Pay day loans are an ideal solution for people who need a small injection of cash quickly.

With no need for collateral and no examination of credit history, these loans can be easily acquired by almost anyone with a steady job who needs a little extra to pay off bills or pay living expenses until the next paycheck arrives, according to finance adviser Tom Dikkin.

Writing for bestsyndication.com, Mr Dikkin explained that using pay day loans responsibly can allow those who urgently require relatively small amounts of cash to make it through to the next pay day without running up massive credit card bills or taking out a larger, harder to pay off loan.

For many, these are not even options as poor credit ratings make it impossible to find lenders willing to hand out cash or credit cards and the time taken to get approval may be too long.

In states with tight legislation surrounding pay day loans, many low-income families are struggling as their options become limited to bouncing cheques at $48 to $60 each or simply avoiding paying bills, leading to vital utilities being cut off, according to industry experts.

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