to take out a wonga type loan

[someonestolemynick]

I'm self-employed, currently just getting by.

Anyway, my phone broke (physical damage, not within warranty. I can't afford the whole amount at once, but could save and have the cash in about a couple of weeks.

Urgently need my phone back to communicate with clients and the approved repair company, will not fix my phone before I have paid in full.

Am I setting myself up for the loan sharks? Really don't know what else to do, my bank won't give me an overdraft as I don't earn enough atm.

HELP.

Thanks all.

I'm pretty sure IABU just needed other people to convince me.

As others have said, just don't do it!! I'm also self-employed, and last year while waiting for a client to pay, took out one of those loans (a very modest amount) to cover a couple of bills as the bank had refused to help. We paid it back early and thought nothing of it. However, now while trying to sort out a mortgage, the payday loan keeps resurfacing. It doesn't matter how squeaky clean your bank records are, the payday loan sticks around like a bad smell. Not worth the long term detrimental effect on your credit whatsoever!