If youre struggling to make ends meet then there are many options available to you, before you shout I need an urgent payday loan there are some alternatives that you should consider before you take out the aforementioned payday loan.
Many borrowers are not aware of the amount they have to pay back when they take out a pay day loan, depending on the lender you could pay anything between 1000% to 2000% APR, some lenders might argue that this is short term lending however the fact remains that you might have to pay back double what you borrowed.
Urgent Payday Loans
If you want to take out an urgent payday loans then you can try lenders such as Cashnetusa.com, tigerloansusa.com and aiaworldwide.com who all offer same day money to your bank account, the application is quick and easy and you can apply online 24/7.
You can borrow up to $1000 online and have same day cash in your checking account. Before you start applying you must show that you have regular income coming in, this could either be your job or even welfare benefits, as long as you have a stream of income coming into your account there is a good chance that youll get the money quickly.
Fast Same Day Loans No Credit Check
For a same day loan with no credit check youll have to pay a higher APR rate compared to those lenders that do undertake a credit check, the extra you have to pay is because of the extra risk these lenders take by not considering your credit history. If you want the cash the same day then youll probably have to go direct to the lenders branch otherwise youll have to submit your application during office hours and leave plenty of time for the money to leave the lenders account and then reach your account.
Urgent Bad Credit Payday Loans Alternatives
Before you take out a payday loan its really important you reflect on your circumstances and then ask yourself whether you need to take out the loan, although payday loans can be really handy then have a habit of burdening borrowers with more and more debt until they cant handle the payments. If you need the money to put food on the table then you should take out the loan and then budget so that you dont have a shortfall the following month. If you need the money for a night out then you really should think twice about burdening yourself with debt for a night out.
Car Title Loans
Car title loans can offer you loans and use your vehicle as collateral to secure the loan, by using your car you can get loans at lower APR and there will be no need for credit checks and you could get the money straightaway, the reason these lenders dont want to check your credit history is because they will take your vehicle into their possession if you default on the loan, the sale of the vehicle should cover the loan and the interest payments. Its important that youre very careful when you take out a car title loan as missing a few payments will mean they youll lose your car.
Peer to Peer Lending
People to people lending or P2P lending connects borrowers who want to pay less interest with investors who want a higher return on their money. Have you notices how savings accounts have low interest rates such as 2% whereas payday loans can charge anything between 1000% and 2000%, this disparity is evened out using people to people lending. Some of the best P2P lending sites include Lendingclub.com and Prosper.com.
Credit Unions are run by members for the benefit of the members; it offers loans according to how well you can manage your money. When you join a credit union you need to demonstrate that you can save, once you’ve shown that you can budget your income and expenditure you can take out loans at very low rates on interest.
I Need an Urgent Payday Loan
There are many lenders who promise to help people who are desperately shouting I need an urgent payday loan, before you take out the loan I would urge you to really reflect whether you need to take it as debt can be very debilitating in the long run. You should consider cheaper lending alternatives such as selling personal items, pawning jewelry, car title loans, peer to peer lending and even credit unions, once you’ve considered the alternatives its up to you to make the decision that suits you best.
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