Everyone gets into a financial bind here and there. An emergency household expense, medical bill, or car repair can all be difficult to handle when your family is low on funds. If you are in need of some quick cash, there are ample sources available out there to use. Here’s some resources on how to get quick cash during a financial emergency.
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Title Loans – Cash Quick
Title loans are a simple way to get quick access to cash when in a financial bind. If you own a car, you can borrow the current value of the vehicle. The title loan provides you with the necessary funds you need and requires installments until the loan amount plus interest is paid off. If you have a newer vehicle in relatively good condition, you would be eligible to borrow more. Be sure you have a plan for the future on how to pay this back.
Although this can be a health risk for some people, you have the option of donating plasma. Depending on the center you choose, you can make up to $50 for one session. While this may be just enough to cover a small utility or phone bill, many people still use plasma donations as a source of emergency cash. As a bonus, you’re providing some much-needed materials to hospitals and clinics.
Pawnbrokers are another option. You can pawn an item at a local shop and receive cash for the perceived value. You can pay to get the item back once you have completely repaid the loan. You want to make sure you aren’t risking something that you could not afford to lose. You also want to make sure that you don’t borrow more than you need. This is great if you have old jewelry you don’t care about and can help greatly for quick cash during an emergency.
Loans are another option for a financial emergency. You fill out a quick application that requests information on your place of employment, banking institution, and payday schedule. The short-term loan allows you to get the funds you need, but they must be repaid on the very next payday. The lender may offer extensions or rollovers, but that comes with additional fees and interest.
Junking an Old Car
Selling your unused junk car is another option. You may not have any use for it, but the local junk yard will take it and pay you for parts. They will take care of the towing and will use the car for scrap metal or parts. You cannot sell the junk car unless you can prove that you have the title to the vehicle. If you are looking to get a better car in future once you’ve come through the emergency, this can be a great way to save for future car payments as well.
People who need emergency cash when in a bind can turn to these quick solutions to get easy access to cash. While short term loans are attractive, they often come with high interest rates. One of the simplest ways to get access to quick funds is to sell off something that isn’t needed or used.
AMP Advance is a Miami based industry leading direct funding source out of Coconut Grove, Florida. We help those who are in need of small business financing by providing web based financing options & funding solutions. Our solutions assist small business owners find matching opportunities while assisting small business owners improve their overall financial situations. AMP Advance provides small business loans, business lines of credit, accounts receivables financing, equipment financing, unsecured business loans, and revenue based loans to millions of small business owners nationwide.