I’ve just noticed this blog that is old sitting right here. Since it was originally written while it’s technically still correct, things have moved on. Mortgage underwriters will frequently reject people who’ve had past payday loans outright. Therefore the general stance is still in order to avoid them. For complete information look at Payday Loan guide – point 8 in the ‘need to knows’ covers this problem.
Pay day loans are the fastest growing lending type available on the market. Also for far more than for just borrowing – with some seeing them as a way to boost their credit rating – but will it work though they’re often 4,000% + APR now they’ve hit people’s consciousness, some are using them?