Six Smart alternatives to payday loans

Payday loans are short term high interest loans intended to be protected, the next payment period or two. Payment of the loan, the borrower uses a collection of permissions that your account, or posting on. Because these loans are generally not required limits and credit checks good credit history, people with bad credit history or financial problems you can usually choose this option. Given the nature of these types of loans is also very easy to fall into a cycle of debt finance up to 400% interest and even additional financial burden.

This type of loan is usually a very exciting and very interesting money trap, for consumers who have a financial bind, and I feel that after running out of options. There are still other alternatives though. Payday loans, something that requires careful handling and very carefully and, as far as possible, should be considered last resort type of solution and something only if they can pay the loan back along that entire period. If not, ask for alternative, more consumer-friendly and affordable.

Payday loan alternatives:

1. negotiate with the payment options, lender. If you are positive, you will not be able to handle the payments on time, and it feels like an extension you need, contact your lender and loan companies, and extra time. New payment plan will be suitable for your financial situation. It may come as a surprise, but many lenders are really willing to work with you, and accept the offer.

2. Get a cash advance from your employer. If you need to call a financial emergency, try to talk to your employer and see if you live in a salary advance. The good thing about it is an alternative that is not really a loan, because of the nature of money in the first place-but it's just getting a little faster than I usually have. This option is basically cheaper than payday loans because, since no loan, no interest.

3. Rent savings. If you have an emergency fund or savings account that is safe, try to touch it. If you do not already have one, then it may be time to take just in case you get another financial mess in the future. Starting with a small amount weekly suddenly can be very useful, and a life-saver, if your financial problems to come.

4. Consider a credit union loan. If you happen to be a member of Credit Union, trying to talk to, who has been responsible for finance, and tried to ask if they offer short-term emergency loans to members, aide financial needs. Since States are focused on helping credit Union credit generally offer lower-interest loans would be cheaper than anyone else-not to mention the price agreement is more flexible.

5. Borrow from a friend or relative. But I warn you first, be careful with this option. If you have a friend or relative willing to lend the amount to make it a point to pay them as soon as possible. Many links go to ruin, because of unpaid debts, and something you do not want to get yourself into.

6. Consumer credit counseling. If you feel that your financial situation is out of control, taking into account the credit counseling. Come up with a realistic budget that relate to your creditors on your behalf to negotiate a lower monthly payment and interest. Very, very important to ensure that the work on the consulting services of a credible and legitimate and not a scam, just a fly-by to take advantage of the situation.

Cooper is an author, freelance wedding photographer, and sometimes credit counselor. Now I am currently working as a blogger, a number of sites related to cash advance payday loans online.