10/13/2554

Payday Loans: To Borrow, or Not to Borrow?

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Payday Loans: To Borrow, or Not to Borrow?



Cash Advances provide a safe, convenient means for obtaining short- their monthly budgets when the unexpected happens. These small-dollar, unsecured loans typically require only a few easy steps for fast results, making them a convenient solution when you need money in a hurry. However, because the borrower incurs additional fees and penalties for repaying the loan late, cash loans should only be used for short-term financial emergencies. Read on to find out when you should-and shouldn't-take out a payday loan.

Before You Borrow
Although payday loans provide much needed help to those who have no other financial options, smart borrowers turn to other sources before taking out a payday advance. Start by asking your family and friends for help. You might also try your employer. When disaster strikes, many employers let their employees take out small advances against their paychecks. If you've exhausted your other options, and you still haven't found the cash you need, it's time to take out a shot term loan.