This is the six step process stated in an article in Which Is Your Pay Day Loan Benefit?] by Fred Taricoed.
A payday loan isn’t that bad; Think about it: To borrow money, you need to sign a contract, from which the premium will be paid in some amount of time, if you want to sell your house, or if you want to sign on as a substitute for a job. This is a risky business, and it is often harder to find someone who has conditions like it, because loan money is risky and you may run into difficulties. However, modern credit has made it easier to obtain high loan flexible payments without incurring big risks.
Understand what to do with it. The borrower needs money for a payment, like a mortgage, or to repay a debt, like a big business. The borrower needs a payment of at least the amount taken out on a payday loan, so that he will have money to invest in a house or business.
Bar himself. Please don’t give him any money, unless you follow conditions he has accepted before. If he keeps up with payments do not count on him anymore anymore talking about bringing in more business and getting money. He will be demoralised and you’ll lose more than you give.
Get Personal. By that I mean, what kind of payday loans available and how much you need to take. And whose you can rely to deal professionally. Write a list and let him keep in touch and make sure he stays on that list.