If you require a payday loan urgently, then you should take a stock of your condition and plan in advance. Though you may be desperate for the cash, you don't have to forfeit all your common sense, as it will simply make you fall into debt trap. Rather think about various alternatives and find the best method of solving your financial problem.
1. Simply because you are in urgent need of a payday loan, there is no need to pay higher charges. Be careful of the lenders levying additional fees and interest only because you are in a hurry to get a loan. There are plenty of companies that provide quick cash advances without extra fees.
2. Ask around prior to choosing the lender. There are many lenders around that provide huge rebates for the new aspirants, thus giving you a far lower interest rate.
3. Avoid borrowing amounts that exceed your income. A payday loan is designed to ease your financial stress till your next paycheck. It implies the moment you obtain your next salary; you can quickly repay the loan.
4. Go for cash advance payday loans only in case of crises and not for luxuries. Use it in case of emergency car and medical expenses and mortgage payments but not on the latest mobile or shoes. Going for quick cash loans for trivial expenses is the quickest way to fall into payday loan debt trap.
5. Don't borrow above your need. If you require only $200, borrow only $200 and not a cent extra. Over borrowing is a guaranteed method of falling into debt. This is due to higher amount paid as interest due to higher principal borrowed.