Easily available payday loan or cash advance is not at all a desirable option to get through immediate cash problems. Payday loans invite bigger future issues when it addresses a smaller present problem. The high rates make it difficult for borrowers to manage such loans. They continue extending the loan till they are in a financial crunch. But payday loan isn’t the one and only option for borrowers in debts. There are various other ways by which you can get out of financial troubles.

Take a look at some of the alternatives to payday loan cash advance.

• Credit Counseling:
  If you are in trouble while dealing with debts, avail credit counseling services. There are several agencies to guide you on how to recover from debt problems. The counselors at the agencies will help you develop a budget or a savings plan and can also negotiate with your creditors for an alternative payment plan. The fees are nominal and it’s better to pay such fees rather than make higher payments on payday loans.
• Advance from your employer:
  You can request your employer for paycheck advances so that you can make up for immediate cash requirements. The paycheck advance is not a loan and hence there isn’t any interest associated unlike cash advance.
• Overdraft Protection:
  You can apply for an overdraft protection on your checking account used to pay off the payday loan. With this protection, the bank will provide the entire payoff by moving out cash from a savings account. For this, the bank may charge a small fee of $5 or no fee at all.
• Emergency Assistance:
  You may apply for emergency assistance programs offered by Community organizations either directly or through social services programs. But there may certain criteria to be fulfilled prior to applying.
• Secured credit Cards:
  You can try out with secured credit card which is tied to a savings account. The credit line for the card will be the amount you have in the account. Only after using the secured card for 6 months or so, you can apply for a regular unsecured credit card.
• Loans from Credit Unions:
  You can take a short term loan from credit unions at low rate of interest compared to cash advance. The credit unions offer longer repayment periods unlike cash advance lenders, so it becomes easier for consumers to repay such loans.
• Short terms lines of credit:
  You can look out for finance companies offering short term lines of credit worth $2000-$5000 at 25-35% APR. This option is also available to consumers even if they have poor credit profiles.

Payday loans may be short term solutions to financial problems. But before you go for such loans, consider other ways of availing quick and easy cash or reducing debt problems. It is always better to find out ways that cost you less and help you save more.