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6 Reasons to Apply for Quick Payday Loans

[Jan 21, 2009.]


Quick payday loans exist for one reason: to get you out of financial dilemmas. That said, it doesn't take much to figure out when you should apply for one. In an emergency, borrowers rarely have the time to apply for traditional loans. Here are 6 situations when payday loans just make sense.

  1. Medical Emergencies. eFluxMedia cites a CDC report that revealed emergency room visits shot from 90 million in 1996 to 119 million visits in 2006; that’s a 32 percent increase in just a decade. Co-pays and medications can take a bite out of your monthly income, especially if it’s fixed.

  2. Auto Repairs. According to the 2008 Collision Repair Trends, total collision repair sales grew 5 percent to $41.5 billion from 2006 to 2007. If you’re car isn’t working, then you’re most likely not either. As most repairs are under $1,000, this is the ideal range for most quick payday loans.

  3. Home-related Repairs. A burned out heating and air conditioning unit. A water heater that explodes. Roof damage from a storm. The list of possible home repairs that can pop up out of nowhere is virtually limitless and can easily run hundreds of dollars per incident. Payday loans can help you get your house back in order.

  4. Legal Fees. No one ever plans on getting a ticket or getting arrested, yet it happens everyday. Particularly around the seasonal holidays, law enforcement organizations step up their patrols and you could find yourself on the wrong end of the exchange. Quick payday loans can help you out of a tough spot by providing money for fines or bail.

  5. Pet Care Expenses. Pet owners love their animals. Oftentimes, if it comes down to an expensive surgery, people will elect to go broke before they let their pet succumb to illness or disease. Payday loans can mean the difference between life and death for your dog or cat.

  6. Temporary Job Loss. According to the New York Times, unemployment rates have hit 11.1 million, the worst drop since the 1930s. Quick payday loans are a solution for many out-of-work individuals who are looking for a way to make ends meet until a new position opens up.

Of course, these aren’t the only reasons why quick payday loans should be in your arsenal of temporary financial solutions. In fact, there are probably as many good reasons as there are borrowers. But the free availability of these loans combined with recent spate of consumer protections against fraudulent lenders make payday loans an attractive option.

AAIA, Collision Repair Market Grows 5 Percent to $41.5 Billion in 2007
eFluxMedia, CDC Report: Emergency Room Visits Up by 26 Percent in a Decade
The New York Times, Jobless Rate Hits 7.2%, a 16-Year High


About Author:

Kelly Richardson is a freelance writer, marcomm consultant and digital entrepreneur. He’s written content for Fortune 500s Google, Yahoo!, Microsoft and Wells Fargo. Find out more about him at kellyrichardsoncopywriting.com.

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