Imagine, for a minute, that you have just realized that you are going to run out of money before your next paycheck arrives. Borrowing money from a friend or family member is embarrassing and sometimes not possible. You might be able to use one of your credit cards, but perhaps they are all maxed out, or maybe the interest rates are prohibitively high. Your bank may give you a loan, but that could be time-consuming, and they probably recently became much stricter about lending money anyway – who knows if you will qualify? Obviously, your employer is not going to pay you early, as nice as that would be! Maybe you can have a quick tag sale or sell something on Ebay or Craigslist, but that’s a long shot. What other options do you have?

There are many businesses today that offer , which can be useful alternatives to traditional loans or credit card cash advances. These loans are given after you provide proof of income to the lender, who will then typically loan you an amount of cash that you’ll be able to pay back once your next paycheck arrives. This kind of loan can even be completed via the internet, with the money being transferred to your checking account within a few hours. Unlike normal loans, these loans typically do not require credit checks, co-signers, or other restrictive measures. They’re a good option for getting yourself out of a financial tight spot. This can be especially helpful when getting the money will mean you’re able to pay a bill that, if left unpaid, would negatively affect your credit rating. The hidden cost of missing such a payment can be enormous: higher interest rates, less available credit, and even repossession of an asset. Payday loans can be another tool in your financial toolbox.