Payday loan or in other words, a cash advance to be repaid on receiving salary. Salary advances are sometimes practiced in companies, with proper approval so that a needy employee can take the cash advance as loan and the company will take the loaned amount from the next salary of pay check. There are small finance institutions that give away such loans too and collect them once the receiver gets the salary. However the interest rates charged by these institutions on these short term loans are very high. When a person fails to pay back the money in the said duration, they begin accumulating a huge burden in from of the interest. Thus a payday loan debt relief is something God send for those caught in this cycle of interests over interest!

To have a debt relief from the payday loan one can try the following.

1. Firstly one can try to get a low interest loan or a personal loan and pay off the payday loan and then pay the second loan with remarkably reduced financial load. This is technically called debt consolidation. The same technique is applied by many a people to clear credit card payments.
2. One can also take cash advance from their credit card account if possible and pay off the loan. But then the credit card interest rate must be lower.
3. Thirdly, try to pay off the pay day loan before the pay check date, if possible, by borrowing from interest free lenders like friends or family members. If this is possible there is nothing else better!

However, the best way to avoid getting trapped in a payday loan is in the first place avoid it. The following simple steps can always come in handy:

1. First and foremost save!
2. Have health insurance done for all family members and have property insurance etc. Pay regular premiums on the insurances if so required.
3. Always have a rainy day emergency fund. This is some money set aside from the regular savings and is to be used for emergency only.
4. Plan and execute spending. Do not get into rash and unplanned purchases. You might end up buying things that may eventually become completely useless after a few days.
5. Invest wisely. It is good to spread investments over a couple of alternatives like Bonds, Dividends, equity, ULIP, Mutual Fund etc. It may be impossible for many to invest in so diverse avenues at the same time. But it is worth to at least worth is one has at least one guaranteed returns investment and the other based on a speculative market.
6.    Do not blindly take loans. Check out options, especially interest rates and repayment terms. Also read the fine print in a loan document with more thought than the regular print.

Payday loans might appear to be harmless like a dorsal fin on the surface of the water. It might turn out to be a dolphin or a shark!