Options to Avoid When You Need Money
Sometimes it seems like the easiest way to deal with burdensome debt is to come up with some cash to pay the debt down. While this can be a good strategy, coming up with a chunk of money is usually not easy. If Aunt Mary can't loan you several thousand dollars, you can't increase your income, or you don't win the lottery, you might be tempted to turn to many of the advertised "get cash quick" options. Thse include debt consolidation schemes, payday loans, pawshops, and the like. But before you turn to these services, beware. Many options for getting money quickly will land you in hot water, and increase your debt burden even more.
Below are some of the options you should avoid if you are trying to get money to pay down debt.
To learn about safter strategies to get control of your debt load, see the options in Dealing With Debt.