Payday Loan | Cash Advance

     Payday loans, also known as cash advancements, are small short term loans used to help a borrower between paydays. These loans are usually high interest loans with interest rates up to 400-900%. They lend without regard to credit history. Because these loans can be very costly after interest is applied, many people turn to alternative practices. These alternatives include, but are not limited to, credit unions, credit payment plans, overdraft protection, community assistance, consumer loans, or direct loans from family or friends.

     Credit unions are a popular alternative. They are non profit organizations that attempt to solve people’s debt problems by making sure that the owners and users of credit unions are the same people. Credit unions are a great alternative because they charge lower interest rates than banks and payday loaners. Overdraft protection is another popular alternative. With this option, the company pays for any bounced checks of ATM transactions exceeding your balance. This is a type of loan, and the company expects to be paid back within a set time with interest.

Check out http://search.dmoz.org/cgi-bin/search?search=payday+loans for more alternatives to payday loans.