Pay day loans can be a good way of borrowing cash if no other options are available, one finance expert has stated.

Emily Davidson, from credit.com, believes cash advance loans are becoming increasingly popular as more consumers look for emergency finance to help them until their next pay check.

There is no arguing with the fact that rising cost of gasoline and food credit has hit people hard, she said.

"Pay day loans can be a good tool for quickly and easily borrowing cash during an emergency if you don't have other financial options," stated Ms Davidson.

The credit crunch has also had the effect of making the availability of high street loans for people with a bad credit history even more difficult.

Last month, California-based advice portal Best Syndication said that going to relatives or friends for money may not always be an option. Therefore taking out a short term loan is worth considering instead.

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