 Emergencies never arrive at convenient times. They seem to happen whenever they want, yet never when we want them to. Some financial crisis appears but you are two weeks away from your paycheck. In many cases you need cash and credit cards simply won't work. You just need between $500-$1,000 within the next 24 to 48 hours. What are you supposed to do?
There are 5 basic options for someone in this situation:
1-Take the money out of your bank account or savings account.
2-Get cash from your credit card.
3-Ask your family or friends for a short-term loan.
4-Get a payday loan.
5-Rob a bank.
Obviously I'm kidding on the last one but some people feel like it's their only way out. With today's technology is almost impossible to get away with robbing a bank. Probably 10 video cameras will see anybody going in or out, read the license of the car they drive and give a detailed description of who they are. This is just meant to be a joke. Things really aren't that bad no matter how bad they are for you.
So let's look at the other four options and see which makes the most sense.
Of course you can always take the money out of your bank account or savings account if you have that much money in there when you need it. Hopefully, you are living by some sort of budget and will know if you can take that money out for the time being. Of course you need other bills to pay like car payments, trips to the gas station, food, house payments, etc. If you come up short by borrowing that $500-$1000 then one of those other areas is going to suffer.
Option #2: getting cash from your credit card is one of the most dangerous thing you can possibly do with your credit card. The rates are very steep and it affects your entire existing balance on your card. Suppose you borrowed $300 from your credit card and already had $1000 to the balance sheet. When you go to pay back that loan they will pay off the original $1000 before they ever get to the $300 that you borrowed. And borrowing cash at that rate in essence means that you would have to pay back $1500-$1600 to get it finally down to zero and your percentage on your credit card to a normal rate. Of course this is supposing that you already had borrowed $1000 on my credit card. But be warned, the rates are very steep on cash advances from a credit card.
That leaves option #3: asking family or friends for money can be nothing short of embarrassing, painful and downright demeaning. And also, let me warn you, that once you borrow money from family, they are going to want to know everything there is about your spending habits. They will meddle in your life like never before. If you are ever late, harsh feelings can result that may never go away for years. Now not all families are like this but you may not know what will happen to your family until you try to borrow money from them.
So the only real viable option here is getting a payday loan. Payday loans are short-term unsecured debts that are given with only the security of your paycheck and the fact that you have a job. You can easily get $500-$1000 from a lender in a less than 24 hours without even a credit check! Of course you will have to pay it back but that is usually a lot easier than dealing with the family or the credit card companies.
But you must always use them in emergencies and with responsibility. Don't do something stupid with that money! Use it to get your life back in order, not make things worse.
So if you are in a crunch between paychecks and need some emergency cash, please check out the short form for an instant answer. You will be directed to a guaranteed, one-page application and someone will respond back with an answer very shortly. Go ahead and check it out. It's totally harmless and may solve your problems faster than you realize.
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