5 Types Of Emergency Loans To Help You Get You Back On Your Feet

5 Types Of Emergency Loans To Help You Get You Back On Your FeetThere are many circumstances that make emergency loans necessary. Health and dental problems are two of the main reasons people need emergency money. Home and car repairs are two other reasons that a family or individual often need cash fast.

While there are several ways to obtain cash when you need it, each option has its requirements and limitations. There are several options for emergency loans available to you.

Five Types Of Emergency Loans

1. Car Title Loans

Anyone with a car with a clear title or a title that is almost paid off can generally obtain a car title loan. These loans are quite popular since they are easy to get and can provide fast cash. The application process can take a few minutes and is often available online.

Good credit is not a requirement. The car will be evaluated for value to decide how much can be loaned. As a practical matter, car title loans allow borrowers to continue driving the car. Considering that these loans can be funded within 24 to 48 hours, it is not surprising that this type of loan is the choice of many borrowers in need of some emergency funds.

2. Credit Card Cash Advance

Many credit cards allow for cash advances. Using a credit card with this feature is a proven way to successfully obtain a small loan. Immediate cash is available. The obvious downside is that you must possess one of these cards and have available credit left on the card.

Since consumers can use a credit card with credit left on it to pay for almost any product or service, obtaining a cash advance is not usually needed. In the rare cases where cash is required to pay for a necessity in an emergency situation, then a cash advance on a credit card can provide a solution to the problem.

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How Chapter 13 Bankruptcy Can Affect Your Future

Chapter 13 BankruptcyIf your debt has got out of control, don’t let this be a burden to you. There are steps that you can take to get out of debt. One such way includes filing a Chapter 13 bankruptcy. By filing for Chapter 13, you can regain power of your financial status by acquiring a payment plan that fits nicely into your budget. Let’s take a close look at what a Chapter 13 bankruptcy can do for you.

  • Protect your assets
  • Eliminate interest, and in some cases all of it
  • Help you stay in control of your assets
  • Consolidate your debts into one monthly payment
  • Eliminate junior mortgages
  • Reduce your car payment
  • Eliminate your unsecured debt
  • Protect co-signers
  • No liquidation

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The Best Ways How to Tackle Debt in Five Easy Steps

How to Tackle Debt In Five Easy StepsDebt is something that happens to almost everyone. At some point in life, whether it be student loans, medical bills, or just getting behind, most people find themselves in some sort of debt.

Whether it’s something you can rise above in a month or a devastating event in your life that leaves you struggling for years, you can use some simple tactics to help yourself get out of debt, tackle debt, and to help prevent getting into debt in the future.

How to Tackle Debt

Use Online Bill Pay

Most banks and financial institutions offer you the ability to set up online bill pay. This is a great service that can help you keep track of your finances and ensure that you’ll get all of your bills paid on time.

Essentially, you just choose the companies to which you want to send money, denote how much money per month you want to send it and on which day, and set it. Forgetting to pay your bill is a thing of the past; your bank account will automatically run the bill for you.

Prioritize Your Spending

If you’re struggling with debt, it might be beneficial to live like a minimalist for awhile. Do you need to go to the fast food restaurant each morning for breakfast? How often are you eating out for lunch at work? Look for areas where you can cut expenses for awhile, and scale back on frivolous expenditures.

When you tackle debt, every single dollar counts. It might seem like no big deal to save five dollars a day by taking your lunch, but that can easily amount to a savings of over $100 a month. Look at your savings from a monthly or yearly perspective, and you’ll start to see things in a different light and realize that every savings is a good savings.

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