If you have suddenly run into an emergency that requires cash immediately, you might be scrambling trying to figure out how to come up with it. This could be from your car breaking down, a relative needing the cash for a medical emergency, or a pet that was injured. Regardless of the reason, the following methods can help you get cash in a short period of time.
Get an Advance From Your Credit Card
One way to get cash fast is by getting an advance with your credit card. You may not have the money in your bank account to withdraw for the emergency, but if you have a regular credit card, you should be able to withdraw money from it. There will be a limit depending on the type of card you have. When you go to the ATM, use your credit card and select the option for requesting a cash advance. Keep in mind that you will still need to pay the same interest on your credit card as when you make a purchase, or the interest might be even higher for the withdrawal.
Apply For an Instant Cash Loan
Another option that should have a lower interest rate is going to a local instant cash loan place, also called a payday loan. This type of loan gives you a small amount of cash when you need it, often within minutes of applying for it. You will need to verify that you have stable employment and often need a bank account and paystub from your job. The payday loan company needs to know you are able to pay it back with your next paycheck. However, this is often faster and easier to get approved than a personal loan.
Consider a Title Loan
A title loan is similar to an instant cash loan, but it is a little riskier. This loan is for the title of your vehicle. If you are approved for the loan, the title loan company holds onto your title until you repay the entire amount you borrow. You can still drive your car, but they have temporary ownership of the title. That way, if you stop paying the weekly or bi-weekly payments, they can take your car as collateral. There is generally a high interest rate for title loans, but it does offer you emergency cash when you need it.
Sell Some Personal Belongings
As a last resort, you might want to consider selling some items you have that you don't have a use for. This might be some jewellery you are willing to sell to a pawn shop, or electronics you don't use often and can sell to someone in need of them.