Posts Tagged ‘payday advance loans alternatives’

Avoid Payday Advance Loans – 3 Great Alternatives to Pay for Emergencies

It is no more a hidden secret; everyone knows that an average consumer that takes payday advance loans pays over $625 for a loan of $300 (more than double of what they actually borrow). When you are hit with emergencies and do not have other sources to get instant cash, you may still like to go for it despite the horrible picture it shows. Interestingly, the demand for such lending programs is only increasing rapidly with every passing day. There are two reasons for it – first, the aggressive promotional campaign that the lenders are running, and second, very few people know that there are better alternatives to it. Here’s a brief rundown on three such alternatives.

Do Not Run Away from Your Creditors; Talk to Them

There is nothing to fear about. They are not going to kill you if you talk to them about your damaged financial situation. But yes, if you tend to avoid their phone calls or notices that they send, it will definitely make them suspicious. So, a better strategy is to meet them personally and discuss your specific situation to avoid . Your objective is to convince them that you are willing to repay the money provided they offer you some flexibility and make the terms a little more favorable. The chances are that they will listen to you and give you another chance, such as by extending the due date, reducing the interest rates, and waiving the penalty charges. The worst mistake that many people make is that they take payday advance loans to pay other debts. It may get you some instant relief, but it will eventually make the financial road very difficult for you.

Request an Advance from Your Employer

If at all, you really need an advance, why going to those lenders that are charging you over 200% of interest? Get it from your employer. If you have a good employment record and have been working for the same employer for several years, you are very much likely to get it, most probably at zero interest. You can get the amount adjusted with your next paycheck. You can thus easily avoid payday advance loans by cashing in your loyalty and good behavior at work place.

Earn More, Spend Less

Get a second job. Work overtime if your employer allows you to do so. The idea is to get some extra money without acquiring any further financial liability. You can make this extra income double by cutting down the fat from your expenses. Start living a frugal life; show a strong determination, you can do that. It is better to live a frugal life than making your life hell with debt troubles.

These three  are very unlikely to fail. The key point is to have the right approach towards the problem.

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Basic Things You Must Know About Bankruptcy Dismissal

When you file a petition for bankruptcy and the court rejects your petition on certain grounds, it is legally termed as bankruptcy dismissal. Dismissal means your case is officially closed and that the court will make no further rulings on your case. Some of the most common reasons why a petition is...

Credit Repair

Building Credit With No Credit

When it comes to building credit with no credit, there are several online canadian pharmacy factors that you need to take into account. Just because you do not have any credit history at present, it does not mean you will never have one. No one is born with a readymade credit history. You have to gi...

Credit Repair

A Loan To Defeat All Loans Debt Relief Loan
Payday loans fax-free payday loans and instant online payday loans are everywhere be it on the Internet newspapers or television. Today when the economy is in turmoil these loans look like the saving gra... Read more

Tips On How To Consolidate Payday Loan Debt
You may need to consolidate payday loan debt when you are caught in the middle of a financial crisis arising out of your inability to repay multiple loans. Debt consolidation loan allows you to consolidate all... Read more

Do Not Put Up With Debt Collectors Harassment
There was an emergency and the need arose to take a payday loan. It seemed to be the fastest and the best option available then. However now the debt collectors harassment is horrendous. The fact that using t... Read more

Consolidate Payday Advances To Save Yourself
Payday advances are loans taken against a persons paycheck. They have a way of digging into your paycheck month after month. They usually have exorbitant interest rates though the sites offering the services... Read more

Can I Consolidate Payday Loans
Can I consolidate payday loans is a question you are sure to ask yourself when faced with a trying financial situation. When payment of loans becomes difficult it is possible to consolidate and replace many... Read more

What are the pros and cons of debt consolidation?