Is taking out a pay day loan my only option?

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I need a very fast $ 1500 and I don’t know the best solution.

I live in Los Angeles and work a full time job and have another part time job on the side. However, even with that, money is still very tight. Under normal circumstances, I am able to make ends meet every month, but I rarely have much of anything left over.
However, the last few months have been filled with a string of family financial problems.
My parents are close to foreclosing on their house and the my dad was laid off. Consequently, I have had to help my parents pay their mortgage and bills. It is deeply saddening to see them in that state and has been horribly embarrassing for my parents to have to ask me for money.

All in all, I make about 2100/month, including tips. I pay about 950 in rent and utilities and 75 for students loans. Then there’s insurance, food, and some expensive prescriptions thrown in.

However, because I have had to give my parents a substantial chunk of money each of the last few months (and pay my brothers rent when he couldn’t, last month), i have been left with just barely enough for rent this month.

I don’t have any credit cards or a car. After college I had a hard time paying students loans and they went into default. However, they gave me a one time opportunity to pay my way out of default and clear my record. I did that and am back in good standing. However, this is still on my credit history (something that I have filed a claim about).

Due to my own stupidity, I am facing a very big need for $ 1500 ASAP. This morning when I went to the DMV to apply for my CA license (from Nevada), I found out that I have an outstanding ticket from more than a year ago. I want to kick myself.

Basically, I need to have a license that is valid (and warrant free) because my full time job requires me to run errands on a daily basis…and because I would like to avoid jail time! I called the courthouse and if I pay the ticket amounting to around $ 1500. it will be done with and I can get my California license and be legal and move on.

However, I just don’t have it. I don’t have anything even close to it. Nor do my friends or family members. If I owned anything that was of any value, I would sell it.

I can’t come up with a fast solution. I have read lot’s of horror stories about payday loans and 90 day installment loans and the last thing that I want to do is get back in over my head and spiral back in default. It was a terrible feeling.

Is there any other reasonable solution? And if taking a payday loan is the only answer, how do I avoid shady practices?

Lastly, in order to compare payday loan’s, it appears that I have to fill out the forms with my info on their websites. Is this something that the credit bureau’s see? I don’t want to negatively impact my credit score by simply “applying” online to see quotes.

Thank you for taking the time to read this long post!



  1. Reply
    February 20, 2011 at 5:03 am

    I know that my bank (US Bank) has “payday” loans – basically advances against the next direct deposit.

    Maybe something like that would work for you???

  2. Reply
    February 20, 2011 at 6:00 am

    How’s your credit other than the student loan issue? Have you pursued getting a personal loan from a bank first? You have good enough income to support a loan. How about a credit card? You can use it to pay the ticket then pay it off monthly. How about a loan from your 401K?

    Pay day loans should be your last resort. If you MUST get one, plan ahead and know exactly when you can pay it off, and how much this is going to cost you.

  3. Reply
    February 20, 2011 at 6:25 am

    If you looking for a legitimate payday loans upto $ 1500 in less then 1 Hour .once approved Advance loan with be transferred directly to your checking account promptly, and securely. Now you’ll be able to use the cash for all your necessities.
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    good luck

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