Alternatives to Payday Loans
Taking out a payday loan is one of the most expensive ways to borrow money. Payday loans should generally be avoided at all costs. First look at alternative funding options if you need assistance.
Why Should I Avoid Payday Loans?
SEE WHAT IS PAYDAY LOAN ?
Put money aside in your savings account for emergencies.
Obtain credit to enable borrowing from mainstream lenders.
Keep a credit card available for emergency expenses.
Ask your bank or credit union for a signature loan (also known as an unsecured loan).
Get a part-time job to earn some extra money.
Talk to your lenders about modifying your loan or creating a payment schedule.
Look at checking account overdraft protection plans.
For a better bargain, consider using peer-to-peer lending services.
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