There are many reasons someone might need to borrow money from a payday lender for quick cash.
Some of the most common emergencies are medical, and medical bills can be devastating if one isn't prepared. But instead of getting a payday loan, there are a few things you can do.
Ask the hospital or your insurance company if you can split the bill into smaller payments, or use a medical bill advocate to negotiate down bills and spot errors.
Community is another great resource. Nonprofits, mutual aid funds, and charities can help with a variety of expenses in the case of an emergency.
Lending Circles are groups of people who lend money to each other at little to no cost. These circles usually raise money for one person each month to help with things like medical expenses. It's a slower way of receiving money, but it can be a lifesaver.
Borrowing from a trusted family member is another way to get money in an emergency. You can create the terms of the loan and keep it within the family. Make sure you are diligent about paying it back, though – you don’t want to ruin relationships!
Payday cash loans don’t have to be the only way out of a tough situation. Negotiating bills and relying on your community should be options considered before anything else if possible!