If you decide you don’t want to choose an alternative financial service provider, explore some of the options:

You may qualify for services at banks and credit unions:

  • Check your record on Chex Systems to see if you have a negative record in your banking history.  If not, you may be able to qualify for a credit card, personal loan, or other product that could help.  If you do have a negative banking history, take steps to dispute any errors or pay off debts.
  • Looks for banks or credit unions in your area that offer "second chance" accounts to re-establish your banking relationship.
  • If you have a banking relationship, ask your bank or credit union if they will make you a small personal loan.  These are often credit building loans.

You may be able to borrow money from less expensive sources:

  • Borrow the money that you need from a family member or a friend.
  • Ask your employer if they will give you an advance on your paycheck.

You can save money when filing your taxes:

  • Use electronic tax filing and set up direct deposit in order to receive your tax refund in a shorter period of time.
  • Find a free tax return preparation program to do your taxes for free.

With a little planning, you can make large purchases:

  • Seek out a store that offers a layaway plan and make small payments over a period of time instead of using rent-to-own.
  • Set up an automatic transfer from your checking account to a savings account in order to build the savings needed for large purchases.  

You can build savings and become your own lender:

  • Set up an emergency fund.  You can use a jar in your home, a reloadable prepaid debit card, or an account at a bank or credit union.  Your money is safest in a bank or credit union.
  • With direct deposit of your paycheck and automatic transfer to a savings account, you can build emergency savings. If you save only $10 per week or $20 per paycheck, you will have $500 in your emergency fund in a year.  This is more than the average payday loan.

You can increase the resources you have to work with each month:

  • Seek out local government or nearby social service agencies to see if they provide assistance with food or utility payments.
  • Find a part-time job to supplement your income.

​However, if you do find yourself in a debt trap:

  • Contact the place that you owe money and work out an alternative payment plan that lets you make realistic payments spread over time.
  • Contact legal aid in your community to see if they can provide specific legal help.
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