 TITLE: How Will Payday Loan Changes Affect Me? CONTENT: Should You Take Out a Payday Loan?\n----------------------------------\nIt doesn't look like payday loans will be going away anytime soon, but that doesn't mean they're necessarily a good choice for you. You'd probably be better off working with a bank or online lender if you find yourself in a position where you need to borrow money in an emergency.\nYou also shouldn't assume that payday loans are your only option, even if you don't have the best credit rating right now. There are lenders that specialize in working with people with bad credit, albeit usually at a higher cost. And while interest rates on a bad credit personal loan may be steeper than what you'd be getting with better credit, they're still likely more affordable than a payday loan.\nAs a rule of thumb, only consider turning to a payday lender after you've exhausted all of your other options. END