[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/rkillen.ca\/is-a-payday-loan-a-good-idea\/#BlogPosting","mainEntityOfPage":"https:\/\/rkillen.ca\/is-a-payday-loan-a-good-idea\/","headline":"Is A Payday Loan A Good Idea?","name":"Is A Payday Loan A Good Idea?","description":"Is A Payday Loan A Good Idea?Watch this video on YouTube In this video, Richard Killen, a Licensed Insolvency Trustee in Bankruptcy Scarborough talks about whether a Payday loan is worth considering. I guess one can say that going into debt, any kind of debt, is hardly ever a good idea. Usually, the cost of […]","datePublished":"2017-06-26","dateModified":"2023-04-13","author":{"@type":"Person","@id":"https:\/\/rkillen.ca\/author\/adminrkillen\/#Person","name":"R. Killen","url":"https:\/\/rkillen.ca\/author\/adminrkillen\/","identifier":1,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/291a08cd2df156bf4f7bceb09e15cda94bbf15ef7e70c7db3a538bde0c4a0230?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/291a08cd2df156bf4f7bceb09e15cda94bbf15ef7e70c7db3a538bde0c4a0230?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Richard Killen and Associates","logo":{"@type":"ImageObject","@id":"https:\/\/rkillen.ca\/wp-content\/uploads\/2016\/08\/landscape-logo-12345-for-web.png","url":"https:\/\/rkillen.ca\/wp-content\/uploads\/2016\/08\/landscape-logo-12345-for-web.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/rkillen.ca\/wp-content\/uploads\/2017\/06\/is-a-payday-loan-a-good-idea.jpg","url":"https:\/\/rkillen.ca\/wp-content\/uploads\/2017\/06\/is-a-payday-loan-a-good-idea.jpg","height":720,"width":1280},"url":"https:\/\/rkillen.ca\/is-a-payday-loan-a-good-idea\/","video":{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=wm-_yPgbfws#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=wm-_yPgbfws","name":"Is A Payday Loan A Good Idea?","description":"http:\/\/rkillen.ca\/is-a-payday-loan-a-good-idea\/ In this video, Richard Killen, a Scarborough-based Licensed Insolvency Trustee talks about whether a Payday loan is worth considering.\n\nI guess one can say that going into debt, any kind of debt, is hardly ever a good idea. Usually, the cost of the debt outweighs whatever benefits you may get from borrowing the money. However, sometimes debts make a good case for making some worthwhile. \n\nFor instance, is a mortgage worthwhile? Because you borrow a large amount of money for buying a house, you are going to pay back that money with interest but the house will appreciate in value. And over time that appreciation more than outweighs the cost of the debt. Maybe that kind of debt is a good idea. \n\nUltimately, it always boils down to whether the cost too much and how much is the cost? Now there is always going to be interest on any loan and that is what you must consider. \nNow unfortunately, Payday loans are on the high end of all interest calculations so one can say that it is tough to say if a Payday loan is worth it.\n\nIf a Payday loan is a part of your coping with bills strategy, you should consider having a consultation with one of our trustees. It may be the most stress relieving call you make this year. \n\nIf you are uneasy about bankruptcy you should definitely visit a licensed insolvency trustee so that you will be given an advice about your bankruptcy problems.\n\nWe can meet with you during business hours or book after hours appointments if that is more convenient.\n\nContact us for a fresh start 1 (888) 545-5365\nLive your life free of financial stress!\n\nFollow us on Instagram: https:\/\/www.instagram.com\/killen_trustee\/\nFollow us on Twitter: https:\/\/twitter.com\/Killen_Trustee\nFollow us on Facebook: https:\/\/www.facebook.com\/rkillenassociates\nFollow us on Linkedin: https:\/\/www.linkedin.com\/company\/richard-killen-&-associates\/\nConnect on Linkedin: https:\/\/www.linkedin.com\/in\/richard-killen-020aaaba\/\n\nRichard Killen and Associates have 10 locations across the Greater Toronto Area.\n\nOur main office is at\n\nRichard Killen & Associates\n2130 Lawrence Ave\nEast Suite 402, M1R 3A6\nTel: (416) 285-9511\nhttp:\/\/rkillen.ca","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/wm-_yPgbfws\/default.jpg","https:\/\/i.ytimg.com\/vi\/wm-_yPgbfws\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/wm-_yPgbfws\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/wm-_yPgbfws\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/wm-_yPgbfws\/maxresdefault.jpg"],"uploadDate":"2017-06-26T00:32:57+00:00","duration":"PT1M25S","embedUrl":"https:\/\/www.youtube.com\/embed\/wm-_yPgbfws","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCVqfGDwXy-OK5RHKZGkaMUw#Organization","url":"https:\/\/www.youtube.com\/channel\/UCVqfGDwXy-OK5RHKZGkaMUw","name":"Richard Killen & Associates Ltd","description":"Since 1992 we at Richard Killen & Associates have helped thousands of people resolve their financial problems. With over 22 years experience in this industry, our president, Richard Killen, and the rest of our team understand the difficulties that honest people can sometimes find themselves in. This expertise makes it possible to provide you with a service that effectively deals with the issues.\n\nThe strength of our company is exemplified by the manner in which we treat our customers. We understand the intense pressure people are under. You will feel better after having spoken with our staff and your sense of dignity will be restored. The relief most people feel is tangible.","logo":{"url":"https:\/\/yt3.ggpht.com\/ytc\/AIdro_nK1yzM56nIFCGmWO7scxw1pLTW2Z8LVLH_kg8kdbbfw5M=s800-c-k-c0x00ffffff-no-rj","width":800,"height":800,"@type":"ImageObject","@id":"https:\/\/www.youtube.com\/watch?v=wm-_yPgbfws#VideoObject_publisher_logo_ImageObject"}},"potentialAction":{"@type":"SeekToAction","@id":"https:\/\/www.youtube.com\/watch?v=wm-_yPgbfws#VideoObject_potentialAction","target":"https:\/\/www.youtube.com\/watch?v=wm-_yPgbfws&t={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"},"interactionStatistic":[[{"@type":"InteractionCounter","@id":"https:\/\/www.youtube.com\/watch?v=wm-_yPgbfws#VideoObject_interactionStatistic_WatchAction","interactionType":{"@type":"WatchAction"},"userInteractionCount":59}]]},"about":["Consolidation Loans","Credit Rating","Debt Counseling","Financial Advice"],"wordCount":235,"keywords":["consolidation loan","debt","payday loan"],"articleBody":"Is A Payday Loan A Good Idea?Watch this video on YouTubeIn this video, Richard Killen, a Licensed Insolvency Trustee in Bankruptcy Scarborough talks about whether a Payday loan is worth considering.I guess one can say that going into debt, any kind of debt, is hardly ever a good idea. Usually, the cost of the debt outweighs whatever benefits you may get from borrowing the money. However, sometimes debts make a good case for making some worthwhile. For instance, is a mortgage worthwhile? Because you borrow a large amount of money for buying a house, you are going to pay back that money with interest but the house will appreciate in value. And over time that appreciation more than outweighs the cost of the debt. Maybe that kind of debt is a good idea.Ultimately, it always boils down to whether the cost too much and how much is the cost? Now there is going to be interest on any loan and that is what you must consider. Now, unfortunately, Payday loans are on the high end of all interest calculations so one can say that it is tough to say if a Payday loan is worth it.If a Payday loan is a part of your coping with bills, you should consider having a consultation with one of our trustees. It may be the most stress relieving call you make this year."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Is A Payday Loan A Good Idea?","item":"https:\/\/rkillen.ca\/is-a-payday-loan-a-good-idea\/#breadcrumbitem"}]}]