Alternatives to Payday Lending
If you have ever defaulted on the payment of your credit card debt, you will know that a typical payday loan is more expensive than a credit card late fee. And yet, people queue up to get money from businesses that are out to squeeze them dry of their last dollar. If you are ready to forego of payday loans and use viable alternatives, then look at this list.
One of the alternatives involves taking an advance from your employer. Ask your company. Your employer may grant paycheck advances to employees. And since this is an actual advance on your salary and not a loan, you can forget about interest rates. However, if you are faced with a serious debt problem, you could directly speak with your creditors. Quite a few creditors agree to negotiate partial payments if a payment plan is in place. And if you are in serious trouble, there are the credit counseling agencies that can help you work out a debt repayment plan with your creditors.