Taxpayers Look to Payday Loans as their Own Personal Bailout

Payday advances are growing in popularity

Payday loans are still a trustworthy bailout option for American taxpayers. The Recovery Plan included a huge $767 billion bailout for the struggling banking industry. With the affects of rising unemployment and the lending crash, the economy needed a hefty revival to bring it out of the recession. But where does that leave the taxpayers? It leaves them with debt, and a shortage of ways to pay it.

Lenders are standing frozen, waiting to see how the stimulus will benefit them and how the banking industry will regain its footing. Even good-credit borrowers are searching for funding opportunities. Most Americans don't fall into the good-credit category and are left to fend for themselves.

Payday loans are the American taxpayer’s bailout plan

Many are choosing to look to payday loan options to get them through the cash crunch. Payday loans are quick loans with very simple structures. Normally all you need to apply is to fit the requirements of being over 18 years of age, being employed and having an active bank account.

If you're accepted, the lender will tell you how much you qualify for, and it will be deposited into your account within the next few days. Repayment happens automatically on your next payday. To qualified applicants this service is a lifesaver, because it allows them to cover bills that are due without having the funds in their account upfront. With traditional lenders putting a hold on underwriting, payday loan options are becoming a standard alternative. ... click here to read the rest of the article titled " Taxpayers Look to Payday Loans as their Own Personal Bailout"