The FTC warns consumers about payday loans and offers alternatives.
Get a loan from your credit union.
Many credit unions offer small loans for customers. Mine offers a 500 credit line and overdraft protection enable me to transfer up to 500 to my checking account online or at the ATM. check and see if your local credit union offers this. Maybe you should switch your checking account to a credit union. The fees they charge are low 10.5% APR. If I overdraw without transering the money overfirst I am charged only 5 dollars for the overdraft and the transfer blocks of $100 to cover the overdraft prevent multiple overdraft fees.
Shop for the credit offer with the lowest cost.
The payday loan fees very from $10 to $30 per hundred borrowed so shop around. Also talk to your creditors some loan companies allow you to skip a payment once in awhile. My auto loan company allows you to skip a payment once a year with no penalty other then interest on the the loan some home loans also offer this.
Contact your creditors
If you are having problems paying your bills talk to your creditors maybe you can get lower payments or you can skip a payment. They know times are tough right now and maybe willing to work with you.
Make a budget and keep to it
Track your experiences write down everything you spend and at the end of the week look for things you can eliminate or cut back on. try to save 20 to 100 a week so you have some cash for emergencies.
have a garage sale or sell some stuff on Craig’s list.
Sell some unneeded and unwanted stuff
Go back to school and increase your income
Find a way to increase your income and pay down your debts.
We are working on create the best site about payday loans and will be look for more alternatives to payday loans and will be create a new site soon
