Let me give you an example of when it is acceptable to get a pay day loan Michigan style! When it is Christmas and in the month of December you spend $300 on presents, now this is not a cost that you incur every month, so you should have less liquidity in December than you do in other months.

This is why if you get a pay day loan and borrow $150 in advance from your next pay check then think of what you have done. Instead of incurring the burden of $300 over one month, you have halved it and now you have two months to pay it back. I am telling you folks, if you take a loan under pay day loan Michigan Regulations or almost from any state in the USA then you can be sure that as long as you have enough assets you are almost sure to get the loan, however this could involve losing your home if you cannot pay it back.

This means that they could retrieve your assets which are why you should be careful. Another thing that people need to realise is that you will pay an interest rate in excess of 150% APR, and this is massive by anyone’s understanding. Normally, on finance products such a mortgages this rate would be less than 15 times as much!