Financial Options For Quick Cash To Pay For Urgent Expenses
Unanticipated, urgent expenses can arise for various reasons, catching you off guard and putting you into a monetary spiral. But it doesn't have to be this way. Whether it's medical emergencies, vet bills, home repairs, or something else, there are many financial options available to you.
The following sections uncover six ways to pay for things you didn't see coming. We'll look at everything from HELOCs to relatives, salary advances, and selling unused items to online title pawns.
6 Ways To Pay For Urgent Expenses
Friends Or Family Members
This is only an option for some, but asking someone close to you for financial aid when you're in a pinch can be one of the most cost-effective options. Those who love you — and have the means to supply — will likely want to help you during your difficult period.
That said, borrowing money from a loved one can harm your relationship if you aren't careful. Only head down this road if you are confident you'll be able to pay them in whole or come to another agreement (e.g., mowing their lawn or babysitting) within a specified timeframe.
Even though it can seem a bit "much" for people close to you, drawing up a formal loan contract, otherwise known as a promissory note, may make the relationship dynamic easier to handle — and provide some comfort for the person you're asking.
Home Equity Line Of Credit (HELOC)
A HELOC is a line of credit secured against your home's equity. If you already have one, accessing it is as simple as using the relevant debit card or writing a check. If you still need to put one in place, opening one can take several weeks, which may need to be quicker for your emergency.
Some lenders also charge high closing fees alongside annual costs. Therefore, it's essential to shop around if this is the route you take.
Not to mention that you could retain your home if you pay it back. Thankfully, they tend to come with more extended repayment limits to avoid this.
Sell Unused Or Unwanted Items
Generating more income may be all you need to fund an urgent expense. In this case, selling unwanted or unused items is the way to go, especially if you have a few things for which people are willing to pay good money.
These days, plenty of apps let you sell things quickly, and some don't even charge sellers fees! You can go ahead and head to the relevant app store and look for the most applicable option.
Ask For A Salary Advance
Your employer may be able to give you a payroll advance. You'll receive money you must repay through payroll deductions from future pay slips. These agreements come with specific timeframes for repaying the money, so please do your best to figure out whether it's the right option for you.
Borrow From Your Life Insurance
With a permanent life insurance policy, you can withdraw from the coverage's cash value — sometimes without paying tax. Consider that taking money out earlier could lower your death benefit and the taxable amount.
An Online Title Pawn
When you've exhausted all other options, you can turn to an online title pawn from Georgia Auto Pawn, Inc. to fund urgent expenses. You can get up to $15,000 with this option, provided you have a driver's license or another form of state-issued identification, a vehicle, and a lien-free title to your vehicle.
Unlike other financial options, you don't have to jump through many hoops to qualify. Instead, you need the three things above and follow the steps listed below:
- Contact one of our stores or use our online form to send your details straight to your chosen location.
- We'll make sure to call you back as soon as possible to go through the information you gave and talk about the requirements. Make sure you answer your phone quickly to avoid the process taking longer than necessary.
- You can meet at our branch or your home/office. So, please head to the agreed location at the perfect time to set up the amount of money you qualify for and sign the various loan documents.
- After that, you will arrange to receive the cash and leave with your car, truck, or van.
- That's it!
In just five steps, you can borrow the money you need to fund your unexpected scenario and begin to return your life to normal.
Pay For Urgent Expenses With An Online Title Pawn Today!
A title pawn from us at Georgia Auto Pawn, Inc. is an option when you've tried all other avenues to no avail. So, complete our online form or call your local branch to start the process. You could have your money in no time.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.