10 Reasons You May Need a Payday Loan

10 Reasons You May Need a Payday Loan

Is a payday loan a good idea? Ask around and you’ll likely find strong opinions either way. Without a doubt, there are many terrible reasons to get a payday loan, but there are also very good reasons to use this option in a pinch. So why do people get payday loans?

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Consider these 10 reasons people use payday loans (and then learn how to get one!)—

Choose Utah’s Trusted Payday Loan Company

1. Unexpected Bills

We’ve all been there. The hot water heater breaks the same week that the washing machine starts leaking. And just to make sure we’re sufficiently overwhelmed by life, the car starts making “that funny sound.” This is when a payday loan comes in handy.

2. Bank Overdraft

You knew this month was already going to be tight, and then a fee hit that you were not anticipating, and now you’ve overdrawn your account. And if that isn’t frustrating enough, the bank is going to penalize you with a fee—adding insult to injury. Payday loans can help you avoid overdraft fees.

3. Holiday Season

The holidays are some of the most financially stressful times. It isn’t that we don’t have the money, necessarily—sometimes it just means we don’t have all the money at one time to do nice things for those we love. Payday loans are especially popular during the Christmas season because you can borrow what you need and repay it in the new year. The holidays are good reasons to apply for a payday loan.

4. Personal Integrity

Ever find yourself between a rock and a hard place where you need money but don’t want to ask your friends or family for it? This happens all the time. Payday loans enable you to avoid having the uncomfortable conversation of asking someone you love for money … which can just make things awkward.

5. Pending Eviction

The unfortunate reality is that most bank loans aren’t made to help many personal emergencies, such as missed rent or a missed mortgage. Payday loans to avoid situations such as eviction make good sense and can make all the difference.

6. Cheaper Alternative

Often, getting a payday loan is actually a faster, cheaper alternative than paying bank fees, reconnection fees, bounced check fees, or missed credit card payments.

7. Quick Money

While there are often other means of acquiring loans in a pinch, there are very few—if any—ways to get money faster than with a payday loan. With the option to get payday loans online, it is even possible to get the money and make whatever payment you need to make in less time than it takes to get a loan interview elsewhere. If you’re running against a clock, a payday loan may be your best option.

8. Financial Readjustment

Depending on what you’ve just been through or what financial storm you’ve recently weathered, a payday loan may be the perfect ticket to buy you a little extra time to get yourself back on track.

9. Limited Requirements

Payday loans have much fewer requirements than loans from banks or other lending institutions. This can be helpful if haven’t made many major purchases or built up a lifetime of credit in other ways.

10. Credit Rating

Payday loans can be helpful if you have a good credit rating and still want to keep it that way!

Choose Utah’s Trusted Payday Loan Company

Need payday loans in Utah? At Money 4 You Payday Loans, we want to help. Call 855-MY-MRMONEY for your quick and easy phone approval or see about getting started online. Or—if you’d rather talk to someone face-to-face—visit any of our 22 locations in Idaho or Utah. You need to have had a checking account for at least one month, a state-issued ID with photo, and proof of a social security number. Let’s get you back on track today!

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