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Personal loans and charge cards may have lower rates and more favorable repayment terms than pay day loans. Borrowers who will be considering a payday loan should be aware of the potential affect their credit history and financial well-being, and should only borrow what they can afford to repay. Borrowers should be prepared to deliver this documentation as a way to qualify to get a payday loan. Some payday lenders may require borrowers to offer a copy of the credit report and other financial information so that you can approve the loan. Some payday lenders might require borrowers to supply a copy of these lease or another proof of residency as a way to approve the borrowed funds. Payday loans might be more expensive for borrowers who may have no other choices for covering entertainment expenses or another leisure costs. Borrowers who are considering a pay day loan should be aware of the potential consequences of default, including legal action and damage on their credit score. Borrowers must also compare the rates and charges of multiple lenders prior to you buying a pay day loan. Some lenders may offer payday cash advances to borrowers without credit check or minimal documentation, which can cause them to become particularly attractive to people that are in a hurry to get cash.