If you are looking for an alternative option to a personal bank loan or you want to avoid borrowing money from your friends and family, then you should consider a payday loan. One of the features of these loans is that you will have to return the money you borrowed within fourteen day, although some money dealers can grant you a small extension period for a certain fee. When making the payments for the payday loans, you can choose to pay in cash, by using a debt consolidation company, with a check or by using your credit card.
Paying in cash is one of the easiest ways you can repay, as all you need to do is go the company that borrowed you the money and give them back the sum you took from them. The only thing that you need to worry about when choosing to repay in cash is that you do not lose the receipt or document where you have the information regarding the initial and ending balance.
Another method you can use to repay the payday loan when you do not have a lot of time to make a trip to the company that lent you the money is to authorize an automatic cleaning house draft from your checking account. This method implies that you grant the lender the permission to withdraw money directly from your account, thus make sure that you borrow money from a trustworthy company.
If the payday loan company does not include any possibility of extending the period in which you have to make the payments, then one possibility is to use your credit card. It may look a little silly if you have your credit card issued by the same company that gave you the payday loan, however you should use the credit card if this is your last option. You can also use your credit card if the interest rate on the credit card is lower compared to the loan and you are unable to make the payment on time.