OneClickCash Beware of getting a loan fron this company. The payments are never ending and you pay charges that I feel were hidden. A $250 loan 7 months has cost me to date $630. Went on there website today after Internet

A payday loan is a rip off, but not in the way you think.  The way a payday loan is supposed to work is that You borrow the money for 2 weeks , or a month , and then pay it back. 

The payday loan "dealer", are actually charging you a fee to refer you to a "lender" that will charge you a high interest rate to borrow money  for 2 weeks.  The "dealer" charges you a fee to refer you to this "lender".  This is done to get around the Usuary Laws that prohibit lenders from charging interest rates.  So you are charged a fee to a 3rd party instead.

Here is where the gotcha comes in.  If you dont pay the loan back in the 2 weeks, to a month which is usually the time the "lender" gives you to pay back the loan, then you are required to pay another fee to refer your loan back to the "lender".  Plus you will have to pay the "lender" his accrued interest for that time period. 

If you keep rolling the loan over, You will end up paying several times over the original value of the loan.  This is all your fault.  Pay the loan off.  If you have to put off another bill, or not go honkey token for the next 2 Friday Nights, I would do it.

Here is an example.
You borrowed 250.00, probably for 1 month.  The "Lender" charged you 30% interest.  Your interest charge to the "lender" is 63.00.  The "Dealer"  probably charged you 50.00 fee.  So If you had paid off the loan at the end of the month you would have paid a total of 363.00. 

However at the end of the month you did not pay the 363.00, so you prob paid 50.00, and extended the loan.  You will be charged another 50.00 fee by the "Dealer", and another interest payment of 50.00  (because you paid 50.00 of the 250, and now just borrowed 200)  So for this month to pay it off you would owe 300.00.

See the connection here???  It keeps adding up, and up, and up, and up. The new 50.00 fee every month, plus the 50.00 interest payment you will pay for rolling the loan over, will keep you from ever paying this loan off.

I know that most states are cracking down on these lenders, and they way they are doing it is to make sure the "dealer" knows that he will have to inform his borrower of this fact.  So I know you were told this.  They explained it in thei contract.  Hell in Texas, the State is requiring the contract to show Pictures of how it works, for the benefit of those borrowers who dont have any reading comprehension.

So what is your excuse.  These fees are not hidden.  The payday loan industry is very, very regulated.