Alternatives to a Loan.

There are alternatives to a loan:

Your employer: Some companies (especially larger companies) have a set policy for this. Your company takes repayments for the loan directly out of your wages, therefore the payment is guaranteed (as long as you work there). This type of loan usually has quite low interest rates and as long as you plan to stay in your current employment until the loan is paid off, is a good alternative to loan.

Another alternative is to use your savings if you are in financial trouble; after all, this is what savings are for. This usually lets you save more in the long run anyway as you are not paying interest on a loan.