PaydayLoansOnline.net knows that short term loans are not for everyone who needs emergency funds. We can help you with some affordable short term loan alternatives.
Perhaps you live in a U.S. state that prohibits payday loans as a form of quick turnaround lending, are military personnel or have just not found the right deal to suit you? There are more options available than you might realize. Extra urgent cash can be sourced from some of the following routes and organizations:
- Credit Unions: These are local community organizations that are alternatives to banks. They are especially willing to assist individuals that have low incomes or with bad credit and can often grant short term loans. You can visit The Community Banker to view a directory of all the credit unions throughout the whole of the United States. The website is updated regularly with new additions and contact details and also includes some useful resources on internet-based borrowing. It’s also advisable to double-check the credentials and reputation of a credit union you are thinking of approaching via an independent federal agency called the National Credit Union Administration.
- Credit Cards with Special Promotional Rates: This option is suitable for those with fair to good credit ratings who cannot use short term loans due to their state of residence having prohibitory laws. Visit Nerwallet.com in order to compare low-cost credit cards, find special APR rates for limited time and find solutions for your short term borrowing needs. Remember to only use the credit card for your emergency and allow plenty of time to transfer the balance to another low-cost card or pay it down in its entirety.
- Bank Overdrafts or Deals on Fees: If you are in good standing with your bank, it might be worthwhile to discuss the option of a temporary small “buffer zone” or overdraft on the account. If your account isn’t in the best shape, you might also want to consider asking for something known as bounce protection coverage to lessen the amount of overdrawn fees that will be applied if you do go further into unauthorized minus balance. Granted, this isn’t giving to extra money per se, but it is costing you a lot less in arrears and charges.
- Military Options for Service Members and their Families: If you are a member of military personnel, you are prohibited from being charged more than 36% in interest for a short term loan. This means that payday loans will largely be off limits. However, there are many avenues for extra financial help if you are in the military. Call the Department of Defense, toll-free 24 hours a day, 7 days a week, at 1-800-342-9647, or go online to their homepage at www.militaryonesource.com. Service members may be able to obtain financial help and advice from various military aid societies, such as the Army Emergency Relief, Navy and Marine Corps Relief Society, Air Force Aid Society, or Coast Guard Mutual Assistance. There are a number of grants and bursaries available from all of these societies. Good luck!
