Have you ever had an unexpected financial situation and didn\'t know what to do? Well when it happens next, think of an advance pay day loan, you\'ll be glad you did.

Nine out of ten Americans think that payday loans are a useful way to get the money they need, and as many as ten percent of them have received a payday loan. Most borrowers are not poor. Most have an average income between twenty five and fifty thousand dollars. Over half of them own their own homes, and the majority of them have some college education.

Payday lenders and critics agree that advance payday loans are not for everyone though. But it is an easy and affordable way for families to face unexpected financial challenges. An advance payday loan should not be used to finance long-term debt, such as a home mortgages. Rather your payday loan should be a short-term loan, for use on those unexpected financial needs in between paychecks. Critics say when mishandled payday loans can dig borrowers into a hole. Just about anything in life though, when mishandled can dig you into a hole.

One study found that taking out a one hundred dollar payday loan to pay off a fifty dollar credit card bill and a fifty dollar utility bill, would be less expensive then the late fees from failing to pay. (George Town University) There are no credit checks done when you apply for your advance payday loan, and it can not damage your credit rating.

Unexpected expenses like medical expenses or car repairs can result in loss of work and/or income, increased costs, pain, inconvenience, and more. So the next time you have unexpected financial needs, apply for a payday loan, you will be happy you did!

Visit the Author's website: http://www.fastcashonline.com