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Consumer Tips: Payday Loans & Cash Advances: SERVICE MEMBERS

Should I get a payday loan or cash advance loan?

If you are in the military, the law protects you and your dependents.  The APR on payday loans cannot be more than 36%.  The lender must give you documents that explain the cost of the loan and your rights.

Even with these protections for service members, payday loans can be very expensive.  Before you get a payday loan, consider these choices:

  • Get financial help from military aid societies like:
    • Army Emergency Relief: (703) 428-0000
    • Navy and Marine Corps Relief Society: (703) 696-4904
    • Air Force Aid Society: (800) 769-8951
    • Coast Guard Mutual Assistance:  (800) 881-2462
  • Borrow money from family or friends
  • Ask your employer if you can get an advance on your paycheck
  • Talk to a credit counselor about getting more time to pay your bills

Where can I get more information about borrowing money?

For more information about other ways to borrow money or to get help managing your finances:

  • Call the Department of Defense at 1-800-342-9647.  This line is staffed 24 hours a day, 7 days a week
  • Go to