If you're in a financial bind, and you need access to funds in a hurry, it's time to take out a cash advance loan. Cash advance loans – or payday loans – are a great way to gain access to the funds you need in an emergency situation. However, if you're not careful, you can get yourself into trouble. Here are four steps you can take to ensure responsible borrowing

Understand the Fees

If you're going to take out a cash advance loan, make sure you understand the fees. Like any loan, there are fees associated with your cash advance. Unfortunately, if you're not aware of the fees, you may not be prepared once it's time to pay off the loan. If you don't understand the fees associated with the loan, be sure to ask questions. The staff at your lending office will make sure you understand the terms of your loan.

Don't Shop Multiple Loans

Cash advance loans are usually easy to obtain. In most cases, you'll just need to show proof of income and residency, and then provide a post-dated check for payment. Because the funds are so easy to obtain, it can be tempting to shop for multiple loans. This practice may provide you with additional funds, but it can also put you at risk for financial problems once the loans become due. To avoid problems, stick with one cash advance loan at a time.

Keep in Contact With Your Lender

If you run into additional financial problems before your loan payment comes due, contact your lender as soon as possible. In most cases, they'll be able to work with you to find a suitable repayment plan. However, if you don't contact them, they can't provide you with the assistance you need. Unfortunately, that could result in your payment going through when you don't have funds in the bank to cover the payment. If that happens, you'll be looking at additional fees and penalties. Contact your lender as soon as issues arise.

Save Cash Advance Loans for Emergencies

Cash advance loans are there when you need them, especially for those emergency situations that you have no way to plan for. To help prevent a situation where you become caught in a never-ending cycle, save cash advance loans for emergencies.

If you need cash in a hurry, stop by a local cash advance loan office, such as Cash Depot Inc. They can help you get the funds you need for life's little – and not so little – emergencies.