MALE VO: Need cash fast?

 If you’re thinking about getting a payday loan, you may want to think again. Companies selling these loans often charge high fees and interest rates, making the loans VERY expensive.

BEFORE you get a payday loan, consider other ways to borrow money. Ask yourself:

FEMALE VO:

• Can I get a loan from a bank or credit union?
• Can I get more time to pay my bills by talking with creditors or a credit counselor?
• Do I have any money saved that I can use?
• Can I borrow money from family or friends?
• Can I use a credit card instead?

MALE VO: And don’t stop there — compare the costs between your options. Ask the companies:

FEMALE VO:

• What’s the annual percentage rate?
• what are the fees?
• how soon must I repay the money?
• what happens if I can’t repay?

MALE VO: So if you need some cash in a flash, remember — you may have options besides EXPENSIVE payday loans.  Check out ftc.gov to learn more.

A tip from the Federal Trade Commission, the nation’s consumer protection agency.