If you are in need of emergency cash, there are a few ways to get it. Many situations might come up from time to time that require last-minute funds. If you are not prepared with an emergency fund, you will need to think of other options. Your car might break down, a close friend might need a small loan, or you may have another personal situation arise. Whatever the reason, the following four options are readily available for getting quick cash in as little as one day.
Credit Card Cash Advance
If you have a credit card, you always have the option of getting a credit card cash advance. You can use it at any ATM, and select the cash advance option. You will not only pay the fee for using the machine, but interest when your next credit card bill comes. However, this is one of the easiest and quickest way to get emergency cash. You will get the money immediately from the ATM, and simply need to pay it back with interest when you get your credit card bill.
You can also get a payday loan, which also has interest, but tends to be less than what you pay for the credit card cash advance. A payday loan is a small amount of cash given to you when you are in between paychecks. They will want to see a copy of your last payday stub to verify how much you make and on what days you get paid. You will fill out a simple application and will need to verify your bank account.
You leave a check written out to the payday loan place, though they will only deposit it if you do not return on the designated date to pay back the loan. The benefit is that you get immediate approval and cash right there when you are approved.
A title loan is similar to a payday loan, but instead of using your job as collateral, you are using your car. You will need to fill out an application and hand over the title to your car. They hold onto it and give you a set amount of cash loan based on the value of your car. If you do not return the money within the date they set and you agree to, they can then take over ownership of your car. It is a risky way to get cash, but often a way to get more than what you can get with a payday loan.
If you have high-ticket items that you don’t mind doing without for a little while, you can put them on loan at your local pawn shop. This means they hold onto the item, give you cash, and you have a few months to return and pay the money back in order to get your items back. The best items for getting more cash at pawn shops are electronics, musical instruments, high-powered tools, and valuable jewelry items. Gold, diamonds and gemstones typically do well at pawn shops for loans.
To learn more, contact a company like USA Cash Services with any questions or concerns you might have.