We have all been in a situation where we needed money in a flash. You grab your bank book and there just isnt enough to go around. Just when you think you are getting ahead emergencies come up such as an illness or car problem. Some people are smarter than I though and didnt damage their credit and such a young age and still paying the consequences for it. Trying to find someone to lend you money with a low credit score or bankruptcy seems impossible but there are choices.

A pay day loan is a loan you can usually receive within 48 hours. There is no credit check and the only requirement is a checking account and proof of employment. If this seems to good to be true well technically it isn't but like everything else there is a catch.

These loans are usually very short term, being paid off in as little as 2 to 4 paychecks. The interest rates and fees are skyrocketed to the point where you pay almost double the initial loan back. Someone needs to ask themselves if paying all that extra money is worth it, or if you can struggle and just save for what you need. Plus understand that all the payday loans I looked at require automatic withdrawal from your checking. With bank overdraft fees at an all time high I can see going into further debt and more issues if a payment bounces.

My advice to people would be to start checking you local papers for free debt counseling and money management. I had to seek free help from non-profit organizations and found that a few money saving and budgeting tips went along way in my struggle of living paycheck to paycheck.

If after reading my advice you still feel that a Payday loan is right for you please make sure you read all the fine print. Talk to someone directly on the phone and ask as many questions as you can.

• What is the interest rate
• How much is the bottom line owed at the end of the loan
• How much are non payment penalties or insufficient funds
• How many paychecks will you be deducting from

and any other questions you can think of. Though this is seems fast and easy it requires some serious thought.