Desperate for cash? Is there a responsible way to take out a payday loan?

Payday loans have received a lot of bad press recently. But for many families struggling to make ends meet, when a big bill hits the doormat, or the car breaks down and costs a bomb to fix, there really aren’t many other options.

Taking out a payday loan should be a last resort, and if you really, really can’t go without one, consider the following:

Only take one out if you can pay it back within the agreed timeframe
If you have any doubt in your mind about being able to pay back the loan within the agreed timeframe, then you shouldn’t take one out at all.

Like with any other form of lending, if you know you can’t afford it, signing up to it is financial suicide and it will only get you deeper into debt.

Check out all your other options first
Have you asked friends and family for help? Have you looked at ways to claw back on your spending to free up some money? Have you spoken with your bank?

These are all cheaper options to try before you sign up to a payday loan – especially if you can’t afford to take one out.

Make sure you don’t sign up to a loan shark
Payday loan providers are a lot different to loan sharks. They won’t knock down your door at all hours demanding more money than you have agreed to pay, for one thing.

All the same, look for a reputable lender. Try http://www.cashwindow.co.uk, and remember to look online for reviews in forums and other websites before you sign.

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