The following options can be extremely expensive and/or risky. Most experts consider these to be predatory lending practices and do not recommend them. Information about these are included here to give the reader greater understanding of how they work and the risks that come with them. Think seriously before considering any of these options and discuss them with a counselor for free by going to Credit.org.
 If you have not had success with other methods and are expecting a refund on your federal income tax, it's possible to get a loan based on the anticipated refund. Contact a large tax preparation firm for a refund anticipation loan. These loans are no longer offered by banks.Refund anticipation loans use your anticipated tax return as collateral. They typically come with very high interests rates, in addition to other possible fees.RALs are typically available starting in January at the end of the fiscal year, up until April when taxes are due.If you file your taxes online through the e-file system, you can often get your refund almost as quickly as you can get funds through one of these loans.Consider carefully whether you really need one of these loans, as they take a substantial portion of your refund.
For example, it is common for a loan of this type to charge a $50 fee and up to 36% interest per year. Using this information, if you borrowed $2000 for 15 days using this type of loan, you would owe $80 in interest and fees.This places RAL's in the same group as other very high-rate loans.
 You can use your your credit card at a bank to get a small loan that will be applied to your credit card bill.


If you have a credit card issued by a major corporation (such as Visa, Mastercard, Discover, or American Express), you should be able to take it into your local bank branch and ask for a cash advance, though these funds come at a much higher interest rate than your usual credit card transactions.Try to pay back the cash advance by your next statement. If you fail to do so, the interest will carry over to subsequent payments.
Be warned that these cash advances generally charge around 24% annual interest, along with a 5% fee.For example, if you take out an average-rate (24%) cash advance for $1,000 and pay it back over a year with $100 payments, you will end up paying about $190 in fees throughout the life of the loan., A final possibility if none of the previous methods have worked and you need some cash quickly is to get a payday loan. There are numerous businesses, both "brick and mortar" and online that will offer you a loan against your next paycheck. These extremely high-rate secured loans should be used only as a last resort.


To get one of these loans, you'll need to provide the lender with a post-dated check, or with your account number and routing number. If you do not return to repay the loan on payday, or if you don't transfer the funds back to the lender electronically, the lender is entitled to deposit the check or withdraw funds online.
Because they have high default rates, most lenders put very high interest rates on these short-term loans. The average annual percentage rate on a payday loan is 390%.Avoid taking out one of these loans, but if you must, pay it back quickly, as the interest will quickly accumulate.
Beware of the payday loan trap. Many people who take out payday loans fail to pay them back. By doing so, they end up taking on even more debt. More than 60% of payday loan borrowers end up paying more in interest than they originally borrowed. This traps these lenders in an endless cycle of debt.For example, on a $500 payday loan, assuming 300% interest, a borrower can expect to pay $125 per month in interest alone. This means that at the end of the first payment period (usually two weeks), the borrower must repay the full amount of roughly $560 or be forced to accept even higher payments on the next cycle.
Figure out if you have any other options.
Get a refund anticipation loan (RAL).
Take out a cash advance.
Get a payday loan.
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