River valley loans

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If your urgent need for a loan results from an unexpected bill, a payment plan is an alternative to an emergency loan. A situation when this might be possible is if you have a large medical bill that you can’t pay outright. You might be able to negotiate a manageable payment plan with your provider’s billing or accounting department.

Another benefit is the ability to avoid interest since it’s generally not assessed by service providers. This could save you several hundreds or even thousands of dollars that could come with an emergency loan.

You may also be able to avoid excessive fees and penalties by being proactive and working out a payment arrangement sooner than later. However, this may not be the case with lenders or creditors, but adhering to a payment plan could prevent the account from being charged-off.