Is There an alternative to payday loan?

Submitted by Anonymous (not verified) on Mon, 07/02/2007 - 07:29
Forums

This is a terrible time i am going through and i really do not know whether payday loan would be an option. The interest rate is too high. Can anyone give me an alternative?

Defny (not verified)

That is the worst solution to any problem. Do not opt for a payday loan

Thanks
Defny

Mon, 07/02/2007 - 08:13 Permalink

Hi Precilla,

Any option is better than a payday loan. Once you get into the trap it becomes really difficult to come out. There are certain alternatives to payday loans.

You can opt for any of the following:

• Credit Unions
• Credit Payment Plans
• Overdraft Protection
• Cash Advances On credit cards
• Paycheck cash advances form employers
• Emergency community assistance plans
• Direct loans from close relatives or family
• Small consumer loans

Hope this helps you to some extent.
Never go for a payday or a quick cash loan.
All the Best

Mon, 07/02/2007 - 09:07 Permalink

Hi Precilla,

I quite agree with Defny and Laura – you should try to avoid a payday loan.

Apart from what Laura has suggested, you can also try to negotiate with your creditor directly. Your creditor may agree on partial payments like others if you can negotiate a good payment plan. You can contact your local CCCS (Consumer Credit Counseling Services - nonprofit) office for further help.

Fri, 07/06/2007 - 07:19 Permalink

Hi John,

Welcome to the forum.
Your suggestion is really valuable. I hope Precilla takes your advice. :). I feel thats a good way to stay away from the payday loans.

Fri, 07/06/2007 - 10:25 Permalink

Thank you Hale

That was a great deal of information. Keep posting.

Sat, 07/07/2007 - 06:17 Permalink
Rhon (not verified)

Hi there

Anybody has any idea what one step cash is? How they work?

Thanks Rhon

Sat, 07/07/2007 - 06:22 Permalink
Rhon (not verified)

Hi John,

Thanks. That helped a lot. It is a payday loan company? My God. They spoke so simply. Huh i guess i will cut their call next time rather than listening to them with useless interest. :)

Thanks
Rhon

Sat, 07/07/2007 - 08:48 Permalink

Hi Rohn,

i guess i will cut their call next time

- This would be the best decision in your part. I would even ask you to move a few step further and tell your friends to do the same.

Mon, 07/09/2007 - 07:51 Permalink

If you mean secret cash card, I think it's an "offer" many people have accidentally or inadvertantly enrolled in while trying to apply for a payday loan.

Wed, 07/11/2007 - 12:29 Permalink
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