When experiencing financial distress, it is often more important to get a loan quickly then to get money at all. Financial problems should always be handled with great care and time, but sometimes we can’t help but be in a rush. You should try to seek personally tailored help from a credit counselor, but in the meantime, we have listed a few options for you to consider that are solving people’s financial problems quickly:
Financial institutions give small sum loans – There are a rising number of commercial and private banking institutions that are offering lower priced alternatives to the more typical pricy payday loan and can be just as fast to get. It is important that you shop around first and find the best deal because there is range between 5 percent and 25 percent. While five percent is very affordable, 25 percent can be incredibly steep for some, but this will depend on your financial outlook and personal needs. Keep in mind that these cheaper rates can help boost your credit score.
Employers can give you an advance of cash – Many shy away from this option because it involves a potentially uncomfortable conversation with your boss. However, the benefits usually outweigh this cost. If you are confident in the relationship you hold with your company, then asking should not pose problems. It should be kept in mind that this method is particularly best for one-time emergency situations when money is needed quickly and should not be repeated. If you meet with your boss and politely tell them what is going on, there is a good chance they will be positive about it.
Payday loans – Although payday loans may be on the expensive guarantee the convenience of quick cash side, they do. Ads for payday loans are seen a lot in the media and have given many people a bad impression. However, well-priced and safe payday loans do exist out there. In order to acquire a payday loan, a borrower must issue a check to the payday company equal to the amount that they wish to borrow. The issuer then gives the borrower the amount that the check is worth minus a fee. On the date of the next payday, the full amount of the loan is then due from the borrower. Be careful in determining the amount needed in the loan, as this is often what distinguishes good experiences from bad ones. If you carefully choose the amount based on income then you should have a successful payday loan experience.
Military and other special interest benefits – Exploring the possibilities of receiving loans tailored for those who served in the Military or Coast Guard is well worth it. If a family member has served, you might even be able to benefit when you yourself did not serve. Societies such as Air Force Aid, Marine Corp Relief, Emergency Military Relief, provide loans at a relatively low rate of interest to the family members of those that have served. These loans are usually given out to people that use it for necessities such as food, health insurance and housing costs and can be organized very quickly because of the pre-filing they have on the veteran.