Michael Drew | Alternatives

Apart from payday loans, there are also other options which you can opt for.

In this article, we have provided a list of options which you can look at for you to make an informed decision before taking our payday loans.

Let’s get started:

1. Negotiating for a favorable payment plan with your creditor

You may have been faced with a credit which you should clear within a certain period of time, but you realize you don’t have enough cash.

You can opt to ask for more time for you to earn money out of your daily activities which you will use to clear the debt.

Most creditors will offer you an extension for you to look for money. In case you are employed, you can earn your salary and settle the debt.

2. Take an advance salary from your employer

You can easily do away with loans after you decide to take an advance from your employer.

The employer will offer you the money and pay you less the amount at the end of the month.

The money you will be offered will be your money, this will enable you to avoid paying interest.

3. Borrowing money from emergency fund or savings account

You will easily avoid relying on loans after you have been faced with an emergency through borrowing money from your savings account.

This is only applicable for those who have opened savings accounts. In case you do not have a saving account, you should make an effort of opening one so that you will avoid being stranded in cases of emergency.

4. Take a credit union loan

If you are a member of a credit union, you can request for a union loan.

Most credit unions will offer you a loan which will be more affordable to you than the one that you will take from a bank. The credit union loan will easily help you become stable because it is offered at low interest rates and the repayment plan is very flexible to suit your specific financial situation. Read more about credit unions here.

5. Talk to your relatives to lend you money

There are some of your family members and close friends who are financially stable. You can ask them to lend you the money which you will return after a certain period of time. Good people will be willing to offer you the money so that you will use it to solve your urgent needs. After you receive the money you should keep your promise and return the money when time to refund comes. There are some people who will be given the money and they forget about the relative who helped them. This is risky because the next time you will be in trouble nobody will be willing to help you.

6. Utilize consumer credit counseling

You can talk to consumer credit counseling service providers for them to negotiate on your behalf so that your creditors will offer you a plan that will enable you to settle your debt.

Remember consumer credit counseling bodies will not offer you a loan, but they will negotiate on your behalf so that you will be offered a plan that you will easily work within and settle your debt.


Although there are many alternatives to payday loans, payday loans still stand out as the best for you to access help when in need of urgent money.

You will easily apply for any amount of money online and you will be approved almost instantly. You will not have to prove that you have good credit records like other types of loans.

The money you will be offered after you apply for payday loans you can use it to solve any emergency that you may be faced with. This is unlike other types of loans which will require you to use them on specific purposes.

Sometimes faxing can consume a lot of time, but you will easily avoid it after you decide to apply for a payday loan online.