I Need Money Desperately: How to Get Instant Cash
It is not strange to be in rot and to desperately need cash. It’s not just wanting a loan, it’s wanting one immediately and having the cash in hand. You just need to know who or where to turn to or ask. A lot of people don’t have the luxury of having friends and family members that can lend you some money when you need it. Or they have exhausted their options with friends due to prior small loans. If you have exhausted most of your options then what’s left to do? Find more options! In this article, we will be presenting you with several instant cash loan options.
What do Fast Cash Loans Do
Many people do not understand financial technology and resort to panicking when things go sideways. If you have never experienced a plunge in your finances, this may be especially disconcerting for you. We are going to show you several options for solving your cash problem if you find that you are low on supply and need cash desperately. Fast cash loans are good for paying the rents, late mortgage payments, and stocking your kitchen with groceries. These loans can also help you pay off auto loans and several other expenses such as water and phone bills that need to be paid for immediately to retain such services.
When I desperately need a loan, but I have bad Credit
As mentioned, panicking will not provide a solution to your money problems. Here are 6 important ways through which you can get instant cash loans from lenders who will not demand high-interest rates. These instant cash loan options range from fast resales to loans online and everything in between. Hopefully, after reading this, you will be able to determine which type of loan you need and which will work for you. If your credit is not peachy and perfect, or you just lost your job or don’t have a bank account, you need not worry. We’ll answer your budding questions as well.
Remember that you are not alone. There are many other people with terrible credit nowadays. Cash loans with bad credit are all over the place waiting for you to take advantage in your time of need. Below, we explore the 6 days to get instant cash when you desperately need money.
Instant Cash Loan Methods when you need money desperately
- Resale/Pawnshops
Reselling some of your assets may be a viable option for you. If you have expensive jewelry, tech gears, electronic equipment, or even a collection of antique china wear, you can pawn that. This helps you declutter your home and you get cash instantly and on the spot. What’s more? you don’t have to repay anybody. You meet your needs while staying indebted to anybody. If you are truly in a jam, this can help you get through a few days or so until you can get a bank loan. If your needs were not as significant as needing a huge loan then this should do the trick.
- Payday Lenders
Payday lenders are a great alternative for instant cash loans but this is only possible if you have a steady weekly or biweekly paycheck. Payday lenders or “cash advance” lenders are present in almost every major city. All you have to do is google to find those that are closest to you. Some examples of payday lenders include speedy cash, Fast Loan Advance, or Money Tree. To get cash instantly you would have to go along with some documents such as a picture ID, and pay stubs. Some lenders require that you have a checking account with actual checks and may not be satisfied with a typical debit card. The entire process for first-time borrowers lasts about twenty to thirty minutes because lenders would have to go through all paperwork to make sure everything checks out. You will also be required to fill out and sign some forms. Subsequently, the process will be a lot shorter and faster.
- Credit Card Advance
This loan method requires that you, first of all, have a credit card that has available credit. In case you are maxed out, you would have to call your credit card company to increase your credit. Then you can usually take out a cash advance right at an ATM of a certain amount of money. The amount of cash you will be able to receive will vary depending on how much your credit card company is willing to shell out. It will also depend on your available credit. If in case you need more money than they are willing to give initially, it would be wise to call and talk with a customer service specialist who may be in a position to be of help in the case of a serious emergency.
- Bank Loan
This is a common method for getting cash. Traditional banks may be able to give small amounts of short-term loans online without needing to report at a bank branch. This wouldn’t be the case if you have pending debts and have previously defaulted on loan payments. If you don’t have any history of racking up overdraft fees then you are good to go. Several large banks have programs that are designed to meet emergency needs for small cash loans. Remember to go over such programs and details with the banker at your local bank, so you can learn if there is a possibility to secure such small loans.
- Local Credit Unions
Local credit unions may be in the best position to provide you with instant cash. Credit unions would meet your need faster than banks even if you are not registered with them. They offer a variety of services that can pull you through tough times and manage emergencies such as illness, job loss, or family problems.
- Peer Lending
Isn’t it great to have rich friends you can milk off whenever you are in need? Just kidding! Peer lending is not limited to asking from friends and family members. You can also extend to solicit donations from social media such as Instagram or Facebook. This might not sit well with some people but there are people out there with a buck or two to spare for a person who is in need. Facebook for instance allows you to create and populate a page where you can invite friends to make donations for a cause. This method can help you raise money for hospital bills, college tuition and even help you repay bank loans.
What credit score do I need to get an emergency loan
Looking for quick cash with not-so-good credit? If your credit score is about 550 then you may have been turned down for a loan before. Most times, the lender and the lender’s requirements would determine the score you need to qualify for a loan. However, a credit score of 550 and below would allow you to qualify for most of the loan methods listed above. A FICO credit score under 580 is considered to be poor credit. Lenders use the score to determine whether or not you are high risk. It indicates whether you’ll repay your loan or not.
Most personal lenders won’t even consider an applicant with a credit score under 600. But other types of personal loans or lenders might still be an option, even with a 550 credit score. Another option
Emergency Loans for Unemployed
So you just recently lost your job, utility bills are piling and cash is not forthcoming. How do you get out of this sticky situation? Would you qualify for a loan if you are unemployed? Even if you don’t have a job, you can still get a loan. Potential lenders would qualify you for a loan even if you are currently unemployed as long as you can prove that you are capable of repaying the loan. Below are some criteria that potential lenders would consider before you can secure a loan if you are unemployed.
Regular Income: do you have a business or some form of an income stream? Even though you are unemployed, you still need to prove that you are capable of reimbursing the loan and a steady income stream is a good start.
Credit History: most lenders will request to see your credit report and credit score. They will check to see if you have been consistent with previous payments if you made the payments on time, and look at negative remarks on the credit report.
Credit Score: if you have a good credit score, you will be in a position to qualify for loans even when you are unemployed. That way, you can get out of sticky financial situations faster.
In conclusion, everyone at one point or another in their life comes into a situation where they run out of cash and need help desperately. The good news is that several loan options can swoop in and save the day. Instant cash loans may sometimes be the only way to get through those financial storms. Whether you choose in-person or online fast cash loan options.
