Monday, February 9, 2009

I used a payday loan when my employer didn't give me my paycheck

Have you ever not received your monthly salary?

Where's my check?

If this ever happens to you, remember the option of a payday loan. Yes, it happened to me once, and boy was that tough! I work in a shipping company. A few months ago, something unexpected happened to me. I did not receive my paycheck. Everybody in my company received their paycheck but I was left in a lurch. I came to know due to 'some technical reason' my salary was put on hold. Since there was no negative performance on my part, I was flabbergasted, to say the least.

More pay next month won’t help this month

I quickly asked my boss and he said that in the coming month I would be given double the salary plus compensation of any loss I suffered. That would not exactly help me now because every month, the lion's share of my salary goes into paying my monthly bills, such as the electricity bills, telephone bills, internet bills, mobile phone bills, gas bills, children’s school fees, grocery expenditures, etc. If I don't receive a month's salary, then my financial is a mess, which actually happened then.

Strike one: borrowing money from friends

Who would lend me enough money to pay all my bills? I have never borrowed money from my family or friends and I didn't want to start now.  However I found that I had very few, or rather no, option left to me. I went to my friend Jonathan and told him what I was going through. Because of the difficult economy, Jonathan was also struggling financially and couldn’t lend me the money I needed.  However, Jonathan is a financial advisor by profession and what he suggested was something truly appreciable. ... click here to read the rest of the article titled "I used a payday loan when my employer didn't give me my paycheck"

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