You needed a quick bit of cash and decided that a payday loan was the way to go. Weeks, even months, later you have found yourself back at the payday loan office asking for another quick bit of cash. You want to get out of this cycle, but how do you do it. We will show you how.
Know your financial situation. The first key to getting out of the payday loan life cycle is to know where every dime you spend goes. Keep all your receipts so that you can sit down at the end of the week and go through everything you have spent money. You might find that spending half your cash on beer might be something you have to put on hold for a few weeks.
Take up the lost art of bartering. So, you really want that hot new videogame that just came out. You know you have a loan payment coming up, and you’re sick of staring at the person behind the payday loan counter. Get those work shoes on and go take care of a friend’s yard. Take your trade skill and put that to use. You will find most people are more than willing to pay you a videogame for cleaning their gutters.
Talk to your creditors. It is now time to swallow a bit of that pride and talk to the people you owe money to. There is absolutely no shame in talking to creditors or relatives and asking for a bit of an extension. Take it even further and ask creditor for a lower interest rate or an extension. You will most likely find that creditors would much rather get paid what they are owed at a later time than have to go to court to get that money out of you.
Ask a friend or relative for the money. This solution might feel a bit degrading, but this could save you a whole lot of headache down the road. We don’t all have rich friends or relatives, but asking for a few dollars from more than one person can add up to a fair amount of cash. If you happen to have a person you, can barrow a hefty chunk from ask them? No matter how you acquire the greenbacks from friends and family, it is better than getting it from those greedy payday loan people.
Get an extension on your payday loan. So, you have done all that you can, and you find that you really do only need one more week to pay off this payday loan. You know this because you have taken the time to sit down and look over your financial situation. Call up the payday loan people and ask them for one more week. Use that bartering skill and ask them for a low interest rate as well. Like everyone else, they want their cash as well.
These are just a few ways to help get you out of that payday loan dependency. Some of these might take a bit of pride swallowing, but better to sacrifice a little bit of pride than to get into financial ruin.…