What is Amanda meant to do now?
Amanda knows she is in a bit of a situation when she receives the final notice on her utility bill. She receive a payment plan from her the company but the final demand is now sitting in her hand, and she needs to make the payment the next day. The trouble is, Amanda’s payday is not until the following week, and she doesn’t have enough money to cover the bill amount.
Amanda sits down to consider her options:
- She has a credit card, but it is maxed out, so she can’t put the payment on it.
- Amanda calls her bank to discuss the options for a same-day personal loan or an overdraft on her account, but due to her past credit problems, they can’t help.
- She considers a lender that offers cash advances, with no credit checks. Amanda finds out she needs to provide her personal information; financial and employment details, and provide 90 days’ worth of bank statements, but the lender doesn’t look at her credit file. She finds out she will receive approval for the $250 she needs and can make the repayments over the next two paydays. Amanda applies for the cash advance; the money arrives in her account the following business day, and she pays her utility bill.