How To Avoid Taking Out a Payday Loan When You Need Money Now!

How To Avoid Taking Out a Payday Loan When You Need Money Now!

A payday loan, payday cash loan or cash advance is simply a short-term loan that you repay when you get your next paycheck. It's fast and your credit history is not a factor. People get them when they need cash loans now, today or overnight!  I'll go into some of the alternatives you might not have thought about to come up with some cash to solve your immediate needs and discuss the best payday loan approach.

Most people can't afford to set emergency funds aside for medical emergencies, auto repair bills or any thing else that could be considered outside of the normal bills.  You know you have money coming in your next paycheck but you need it now.

First of all, try not to panic.  You need to think clearly and take a little time to think things through. Is there any other way to get the amount of cash you need instead of taking out a payday cash loan?

Can you delay or skip a payment on a loan you already have?  Many creditors will let you extend your payment to another day of the month without any penalties or reporting you to a credit bureau. If you think the amount is enough to help you, you can also check with your utility and phone companies.  They will often work with customers,

Can you work any overtime to get what you need and get a cash advance on your next paycheck?  Can you get a cash advance loan on your next paycheck without putting you in a bind? If you work for a large company talk to the Human Resources Department. Some companies will give a paycheck advance and let you make the payments over several paychecks if needed, a much better option than a payday loan.

Do you have any type of hobby or skill that you could put to use temporarily?  Some people have done this in an emergency situation and ended up quitting their jobs.  Can you fix cars? Can you create gift baskets and make the round of businesses and hospitals with a sample basket. Hospital staff and patients love this. See if the gift shop will take some on consignment. Can you offer babysitting or temporary adult day care of one person - something that wouldn't require licensing?

Can you pawn of sell something you no longer need? Look around in pawn shops if you need to get an idea what they like to handle.

Can you sell something on Craigslist or eBay?  Do you have any old cookbooks you can sell on eBay? Old Betty Crocker and cookbooks with autographs will bring higher prices. Craigslist would be the best and fastest way to get some immediate cash. How about a foosball table or pool table you no longer use. Automobile parts go fast on Craigslist. Look around your house and garage. People pay a lot of money for old used Birkenstocks! Check items on eBay to establish prices, but sell on Craigslist.

If you have a pickup you can place a small ad on craigslist and offer to haul away junk for a fee. 

Do you have access to old trees for cutting firewood that you could sell?

If you're handy can you place a small local ad on Craigslist that you're a handyman or handywoman and can fix most minor household problems? Most people who work don't have time to do this and would welcome someone to come in and fix a few problems.

Would you consider cleaning houses for a day or two?

Some of these ideas may seem impossible for you but they're more to get you thinking.

If you haven't already done it can you adjust your income tax withholding so you have use of the money now instead of when you get your income tax refund?

Check with your local humanitarian agencies.  They will often loan or give you money in an emergency situation. Local churches and the Salvation Army can also be good resources.

Some states allow you to borrow against your car title.  Check and see if your state will do it.

And finally, check with your bank or credit union to see if you can get a small personal loan instead of a payday loan. These loans will have a lower interest rate and better terms.

If all the above is not possible, and you need the cash fast, then consider a good online payday lender because you don't have to produce any documents  called no-fax or faxless payday loans so you can get a loan fast and it's quick and easy. The important thing to do is research the lender to fully understand all the pros and cons. Payday loans can be a good short-term alternative when you need cash fast and you know that you can repay it with your next paycheck. But make sure to compare online lenders before you commit.

copyright©2008 Helen Hecker All rights reserved. No permission is given to copy or reproduce this article in any way or in any form.