Payday Loans Are Bad News, But What Other Options Do I Have?

I've heard this question a lot lately, especially in this economy. The sheer fact is that there are a lot of people out there who need help financially, and they just don't know where else to find it. Payday Loans appear to be a simple and quick solution to your problems. And when you're in a situation where you need cash, and you need it quick, it can easily appear to be a saving oasis - however, all too often you'll just find yourself stranded in a desert with no relief in sight. So what other options do I have?

I looked online and read a lot of great articles, with a lot of sound financial advice. However, I felt like if I put myself in the shoes of someone who was truly in need of immediate financial aid, a lot of these tips and suggestions wouldn't have really been able to pull me out of a dire situation without months of pre-planning. So what about those of us who are looking for payday loans or need cash now? Is a payday loan really the only option out there?

Obviously, the point of this entire article is to tell you that you don't need to get stuck in a never-ending cycle of payday loans. I found story after story of people who had gotten a payday loan for as little as $200 and found themselves unable to get out from under the weight of their loan. One guy shared a story about taking out a $300 payday loan he was convinced would be paid off by his next paycheck. When his next pay cycle hit and his check wasn't quite as high as he had expected, he was desperate to pay off his loan to avoid an additional $70+ fee, so he simply went and got another payday loan to pay off that loan. Just a few months later he had taken out 9 payday loans and faced numerous fees and penalties. What started out as a simple $300 loan had transformed into over $1,000 and served as a financial trap.

So what does Progressive Payoff do that's so different? We're not looking to trap you, we're looking to help you pay your loan off. With a simple 6 month loan, you're able to pay off your loan in easy monthly payments. The guy from the story above was desperate to avoid the high bi-weekly fees that payday loans trap you with, but with a Progressive Payoff loan instead of staring down the barrel of paying somewhere around $370 within two weeks, he would have just had easy monthly payments to make for 6 months - paying a total of $453 - not over $1,000.

Check out our calculator at http://progpayoff.com/ and see how much you can save. Have questions about how our cash loans work, or want to hear more about how we can save you from a payday loan trap? Contact us here.