PAYDAY ALTERNATIVES

Payday loans are a fast way to access cash, but must be used responsibly and only for the short term. Several alternative varieties of short term loans can provide borrowers with a more affordable way to restructure their finances and pay off debts... The most common use for a payday loan is financing ordinary living expenses. In fact, these recurring expenses are what 69% of first time borrowers list as their reason for applying for a payday loan. Groceries, rent, gas for the car, and child care can quickly add up. A borrower needing a fast and simple solution may end up choosing a payday loan because payday lenders rarely check credit history and offer speedy approval. However, this quick solution is only a temporary fix to a bigger problem. Payday loans are proven to be a high risk choice and almost half of payday loan borrowers default within 2 years. Luckily, a short term loan is an alternative to a payday loan that provides similar services but with more favorable terms. Plus,..