money at some time. Here’s a question from today which may help:

What are some things you do or suggest people do to earn quick cash?

Nullo's avatar

Not really an answer to your question, but I strongly advise avoiding payday and title loans.

gorillapaws's avatar

@Nullo is correct. Most of these things are scams that can result in you loosing your car, because they’re taking advantage of people in desperate circumstances.

Tropical_Willie's avatar

~~ If you are young enough, they will take your first born for collateral. ~~

Most pay day loans are to pay for something you REALLY DON’T need.
There is a need to find community support or a nonprofit credit counseling.

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