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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