When you are desperate for extra cash, you might feel like you would do almost anything to get the money you need. However, you don't have to sacrifice your financial health just to avoid a financial crunch. Some companies offer emergency cash in products that are easy to understand and reasonable in their terms - while others do not.
Consider the options to avoid when you are in need of extra cash, as well as one option that can offer the money you need to ease the financial strain, as well as provide you with peace of mind.
Pawn shops are often an option people consider when they need emergency cash. These shops pay cash for your valuables, such as your jewelry and electronics. While you may walk out of the shop with money in hand, you are also walking out without some of your treasured possessions. Don't take the chance on losing family heirlooms or personal valuables to get cash in this manner. There are better options available.
Auto Title Loans
Some lenders will give you the money you need when you offer your automobile as collateral for the loan. The advantage to this option is that the loan itself may come with a relatively low interest rate and good terms. However, if you don't pay the loan back in a timely fashion, you stand to lose your car in the process. It might be hard to continue going to work and bringing in a paycheck without that transportation source to get you there. Don't risk your precious car to get the money you need.
Payday Advances from Your Employer
Some employers offer payday advances to their employees in financial fixes. This option may or may not come with a finance charge. The problem with this option is that it forces you to disclose your financial situation to your employer. Many employees who ask for a payday advance are also forced to ask for subsequent ones when their paychecks begin to get smaller to make up the amount of the advance. This can put you and your employer into a potentially strained relationship. Don't put your job in jeopardy to get the emergency cash you need.
The Better Option
For those looking for emergency cash, there is a better option available. Companies that specialize in cash loans understand the dire situations some of their customers face. Their streamlined application and approval processes allow you to get the money you need, when you need it. While interest rates tend to be higher for these types of loans, the cost is still much less than the other options listed above. They also tend to be a better deal than paying bounced check charges or late fees on bills.
When financial times get tough, there is help available. By shopping with credit companies to find the best emergency cash loan for your needs, you can get the money you require without losing valuable possessions, jeopardizing your work situation or digging yourself into a deeper financial hole. Credit companies that offer cash loans can give you the money you need, when you need it, with easy to understand terms and flexible repayment options.
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