Americans are Using Payday Loans to Manage Debt

Falling behind is not hard in today's economy

The payday loan is an option for paying emergency debt. In today's market, it's easy to fall behind on bills or have an unplanned debt come up. Payday loans are quickly becoming a simple and quick way to handle debt by receiving upfront cash before your pay period. To apply for a payday loan you need to be over 18 years of age, employed and have a bank account. If you are approved, you wi ll typically have the emergency funds within 24-48 hours, usually even less. This is why the loans are so popular today. They are meeting the needs of qualified economy-burdened consumers.

American Debt Increasing

It is estimated that the next American crisis will be dealing with debt. The recession has brought many people to the brink of financial collapse, forcing them to file for unemployment, face foreclosure and rethink their financial plans. Both the mortgage crisis and the job decline have propelled people into serious arrears. Despite the $700 billion banking bailout, consumers are still struggling because the bailout is estimated to bring tangible economic improvement in mid-2010. Until then, people have to be smarter and more frugal than ever. ... click here to read the rest of the article titled "Americans are Using Payday Loans to Manage Debt"