But it is not wise to save few dollars to risk future quarrels due to unpaid debts
. Think of having a payday loan. They are popular these days because they are fast and lend money to individuals even with bad credit records. The requirements are records of present regular job, valid checking account and legal age of the borrower. Approval takes minutes in contrast to days in a bank. Payday loans have short-terms which the borrower agrees to pay immediately at salary day. However, they can have very high interest rates and heavy penalties if you don't pay in due time. That is a drawback so be sure to pay in time. Taking out a $5,000 personal loan can mean having responsibilities to take. It is wise to loan only if you can figure out ways to pay the money back.