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Some payday lenders may need borrowers to offer a copy of these credit report or another financial information in order to approve the money. Borrowers who are struggling to repay a payday advance should contact their lender immediately to talk about alternative repayment options, say for example a repayment plan or debt settlement. Debt settlement involves negotiating with creditors to reduce the volume of debt owed, in exchange to get a lump-sum payment or a payment plan. Some payday loans online instant lenders might require borrowers to offer a copy of the tax returns or any other financial documents to be able to approve the loan. Some payday lenders may offer loans to borrowers which has a low credit score, but these financing options may come with very high rates of interest and fees. Borrowers who are can not qualify for a personal loan or plastic card may still be able to access other designs of credit, say for example a secured bank card or a credit builder loan. The level of the loan is normally based for the borrower's income and power to repay the borrowed funds. Payday lenders often require borrowers to offer post-dated checks or authorize electronic withdrawals from other bank accounts to secure the borrowed funds. Payday loans could possibly be more expensive for borrowers that have no other choices for accessing credit, like a home equity personal line of credit or personal bank loan.