Pay Day Financing

How Payday Loans works – biggest dangers & 14 better alternatives


Process to get approved for a payday loan! According to a Bankrate survey, about 25% of Americans live salary to salary. The money they earn barely covers their daily expenses, with little or nothing left for emergencies. If you are in this situation, unforeseen expenses – such as a $ 300 repair for cars – can cause a [...]

How Payday Loans works – biggest dangers & 14 better alternatives2019-06-30T09:26:24+00:00

The Payday Lending Industry


Payday lending is a big company. The Community Financial Services Association of America (CFSA) has more than 20,000 member locations – more than Starbucks or McDonald’s. Around 19 million American households (nearly one in six in the country) have taken out a payday loan at some point. How Payday Loans works Payday loans get their [...]

The Payday Lending Industry2019-06-30T09:25:20+00:00

Who uses Payday Loans and why


According to the 2012 Pew report, 12 million Americans take out payday loans every year. About 5, 5% of all American adults have used one in the last five years. The people who are likely to use flash credits are: Young (ish) . More than half of all users of payday loans are between 25 and 44 years old. About 9% [...]

Who uses Payday Loans and why2019-06-30T09:23:55+00:00

Automatic title loans


To circumvent the restrictions on payday loans, some lenders instead offer automatic title loans. However, this so-called alternative – which is illegal in about half of the states in the country – is actually just a loan in disguise. When you take out an automatic title loan, the lender examines your car and offers you a [...]

Automatic title loans2019-06-30T08:50:35+00:00

Dealing with debts


Instead of simply delaying the payment of your bills, you can try to negotiate with your creditors and see if they give you a break. They don’t want you to file for bankruptcy, because if you do, they lose everything. In some cases, creditors accept a flat-rate payment for only part of what you owe. In other [...]

Dealing with debts2019-06-30T08:46:17+00:00

Sell or pledge your assets


If you are in a hurry with cash, try cleaning your cupboards. Search for high-quality items that you can sell, such as: Jewelry (such as an engagement ring) Electronics (new or old) Musical instruments Unused tools Collectibles If you have a store in your town that deals with this type of goods, try it first. If [...]

Sell or pledge your assets2019-06-30T08:45:14+00:00

Collect your paycheck early


Instead of getting a payday loan to proceed to your next salary, you should determine whether you might be able to collect your salary early. If you work for a large company, go to human resources and ask if you can get an advance on your salary. If you work for a small company, you [...]

Collect your paycheck early2019-06-30T08:43:38+00:00

Borrow from friends and family


In some ways, borrowing money from friends and family is the best deal you can get on a loan. People who care about you will probably not disappoint you if you are in need. They probably also give you enough time to pay it back and make it easy for you if you miss a payment. Sometimes they [...]

Borrow from friends and family2019-06-30T08:41:46+00:00

Go to your bank


If you can get one, a personal loan without collateral from a bank or a credit union is a much better deal than a payday loan. The interest is much lower, and you have more time to pay it back. According to the Federal Reserve, the average interest rate on a personal two-year loan was 9, 75% [...]

Go to your bank2019-06-30T08:21:27+00:00

Use Online Lenders


If you cannot get a loan from your local bank, you can search online. Many internet financers offer small, short-term loans, even for lenders. Some sites to check are: MyCashBorrow . This website is not a lender, but helps borrowers with a low income to find loans. When you complete an application at, the site finds lenders who are [...]

Use Online Lenders2019-06-30T08:20:18+00:00