Loan Alternatives

It's important to see payday loans as only a temporary, secondary solution. Before you sign up for a payday loan, consider the following alternatives:

• A personal loan from your family or friends,
• A loan from a bank or a credit union,
• A payday advance from your employer,
• Obtaining a cash advance on your credit card
• A secured loan through a pawn shop,
• Refinancing your home or
• Taking out a home equity loan

Additional Alternatives

Contact your creditors directly and request more time to repay your debt. Make sure you find out about any late charges, fees or interest that will be incurred for this service.

Financial Planning

One way to avoid the need for credit is to plan ahead.

• Create a daily or monthly budget and stick to it
• Think about purchases before you make them- do you really need that?
• Start building up your savings. Even if you start small (5%, for example) it will build faster than you know it.