No one likes to admit when they have poor credit. But the combination of factors in the recent recession – employment gaps, oppressive real estate purchases, and emergency expenses of all types – have hit many responsible individuals and families hard. Millions of people who have not filed for bankruptcy or lost a home to foreclosure still have suffered the burden of poor credit.

And what a burden it is. It means you might have a difficult time refinancing a home. You might get bad terms on a car loan. It is nearly impossible to get a new credit card. It can even get in the way of landing a new job or renting an apartment.

But bad credit is not a barrier to borrowing money through a payday loan. Now, the financial gurus might say, “good – you shouldn’t be taking out any loans anyway.” What those gurus fail to mention is their advice isn’t a caftan – one size does not fit all. Cash advance loans may not be good for everyone, but in some situations a payday loan can make absolute financial sense. Consider these scenarios:

* Pay bills on time. You have bills due, and to miss the due dates you would pay penalties and risk more dings against your credit score. In the case of credit card payments, if you are late on payments twice in six months you can see a significant hike in your interest rate charges.

* Cover an emergency. Whether it’s for healthcare or a car repair or even something having to do with your children’s education, some things simply cannot wait. Without a car, can you get to work? Without a medication, would you be able to work?

* Make smart, timely purchases. If you see you will need a new refrigerator sometime soon (old ones die, and newer ones are energy efficient and therefore cut electricity expenses), you probably are starting to shop around. Once familiar with market retail prices, if you spot one on a time-limited sale, you know you might be able to save a bundle – if you have the cash on hand.

In each case, it objectively makes sense to borrow the cash – because time waits for no paycheck . Heed the advice of financial gurus, but understand special circumstances sometimes call for special tricks of money management.