Skip to main content

How to get Quick Money during an Emergency Situation?

Quick Money during an Emergency Situation
Image via autopawn.com
We do not have ready cash at our hands all the time. In the financial conditions of the modern world, savings are next to impossible. Fuel costs are on the rise, groceries are becoming expensive with every passing day, and utility bills are soaring too. With your bank balance not being enough, how do you expect to fix an emergency that requires a big amount of money immediately? What will you do if you do not have enough time to wait until your next wage comes in?

In this post, we will take a look at a few ways that can land you with some quick money and help you tackle a critical emergency situation with ease.

Home Equity Loan

A home equity loan is the most preferred method of getting some fast cash in the US. This loan will allow you to borrow money against your home’s value only if it is more than what you own on it. A home equity loan normally has a low interest rate, and can be applied for, even with a bad credit score. In some cases, moreover, the interest costs on this loan are tax deductible. The most common reasons for going for a home equity loan are usually covering the purchase of a second home, paying for the higher educational charges of a family member, and renovating or remodeling the existing property.

Car Title Loan

The second most popular way of getting fast cash in the US is if you own a car and title loan firm nearby. This loan will allow you to borrow money from a lender by temporarily surrendering him the title of your car. The loan process is simpler and faster than the home equity loans. Lenders do not even mind if you are down with a bad credit score. Moreover, numerous lenders charge a very small rate of interest too. The most common reasons for borrowing a car title loan are usually covering the purchase of another car, and paying for the illness or health issues of a family member.

Local Pawnshop

If you have valuable items like electronic gadgets and gold or silver jewelry at your home, then you can borrow some fast cash in return of keeping your belongings as collateral. Contact a well-reputed local pawnshop, and it can help you out by borrowing you some money in exchange of your valuables. Take this loan seriously though! Your belongings will be owned by the pawnshop if you fail to pay back the amount within the stipulated amount of time.

Signature Loan

You can also opt for a signature loan if you do not have anything to offer as collateral. The lender does not have any belonging of yours to own forever. This is the reason why this loan is also termed as ‘Unsecured Loan’. However, the lender holds the power to ding up your credit by reporting against you in the credit companies. Moreover, you need to be careful before going for this loan as the interest rates are usually higher because of the risk factors involved.

In these 4 ways, you can borrow some quick cash and get yourself out of trouble without much hassle.


About the author: Cayla Silverstone lives in San Diego, California. She is a full-time blogger. In this post, she is talking about some easy ways like cars and title loans and home equity loans that can help you get fast cash during an emergency situation.

Comments

Popular posts from this blog

Low interest credit cards - how to make them work for you

Credit cards are borrowing instruments, unlike debit cards where you already have the money. Banks are there to make money too. Just like high street stores, they hope to maximise their profits within the rules. So it’s important to understand the basics and find a credit card that’s right for you – you can compare low APR credit cards here . Now you know the rules, let’s find out how to play the game. The financial services industry charges interest on the money that it lends out. Let us assume you borrow £100 on your credit card and keep it for exactly one year before you pay it back. For the purposes of this article, we will assume your loan attracts 8% interest per year, which is the Annual Percentage Rate, or APR for that particular transaction. Practical example

Why it’s important to save for retirement

While retirement may seem far off in the distance for some, financial experts say you’re never too young to begin saving.  In fact, the earlier you calculate your retirement needs and start building your nest egg, the easier it will be to create a viable plan for the future. Many experts advise you begin saving a percentage of your income for retirement as soon as possible, no matter how little the contribution may be, as it’s possible the Social Security benefits millions of people currently depend on may be in jeopardy.

How does a Prepaid Credit Card work?

Can They Really Be a Solution to Avoiding Credit Card Debt? When it comes to plastic, there are a lot of choices out there. Not only do you have the choice of credit card , debit card, or prepaid credit card, but you also get to decide which financial company you want to use as your card provider. Credit cards and debit cards are both risky. Credit cards can help put you deeper into debt, while debit cards give thieves and collectors access to your entire bank account. A growing number of people are finding that prepaid credit cards are becoming the best option. What Are Prepaid Credit Cards? Prepaid credit cards look and act just like a credit or debit card, except you put the money on the card before you make any purchases. You are only allowed to spend as much money as you have pre-loaded on the card, which means that you are not at risk of going into credit card debt from overspending. These cards also keep your money safe, because thieves will be limited to the amount that is on t

The Top 4 Reasons People Fail at Budgeting

Budgeting isn’t easy, and many people experience difficulty trying to get the most out of this essential financial tool.  While the concept may sound simple, adhering to your budget could be a lot harder than you might think.  To help you experience success, here are the top 4 reasons why people fail at budgeting .

What are the Consequences of Overspending in Life?

How overspending can ruin your financial life? With today’s expenses and their prices, it can be very hard not to overspend. Still, that isn’t an excuse to stray out of your budget. You know why? It is because overspending can only lead to more problems than you think. Overspending can affect your whole life. With all the possible consequences, it may jump from one problem to another. Unpaid bills All the excessive shopping with your credit card can cause steep bills at the end of the month. If you keep on using your credit but don’t have enough money to pay for it in the end, then you’re surely in for a huge financial disaster. This will turn out to be missed payments, and missed payments will ruin your credit report. Missing out on payments will get your credit report marked for 7 years or more. And you can’t get rid of them by finishing them off. Credit report Overspending can cause a chain reaction of events. Once you get your bills due to overspending, it’s possible for you to mi

How to Make Your Title Loans Safe and Sound

Although title loans are tagged as risky, innumerable folks still use them for fulfilling their different financial obligations. Therefore, such loans are not completely bad because their significant use despite the risk factor says a lot of their pros. This makes it vital to discuss how these loans should be used so that the risk factor can be minimized up to a great extent. For those who are not aware of, the risk of title loans crop up in the form of consequences when you fail to pay back the loan. With such a failure, you are surely going to lose your car as well as decrease your credit score further.

Learn about low doc loans in Australia

Australians who are considering low doc loans or no doc loans need to understand some key facts about the loan before opting for this type of funding. Since the loan does not require much documentation, or in the case of an investment property might not require any documented proof, it is convenient for self-employed individuals. By understanding a few key points, it is easier to determine if the loan is right on a personal level.