When you need money for an emergency or unforeseen expense, a payday cash advance or payday loan is not your only option. There are several other ways to obtain money quickly, especially if you have bad credit. Of course you could always borrow from a friend or family member but it is often more stressful to borrow from someone you know rather than from a licensed institution.
Auto Title Loan
An auto title loan is an option for those that have a valid checking account and paid off vehicle with a clear title. There cannot be any liens or judgments on the title. As you’re completing the application your vehicle is appraised. An offer is extended to you based upon the value of your vehicle and what you can feasibly afford to pay back.
An installment plan is setup for repayment. The payments can be setup for weekly, bi-weekly or monthly payments. This is easier to repay than a cash advance or payday advance.
Pawn Shop Loan
When items of value are sitting in the home collecting dust, their value may help provide enough funds. Keep in mind that every item has a resale value and the pawn shop has to also make a profit on their investment. Negotiating is an option and can help you come to a reasonable amount. You will not be able to get what you paid for an item, in most cases, but taking a few items of value increases the chances of obtaining enough funds. In the past year or so there has been a rise in pawn shops.
Online Short Term Installment Loan
There are a few companies that offer online installment loans for personal reasons. It is ideal, however, to make sure the company is licensed in your state first. Many of these options also offer loans at a higher percentage rate for those with bad credit. You’ll have to provide a reason for the loan and your income. Some companies require that a copy of recent pay stubs be faxed into their office.
With these options, and a possible online sale via social media, you can obtain quick cash. Most local areas have social media for sale groups. Members of these groups can post photos, contact information and the asking price of their items. This is one of the fastest ways to sell items for funds in an emergent or urgent situation without having to repay anything. Regardless of the situation, there is always an option to get the funds you need.
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