Any other alternatives to payday loan?

ryan123_2

Hi,

We all know that payday loans are not healthy loans, so what are alternatives to it?

We know people who take payday loan are basically under urgent financial need and are with poor credit standings. SO what are the alternatives to payday loan?

Thanks,
Ryan

moneymaker2

Hi Ryan123,
Noticed no-one had replied to your post so thought i'd try and bump it up a bit.
I would try and contact the companies and explain that they can be paid on payday or try and borrow money from a family member till payday as cash till payday loans are normally 40ish % interest and they give u the option to keep extending the date for only £12-£13 a month (Bargin-NOT!!!).
Hope this helps in some way.
Laura

immoral_angeluk

bumping again!

headoutthesand

I don't really know much about this but what i do know is i would go to somewhere like cheque centre (is that what it's called) for a cash advance rather than get a bank charge. Bank charge initially are £30 plus £28 for over overdraft where as cheque centre charge 12%, 10% or 8% depending on when you want it in relation to pay day.

£100 2 weeks before pay day will cost you £10 - almost 6 times cheaper than the bank.

Luckily i haven't had to use them since last year

joeblack066

Sell stuff! I have no family that I can borrow from so I have had to sell stuff fsat to get petrol money etc in the past. If you could explain a bit more then maybe your DFW friends can give some more advice!

neophyteblogger

Be wary of payday loans, their "fast money right now" slogans camouflage an absurdly high interest rate of up to 1300% per year. Try not to get into debt, if you do need emergency money and you're falling short ask your employers, friends, family, banks.

Be very reluctant to go for a payday and do so only if you have not met with success with the prospective lenders mentioned above. Before going for a payday loan, do your homework, and try to gather as much useful information on short term loans as possible.

Remember, if caught between the devil (desire) and deep sea (payday loans), slap the devil and run like hell... this is one sea that's difficult to swim across.